Basic Home Loan

Get a loan that's simple to use and easy to understand. Just a great low rate that helps you pay your home off faster. Available on new loans $100,000+, borrowing less than 90% of the property value subject to loan approval and lenders mortgage insurance requirements, with flexible repayment options, weekly, fortnightly or monthly. Plus your deposit is eligible for Parental Guarantee.
Category: Home Loans  Last Updated September 20, 2024  Effective November 1, 2024

 General Lending Rates

Rates listed below are for a VARIABLE Owner Occupied P&I product. Additional Information Owner Occupied with Principle and Interest repayments
Interest Rate
6.04% PA
Comparison Rate
6.07%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.
Product Variations
Product rates and conditions will usually vary based on the LVR and other conditions..
  LVR
Minimum: 0.60001 PERCENT Maximum: 0.7 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.09%, Comparison Rate 6.12%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  LVR
Minimum: 0.70001 PERCENT Maximum: 0.8 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.19%, Comparison Rate 6.22%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  LVR
Minimum: 0.80001 PERCENT Maximum: 0.9 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.48%, Comparison Rate 6.51%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  LVR
Minimum: 0.90001 PERCENT Maximum: 0.98 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 7.14%, Comparison Rate 7.17%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  LVR
Minimum: 0.00001 PERCENT Maximum: 0.8 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 7.28%, Comparison Rate 7.31%
  • Repayment Type: Interest Only
  • Loan Purpose: Owner Occupied
  LVR
Minimum: 0.80001 PERCENT Maximum: 0.98 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.19%, Comparison Rate 6.22%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied

 Product Features

  • Digital Banking Additional Information: Just another way you can connect your money with your lifestyle. From banking easily on the go with the MyState Bank App, or at home through Internet Banking, to making faster payments with digital wallets or PayID, there are more ways than ever to access your money. Keeping your bank accounts safe is a key priority for us, so you can be confident starting today.
  • Other Additional Information: Parental Guarantee. Whether you're buying your first home or just need a little help getting into your next home, a Parental Guarantee can help you get there sooner.
  • Other Additional Information: What is Lenders Mortgage Insurance? Also known as LMI, this is insurance that generally protects the lender in the event you default on your repayments. This insurance is required if you're borrowing more than 80% of the property value.
  • Redraw Additional Information: Fee free online redraws with no minimum amount rules.

 Product Eligibility

  • Min Age - 18. Additional Information: A customer is or older than 18 years of age
  • Residency Status - An Australian Citizen Or Permanent Resident.

 Bank Fees and Charges

  • Additional Valuation Fee (Event), Amount: 200.00. Additional Information: Payable per each additional security.
  • Cheque Dishonour Fee (Event), Amount: 20.00. Additional Information: Whenever a cheque deposited to your loan account is dishonoured.
  • Company / Trust Fee (Event), Amount: 200.00. Additional Information: Payable where the borrower is a company or trust.
  • Consent / Subsequent Dealing Fee (Event), Amount: 150.00. Additional Information: Payable on a request for each consent given or subsequent dealing request approved under this loan contract.
  • Copy Of Title Fee (Event), Amount: 30.00. Additional Information: Payable upon a request to provide a copy of the Certificate of Title.
  • Dishonour And Rejection Fee (Event), Amount: 30.00. Additional Information: Whenever a payment to your loan account is dishonoured or rejected.
  • Foreign Income Fee (Event), Amount: 600.00. Additional Information: Payable where there is a foreign income source.
  • Letter Of Variation Fee (Event), Amount: 150.00. Additional Information: Payable on approval of each variation under this loan contract.
  • Loan Re-draw Fee (staff Assisted) (Event), Amount: 30.00. Additional Information: Payable on an approval of each re-draw request (staff assisted only).
  • Mortgage Discharge Fee (Event), Amount: 380.00. Additional Information: Payable on discharge of security.
  • Progressive Draw Fee (Event), Amount: 150.00. Additional Information: Payable on an approval of each progressive draw request.
  • Switch Fee (Event), Amount: 150.00. Additional Information: Payable on any switch between different interest rate types (for example, a switch from a variable interest rate to a fixed interest rate or to a different type of variable interest rate, or a switch from a fixed interest rate to a variable interest rate).
  • Title Production Fee (Event), Amount: 150.00. Additional Information: Payable upon a request to produce the certificate of title.
  • Establishment Fee - Owner Occupied Fhlds (Upfront), Amount: 0.00.
  • Establishment Fee - Owner Occupied (Upfront), Amount: 0.00.
  • Settlement Fee (Upfront), Amount: 350.00.
  • Establishment Fee - Residential Investment (Upfront), Amount: 300.00.

 Limitations & Restrictions (Constraints)

  • Min Balance of 100000.00

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