Switch between variable & fixed interest rates

Learn more about the benefits of variable and fixed interest rates as well as splitting your home loans.

Switch between interest rates
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Switch between variable & fixed interest rates

When you apply for your home loan, one of your key decisions is to choose a fixed interest rate, a variable interest rate, or a combination of both. Throughout the life of your home loan, you’ll have the opportunity to switch between a fixed or variable interest rate, or to switch to a split rate home loan.

Benefits of variable and fixed interest rates as well as splitting your home loans:

Each type of loan offers benefits so you can decide which suits your individual situation and your outlook on interest rate movements. If you currently have a St.George variable rate home loan and think a fixed rate is a better fit, you can make the switch via Internet Banking or the Mobile App. Find out how.

Fixed Interest Rate

The benefits

Choose a fixed rate term from 1 to 5 years
Know exactly where you stand with your budget and what loan repayment amount you will need to pay
If you believe interest rates are on the rise, you may feel most comfortable with a Fixed Interest Rate home loan
For new and maturing fixed rate loans, you can lock in an advertised fixed rate with Rate Lock¹
Redraw up to $10,000 p.a. for loans fixed on or after 30 Nov 2009. Redraw up to $30,000 during the fixed rate period for loans fixed on or after 17 May 2020.²

Variable Interest Rate

The benefits

Get a competitive variable interest rate without being locked in for a set term
Interest rates will move up and down with changes to financial market rates
Standard Variable Home Loan – flexible options like our full interest offset and redraw to help you manage your loan and pay it off sooner.
Switch from a variable rate to a fixed rate home loan at any time. Simply attend a branch, call us or switch anytime, any where via internet banking.

Splitting your loan

The benefits

Get the flexibility of a variable rate plus the security of a fixed interest rate with a split home loan
Your variable rate portion will give you all the added features that can save you money and increase your flexibility, like making extra repayments or having a full interest offset facility
Your fixed rate portion will protect you against a potential rise in interest rates
Learn more about our split rate home loan option.

Thinking about switching? Here's how...

Talk to an expert

Speak to one of our home loan experts on 1300 304 660 to learn how we can help you manage your finances, including switching between fixed and variable rates.

Request a call back

A St.George home loan expert will call you back at a time that suits you, Monday to Saturday. Request a call back

Switch online

Logon and select your home loan.
Desktop: Go to Switch to a fixed rate home loan.
App: Go to Services, then tap Switch to fixed rate.

Choose your new fixed rate and confirm.

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Interest rates and calculators

Important information

The information on our website is prepared without knowing your personal financial circumstances. Before you act on this or any advice, please consider if it’s right for you. If you need help, call 13 33 30.

¹ Rate lock requests are subject to our approval. Fees apply.

² Redraw requests are subject to our approval. Redraw Limits for Fixed rate loans commenced before 17 May 2020: During a fixed rate period, you can only redraw up to $10,000 in each 12 month period. For this purpose, a “12 month period” is the period from the date the fixed rate period started to the first anniversary of that date and each consecutive 12 months after that, during the fixed rate period. Redraw Limits for Fixed rate loans commenced on or after 17 May 2020: During a fixed rate period, you can only redraw available funds that you have paid into the loan during your fixed rate period, up to the prepayment threshold. For more information on the prepayment threshold see the Break costs section.

³ Where a fixed rate term applies, after the fixed rate period expires, the interest rate will revert to the applicable standard variable rate for the loan category and repayment type.