Finty
SWSbank

SWSbank Intro Discounted Standard Variable Home Loan

Variable rateOffsetRedraw

A Discount of 0.40% p.a is applied to the advertised Owner Occupied Standard Variable Home Loan rate for the first 12 months of the loan

Written byDavid Boyd

6.10%

interest rate a year, from

–

comparison rate

Upfront fees
Not published
Annual fee
Not published
Monthly fee
Not published

What it would cost

At the lowest rate of 6.10% (variable, live in, principal and interest), repayments on $600,000 over 30 years would be about $3,636 a month. Use the comparison on the home loans page to see the rate for your own deposit and loan.

Rates

Every rate SWSbank publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.

RatePropertyRepaymentsLVRInterest rateComparison rate
VariableLive inPrincipal and interestAny6.10%–

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
Not published
Annual fee
Not published
Monthly fee
Not published

Features

Offset account
Yes
Redraw
Yes
Highest LVR
Not published
Loan amount
Not published

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

6.10%

For a home you live in, paying principal and interest. Typical is 6.62%.

Pros and cons

Pros

  • A lower variable rate. 6.10%, below the typical 6.62%. On a $600,000 loan, every 0.10% less saves about $600 a year in interest.
  • 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.
  • 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.

Cons

Nothing stands out.

Similar home loans

Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.