Basic Variable 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 requirements3, with flexible repayment options – weekly, fortnightly or monthly. Plus your deposit is eligible for Parental Guarantee.

1 Interest rate available for new lending on owner-occupied, principal and interest loans less than or equal to 60% of property value. Other rates available for different loan terms.

2 Comparison rate based on $150,000 over 25 years. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Lending, credit criteria, terms/conditions, fees and charges apply and are subject to change.

3 Loan applications are subject to our normal credit approval criteria and may also require approval of a Lenders Mortgage Insurer. Interest rates may vary based on your loan to property value ratio.

^ Available for refinances to MyState Bank from another bank, offer can be withdrawn at any time. Loan applications to be submitted via branch, phone or online between 28/11/2020 and 30/09/2021 and settled by 31/12/2021. Loan applications are subject to MyState's credit approval criteria.
* Maximum of one $2000 cashback per application irrespective of how many borrowers or securities are included on the application. Will be paid into a MyState Bank account within 2 weeks following settlement. Terms & conditions, fees & charges apply and are subject to change. Please seek independent tax advice before acquiring the product.
# Interest rate available on owner-occupied and investment property, principal and interest loans less than 80% of property value. Other rates available for different loan terms. Lending, credit criteria, terms/conditions, fees and charges apply and are subject to change.

A home loan for every stage of life

Frequently Asked Questions

What will I need when applying for a home loan?

You need to be

  • At least 18 years old
  • An Australian citizen or permanent resident
  • Applying in your own name
  • Have a good credit rating

You will need to have

  • Two forms of ID (driver's licence, Australian passport or Medicare card)
  • Two payslips (if you have an employer)
  • Your most recent tax assessment (if you are self-employed)

A little bit of time

  • About 20 minutes
How can I improve my chances of the loan being approved?

You can give yourself the best chance possible by:

  • Work out your borrowing capacity, what repayments can you afford? We will use a range of criteria to decide how much you are eligible to borrow, but you need to be comfortable that you can afford to repay the loan.
  • Establish a good banking history, keep your accounts in good order.
  • Keep your credit rating in good standing by staying on top of payments to avoid arrears, debts or missed payments.
  • Save money, demonstrating your ability to save regularly shows a history of managing money responsibly.
How do I apply for a home loan?

You can complete our online application, make an appointment or call us on 138 001.

Resources

Credit Guide

Privacy Policy

Fees & Charges for Household & Personal Lending

Interest Rates for Household & Personal Lending

Lenders Mortgage Insurance (LMI) Customer Fact Sheet

ABA LMI Guiding Principles

Calculators