ANZ Standard Variable home loan
Variable rateOffsetRedraw
Our most flexible home loan with plenty of features to help suit your needs. You can offset your loan, pay it off early or access extra repayments you've made. Plus, you won't pay any ANZ set up or ongoing fees on your home loan. ANZ Variable Home Loans are available for periods between of at least 1 year and up to 30 years in duration.
- Interest rate a year, from
- 7.49%
- Comparison rate
- 7.49%
- Upfront fees
- $160
- Annual fee
- Not published
- Monthly fee
- None
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 7.49% (variable, live in, principal and interest). The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.
- Monthly repayment
- $4,191
- Total repayments
- $1,508,825
- Interest
- $908,825
Rates
Every rate ANZ publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.
| Rate | Property | Repayments | LVR | Interest rate | Comparison rate |
|---|---|---|---|---|---|
| Variable | Live in | Principal and interest | Up to 80% | 7.49% | 7.49% |
| Variable | Live in | Principal and interest | Over 80% | 7.69% | 7.69% |
| Variable | Live in | Interest only | Up to 80% | 8.04% | 7.74% |
| Variable | Live in | Interest only | Over 80% | 8.24% | 7.94% |
| Variable | Investment | Principal and interest | Up to 80% | 8.09% | 8.09% |
| Variable | Investment | Principal and interest | Over 80% | 8.29% | 8.29% |
| Variable | Investment | Interest only | Up to 80% | 8.34% | 8.21% |
| Variable | Investment | Interest only | Over 80% | 8.54% | 8.41% |
Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Fees and features
Fees
- Upfront fees
- $160
- Annual fee
- Not published
- Monthly fee
- None
Features
- Offset account
- Yes
- Redraw
- Yes
- Highest LVR
- 80%
- Loan amount
- From $20,000
How it compares
Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.
Variable rate
7.49%
For a home you live in, paying principal and interest. Typical is 6.62%.
Comparison rate
7.49%
For the same rate. Typical is 6.70%.
Upfront fees
$160
Typical upfront fees are $600.
Smallest deposit
20%
Most loans need at least 10% of the price.
Pros and cons
Pros
- An offset account. Money in it is taken off your balance when interest is worked out, so your savings and pay cut the interest while staying easy to reach.
- Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
- Redraw. You can take back extra repayments later if you need the money.
- No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
- Interest only available. Some investors use it to keep repayments down for a few years, though the balance doesn't fall in that time.
Cons
- A higher variable rate. 7.49%, above the typical 6.62%. On a $600,000 loan, every 0.10% more costs about $600 a year.
- A $20 late payment fee. Setting up automatic repayments avoids it.
Similar home loans
Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.
- Variable rate from
- 7.49%
- Comparison rate
- 7.54%
- Variable rate from
- 7.49%
- Comparison rate
- 7.93%
- Variable rate from
- 7.49%
- Comparison rate
- 7.75%
