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Variable Rate Home Loans

A variable rate home loan is where your interest rate moves up and down in line with the Reserve Bank of Australia’s (RBA) official interest rate.

Variable rates are the preferred option for most people as you have increased flexibility with repayments, access to redraw facilities and there are no early termination fees or break costs. If the RBA lowers official interest rates, your rate will usually decrease with it. However, if the RBA increases official interest rates, your rate will usually increase as well as your regular repayments.