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What is Rate Lock and how do I apply?

With the Rate Lock 1 feature, you can lock in the current fixed interest rate at the time of your loan approval. This way, for a fee, you are protected from the possibility of rising interest rates. If the current rate falls below your 'locked in’ rate on your settlement date, you'll be given the lower rate. Rate Lock will hold the current fixed rate for up to 90 days after you have locked in the rate for a fee of 0.15% of the loan amount (minimum fee amount $500). Once approved, you will need to pay the rate lock fee before drawdown of their loan.

To apply for the Rate Lock feature, you can speak directly with your Home Finance Manager or Broker.

For more information, speak to one of our home loan experts on 13 33 30 or drop by a St.George branch.

Important information

1Rate lock: St.George will apply the fixed rate that is available at the loan settlement date or the date the fixed rate period commences, unless the customer locks a fixed rate in on the loan using our Rate Lock feature. The rate lock fee is 0.15% of the loan amount or $500, whichever is higher, capped at $1000 for loans up to $2 mil. For loans above $2mil, the rate lock fee is 0.15% of the loan amount. At the end of the fixed rate period the interest rate will convert to the applicable variable interest rate.

Fixed rate home loan: St.George will apply the fixed rate that is available at the loan settlement date or the date the fixed rate period commences. At the end of the fixed rate period the interest rate will convert to the applicable variable home loan interest rate.