Basic Home Loan
- A basic, no frills home loan with a lower variable interest rate1
- $0 establishment fee if loan amount is greater than $150,0004 - for customers making Principal & Interest repayments only
- $0 monthly service fee4
- Flexible repayment options
- Make extra payments to save on interest, with the option to request a redraw of your funds if you need them2
- Ideal for first home owners or anyone who wants a no-frills, basic home loan. First home buyers may be eligible for the government’s First Home Owner Grant.
A St.George home loan expert will contact you at your preferred time.
A basic no frills home loan |
Perfect for first home owners or anyone who wants a no-frills, basic home loan. |
Lower variable interest rate |
Get a lower variable interest rate1. |
Choice of loan term & repayments |
Choice of term up to 30 years for principal and interest repayments or up to 5 years for interest only repayments on Owner Occupier# loans and up to 10 years for interest only repayments on Residential Investment## loans |
For properties or vacant land |
Available to owners and investors for property or vacant land purchase. |
Great features! |
Features include reducing or avoiding Lender’s Mortgage Insurance3 when a family member provides additional security for part of your loan, redraw2, repayment pause and more! |
| Discover your borrowing power! |
Establishment fee |
$0 if loan amount is greater than $150,0004- for customers making Principal & Interest repayments only |
Monthly administration fee |
$0 |
Other fees and charges apply. See a complete list of fees for loan accounts.
Owner occupier interest rates
| Term | Annual Rate | Comparison rate* |
|---|---|---|
| Principal & Interest | ||
Basic Home Loan Promotional Discounted Rate Special limited time offer^ Rate includes 0.84% p.a. off the Basic Home Loan Rate |
3.88% p.a. | 3.89% p.a. |
| Basic Home Loan Rate | 4.72% p.a. | 4.77% p.a. |
| Interest only | ||
| Basic Home Loan Rate | 4.92% p.a. | 4.97% p.a. |
Residential investment interest rates
| Term | Annual rate | Comparison rate* |
|---|---|---|
| Principal & Interest |
||
Basic Home Loan Promotional Discounted Rate Special limited time offer^ Rate includes 0.81% p.a. off the Basic Home Loan Rate |
4.39% p.a. | 4.40% p.a. |
| Basic Home Loan Rate | 5.20% p.a. | 5.25% p.a. |
| Interest only | ||
| Basic Home Loan Rate | 5.40% p.a. | 5.45% p.a. |
Repayment options for a Basic Home Loan
Frequency
Choose either:
- Principal and interest repayments for up to 30 years, or
- Interest only repayments for up to 5 years for Owner Occupier# home loans and 10 years for Residential Investment## home loans.
Weekly |
Fortnightly |
Monthly |
|
|---|---|---|---|
Loans with Principal and interest repayments |
yes |
yes |
yes |
Loans with Interest only |
no |
no |
yes |
Learn more:
Additional payments |
|
Automatic repayments |
|
|
|
Uses the equity in a family member’s home to reduce or eliminate the need for lenders mortgage insurance. The value of the pledge is limited to the amount needed (when combined with your deposit) so that it equals 20% of the value of the property being purchased. Legal advice is required for the family pledge guarantor. |
|
You may be able to pause or reduce your repayments for a set period (keep in mind, after the break your repayments may be higher for the rest of your loan term). |
Apply online |
Apply now. It takes just 10 minutes! |
Enquire online |
Enquire now and a St.George home loan expert will call at your preferred time. |
Call us |
To talk with a St.George home loan expert, say “New Mortgage” when prompted. |
Visit a branch |
Find your nearest branch |
What you’ll need to apply |
|
Tips |
If you're a first home buyer, you may be eligible for the Government's First Home Owner Grant Try our handy home loan calculators: |
How to apply
Important information
Conditions, fees and credit criteria apply.
Before making a decision, it’s best to read the terms and conditions:
- Residential Loan Agreement – General Terms and Conditions
- Loan Accounts – Charges for specific services and accounts
Please read these documents and keep a copy. You can request a paper copy at a branch.
The information on our website is prepared without knowing your personal financial circumstances. Before you act on this, please consider if it’s right for you. If you need help, call 13 33 30.
* The comparison rate is based on a loan of $150,000 over a 25 year term. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
^ Rate includes 0.84% p.a. discount for Owner Occupier purposes or a 0.81% p.a. discount for Residential Investment purposes applied to our Basic Home Loan offer for the life of the loan. This offer may be withdrawn at any time. This offer is only available for new Basic Home Loan applications received from 08 May 2017. Interest rates subject to change (and margins may apply). Call us for more information on current offers available. Excludes internal refinances and switches within St.George, Bank of Melbourne and BankSA.
1. As compared to our standard variable interest rate.
2. Redraw requests and repayment pause are subject to our approval. Fees apply.
3. Lender’s Mortgage Insurance is generally payable on loans exceeding 80% of the value of your property
4. Upfront fees and other fees and charges may apply.
# 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 property improvements to an investment property.
## Excludes loan applications for owner occupier purposes (where the owner owns the property in which they live or intend to live in). Includes 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 property improvements to an investment property.