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Home loans - Interest rate news

Changes to our variable interest rates

Effective Wednesday, 19 September 2018, St.George will be increasing our variable home loan rates by +0.14% p.a.  Rate changes include:

  • Owner Occupier^ Principal & Interest Home Loan variable rate increasing by 0.14%p.a. to 5.36%p.a. (comparison rate 5.53%p.a.*)

  • Owner Occupier^ Interest Only Home Loan variable rate increasing by 0.14%p.a. to 5.95%p.a. (comparison rate 6.11%p.a.*)

  • Residential Investment Principal & Interest Home Loan variable rate increasing by 0.14%p.a. to 5.92%p.a. (comparison rate 6.08%p.a.*)

  • Residential Investment Interest Only Home Loan variable rate increasing by 0.14%p.a. to 6.46%p.a. (comparison rate 6.62%p.a.*)

Please note the above rate changes also include Portfolio Loan, Basic and grandfathered variable rate products.

We carefully consider every interest rate decision we make as we know increasing interest rates impacts our customers.  This decision reflects a sustained increase in wholesale funding costs.

Switching from interest only to principal and interest repayments

We offer lower interest rates to customers who make principal and interest repayments to encourage them to pay down their debt and own their home faster.

If you wish to pay your variable home loan sooner by switching to principal and interest repayments, you can do so without paying a switch fee by contacting us on 13 33 30 and we’ll talk through your options.

What is the impact on my repayments?

If you are currently paying interest only repayments on your home loan

Your repayments are adjusted automatically. The repayments will change from the first repayment date after the interest rate change becomes effective

If you are currently paying principal and interest repayments on your home loan

The contractual repayments will be adjusted and letters will be sent to you.  These will detail both the new minimum monthly repayment amount and the date the new repayment commences, ensuring there is time for you to adjust arrangements.

Fixed interest rates home loans 

Repayments are not affected by variable interest rate changes during the fixed period of your home loan.


Credit criteria, fees and charges, terms & conditions apply. Based on St.George Bank credit criteria, residential lending is not available for Non-Australian resident borrowers.

^ Excludes investment loan applications where the principal property securing the loan will be used to derive rental income or where the loan application purpose is to invest in real estate or to construct or make improvements to an investment property.

* Comparison Rate: The comparison rate is based on a loan of $150,000 over a term of 25 years.WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.