Must-know changes: Interest rates and more

Posted: 15-02-2024

Update on Interest Rates, effective 15 February 2024

Home Loans

Certainty at a great rate, with no break costs¹

We’ve reduced our fixed rate loadings across Prime to Specialist loan options. For new applications, your client can fix:

Their interest rate for 2 years with no additional loading.
Their interest rate for 3 years with a 5bps loading.

Plus, you could unlock greater servicing options with our 1% serviceability buffer for fixed rate borrowers for select Prime and Non-Conforming scenarios.

Terms and conditions apply. Check out our serviceability calculator.

To lock in these interest rates for 90 days from Final Approval, submit the Fixed Interest Rate Lock Authority Request form (fees apply¹).

For full range of home loan interest rates and fees, see the rate card.

SMSF Loans

For the full range of interest rates and fees, see the SMSF rate card. SMSF loan options are for corporate trustee SMSF borrowers only.

Residential security SMSF loans

Our Smart Start promotion for residential security SMSF loans has been extended until 14 March 2024². Your clients can continue to access:

Interest rates from 7.24% p.a.³ for Prime and 7.94% p.a.³ for Near Prime loan options
50% off establishment fees^4.

Commercial security SMSF loans

Until 14 March 2024, we’re discounting interest rates between 15 – 25 bps for Prime commercial security SMSF loans⁵. Access interest rates from as little as 7.99% p.a⁶.

What's New?

SMSF loan short application form

For a one-touch approval, we’ve created a short application form for SMSF loans. It details everything you need to include as part of the application.

Download

Boarding house and NDIS Fact Sheets – Commercial loans

To further support you in understanding our policy for boarding houses and NDIS securities, we’ve created fact sheets that provide additional information and frequently asked questions.

Download

Information is correct as of 15 February 2024 and subject to change at any time.

Applications are subject to credit assessment, eligibility criteria and lending limits. Terms, conditions, fees and charges apply. Information provided is factual information only and is not intended to imply any recommendation about any financial product(s) or constitute tax advice. It is recommended that Independent legal, financial and tax advice is obtained.

¹There is a non-refundable, minimum fee of $750 per home loan application to lock in a fixed interest rate for 90 days. For home loan balances greater than $500,000, the rate lock fee is 0.15% of the fixed interest rate loan balance at settlement. For example, for a fixed rate loan amount of $600,000 the rate lock fee will be $600,000 x 0.15% = $900.

²Interest rate promotion (Promotion) applies to new SMSF residential security loan applications. Refer to the rate card for our full range of interest rates and fees. Applications must be submitted between 12:00 am AEDT 16 October 2023 and 11:59 pm AEDT 14 March 2024. Applications lodged after the Promotion period will be offered the current interest rates then applicable. This Promotion is subject to change and may be varied or withdrawn at any time. The actual interest rate will depend on the borrower’s circumstances and the information verified during the loan application assessment.

³Until 11:59 pm AEDT 14 March 2024, Prime SMSF residential security loan option interest rates range from 7.24 - 7.74% p.a., and Near Prime SMSF residential security loan option interest rates range from 7.94 - 8.24% p.a. Interest rates are correct as of 15 February 2024, are subject to change and may be varied or withdrawn at any time. The actual interest rate applicable will depend on the individual borrower's circumstances. 

⁴Establishment fee promotion (Promotion) applies to new SMSF residential security loan applications. Refer to the rate card for our full range of interest rates and fees. Applications must be submitted between 12:00 am AEDT 16 October 2023 and 11:59 pm AEDT 14 March 2024. Applications lodged after the Promotion period will be offered the current establishment fee then applicable. This Promotion is subject to change and may be varied or withdrawn at any time.

⁵Interest rate promotion (Promotion) applies to new SMSF commercial security loan applications. Refer to the rate card for our full range of interest rates and fees. Applications must be submitted between 12:00 am AEDT 15 February 2024 and 11:59 pm AEDT 14 March 2024. Applications lodged after the Promotion period will be offered the current interest rates then applicable. This Promotion is subject to change and may be varied or withdrawn at any time. The actual interest rate will depend on the borrower’s circumstances and the information verified during the loan application assessment.

⁶Until 11:59 pm AEDT 14 March 2024, Prime SMSF commercial security loan option interest rates range from 7.99 - 8.27% p.a., and Near Prime SMSF commercial security loan option interest rates range from 8.94 - 9.39% p.a. Interest rates are correct as of 15 February 2024, are subject to change and may be varied or withdrawn at any time. The actual interest rate applicable will depend on the individual borrower's circumstances. 