Fixed vs Variable Rates

Updated: Dec 3, 2021

Variable rate

Interest charged and repayments will change to reflect interest rate movements.

The benefits of this home loan

  • Save money on fees and interest

To take advantage of potential future decreases in the interest rate

  • Pay off your loan sooner

No fees for making additional repayments on your home loan, so you can get ahead faster.


Fixed rate

Rate is fixed for a specified term giving certainty of interest and repayments for that term.

The benefits of this home loan

  • Certainty of repayments

Lock in a great rate and know that your minimum repayments won’t change during the fixed term.

  • Make budgeting easier

With a fixed rate, you have certainty with repayments during the fixed rate period you’ve selected. You’ll find a fixed rate and strict repayment schedule makes it easier to budget.

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