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Basic Variable Home Loans

Basic Variable Home Loans, also known as ‘No-Frills’ loans, provide the borrower with a variable rate home loan product at a rate which is cheaper than that offered by the Standard Variable home loan but with fewer loan features.

These loans especially appeal to price-conscious borrowers who are looking for the cheapest variable loan product available and are not interested in extra loan flexibility.

Like all variable loans, the interest rate and your repayments can vary over the term of the loan and will be generally tied to the interest rate changes by the Reserve Bank of Australia.