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What’s a split home loan?

Freedom + certainty
“Should I go for the certainty of fixed rates or the freedom of variable rates?” When it comes to choosing the right home loan, splitting lets you have your cake and eat it.

How does a split home loan work?

Your home loan amount’s divided into separate accounts, with different rates and fees. You decide which portion of your loan amount is on a 1-5 year fixed interest rate, and how much goes on a variable interest rate (split loan calculator can help you decide). You’ll get separate statements, so you can manage repayments and check each loan balance.

Fixed loans – lock in some certainty

  • Your fixed portion is protected if interest rates rise during your fixed term, so you’ll always know what your rate, repayments and interest charges will be.
  • Your fixed portion redraw facility lets you repay your home loan faster, up to your extra repayment limit1. With St.George, you can even redraw these extra repayments.
  • If rates go down, you’ll still need to pay your fixed rate until your fixed rate term ends. And changing your fixed rate or repayment type can result in a break cost1, so fully understand this before you fix.

Variable loans – the freedom to pay it off early

  • Your variable portion lets you make unlimited additional repayments (and unlimited redraws2).
  • Our Standard Variable Rate home loan also comes with an optional transaction offset account linked to your loan, where every dollar in your offset reduces your daily home loan interest charges. Offset isn't available with our variable Basic home loan.


Looking to get ahead on your home loan repayments? If you have a split loan, you’ll pay less home loan interest on your ‘available’ funds if you move them into whichever fixed or variable account has the higher interest rate at the time. Just remember not to exceed your fixed prepayment limit, or there may be break costs:


  Extra repayment limit Redraw limit
Variable loan Unlimited $100k daily
Loan fixed after 18/05/2019 $30k total during your fixed term (break cost1 if exceeded) $30k total during your fixed term
Loan fixed before 18/05/2019 $10k per year, and $30k total during your fixed term (break cost1 if exceeded) $10k per year

Why split your home loan?

Best of both worlds

The certainty of a fixed rate and the flexibility of a variable rate, with up to four separate loan accounts.

No fee to split

Whether you’re new to St.George or already have a home loan with us, there’s no fee to split your home loan.

Minimise interest

Make extra repayments into the account with the highest interest rate (there’s a $30k prepayment limit1 during your fixed rate term).

Option to re-fix

You may be able to re-fix your interest rate at the end of your fixed rate term, or let it revert to our Standard Variable Rate3.

Help me decide how much to split

Split loan calculator

Enter some loan details. Then slide the scale for a snapshot of variable and fixed repayment portions.

Estimate now

Help me choose a loan

Our home loan selector matches options – whether you’re looking for a new loan, or checking your St.George loan’s still the right fit.

Let's go

Compare interest rates

Fixed and variable. Interest Only and investing. Explore rates and options, based on your situation.

Compare rates now

How to apply for a split home loan


Start your application online

Apply online for conditional approval or a new split home loan.

  • You could get approval in 1 business day
  • Dedicated lender will support you from application to settlement.


Book an appointment

A member of our team will be in touch within 1 business day.

  • They'll answer your questions and guide you through your next steps
  • A lender can start your application for you.


Split your existing home loan


What's the best ratio for a split loan?

How you portion your split mortgage accounts and repayments is completely up to you, and will depend on your financial circumstances. Our split home loan calculator estimates the monthly repayment portions of your variable rate and fixed rate loan for you – just slide the scale and it may help you find the best fit.

How many split loans can I have?

At St.George, you can split between up to four separate fixed and variable rate home loan accounts against the same property.

Can I package my split loan?

Yes. An Advantage Package can be added to our fixed rate loans and Rocket variable rate home loans.

Save time, apply online

It should only take around 10-20 min to apply.


Book an appointment

A member of our team will be in touch.


Talk with us 
1300 304 660

8am-10pm Mon-Fri
9am-5pm Sat-Sun


Important information

Conditions, credit criteria, fees and charges apply. Based on St.George’s credit criteria, residential lending is not available for Non-Australian resident borrowers. Interest rates subject to change. Before making a decision, it’s best to read the terms and conditions.

Loan Accounts – Charges for specific services and accounts (PDF 43KB)

This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice.

1Break costs: $30,000 prepayment threshold for the entire fixed period without break costs or fees applying. For fixed rate loans taken up prior to 18 August 2019, customers can make prepayments of up to the $10,000 prepayment threshold in each 12 month period without break cost or fees applying. Prepayment break costs are explained in the Things You Should Know About Break Costs (PDF 202KB).

2Redraw facility: if you have 'available funds' (you’re ahead on your home loan repayments) and you’ve activated your redraw facility, you’re free to redraw them with no redraw fee. Up to $100k will be available to redraw from your variable loan online or over the phone each day (in-branch it’s $30k). For fixed loans you can redraw up to your prepayment threshold during your fixed term. Read our Home Loan Redraw Form (PDF 83KB) for full details.

3If at any time before the end of a fixed home loan interest rate period you switch to another product, interest rate (fixed or variable) or repayment type, then a break cost and switch fee may apply. Switch break costs are explained in the Things You Should Know About Break Costs (PDF 202KB). (PDF 202KB)