Discounted Variable Rate Home Loans

Home Loans

Interest rate *

3.94

%

p.a.

Comparison rate *

3.96

%

p.a.

Application fee *

$0

Monthly fee *

$0

Discounted Variable Rate Home Loan - where no cashback is taken - Owner Occupied☉︎§︎#^µ︎★︎
*For more information on the rates, fees and charges that can apply please refer to our important information below. Comparison rates are based on a $150,000 secured loan for 25 years. WARNING: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

As the name suggests, variable rates aren’t fixed and neither is your minimum repayment.

When the rate drops, you pay a little less. When it goes up, you pay a little more.

The rate isn’t the only flexible ingredient, though. Our variable rate home loans also offer many convenient features to help you pay off your loan sooner.

Discounted Variable Rate Home Loan

Our Discounted Variable Rate Home Loan is a great choice if you’re a budget-conscious borrower on the lookout for something simple, but effective, that won’t charge you extra if you want to repay it faster (and save heaps in the process).

Limited time offer!
Plus, for a limited of time we’re letting you choose between a $2,500 cashback5 or a reduced rate6 when you take out an eligible home loan with us. Find out more.

Quick and easy application *

Our paperless application makes it simple for you to apply online, over the phone or in person.

No loan application, monthly or annual fees

Check our fees

Unlimited fee-free additional repayments

In fact, repay the whole loan as fast as you like, without penalty.

Redraw those extra repayments

Any time, and at no cost.

Choose between a $2,500 cashback or a reduced rate

Special Offer Discounted Variable Loan for Owner Occupied and Investment

Product NameInterest RateComparison rate
Discounted Variable Rate Home Loan - where no cashback is taken - Owner Occupied☉︎§︎#^µ︎★︎3.94% p.a.3.96% p.a.
Discounted Variable Rate Home Loan - where no cashback is taken - Investment§︎µ︎4.34% p.a.4.36% p.a.
Discounted Variable Rate Home Loan - Special offer - Owner Occupied§︎#^µ︎☆︎★︎4.19% p.a.4.21% p.a.
Discounted Variable Rate Home Loan - Special offer - Investment§︎^µ︎☆︎4.59% p.a.4.61% p.a.
Discounted Variable Rate Home Loan - Special offer - Owner Occupied§︎#♠︎^µ︎★︎4.59% p.a.4.61% p.a.
Discounted Variable Rate Home Loan - Special offer - Investment♠︎§︎^µ︎☆︎4.99% p.a.5.01% p.a.

Discounted Variable Rate Home Loans

Product NameInterest RateComparison rate
Discounted Variable Rate Home Loan - Principal & Interest - Owner Occupied§︎☆︎♙︎★︎5.55% p.a.5.57% p.a.
Discounted Variable Rate Home Loan - Interest Only - Owner Occupied§︎♠︎☆︎★︎5.95% p.a.5.97% p.a.
Discounted Variable Rate Home Loan - Principal & Interest - Investment§︎☆︎♙︎5.95% p.a.5.97% p.a.
Discounted Variable Rate Home Loan - Interest Only - Investment§︎♠︎☆︎6.35% p.a.6.37% p.a.

Discounted Variable Rate Home Loans fees

Fee

Amount

Application Fee

$0

Monthly Fee

$0

Redraw Fee

$0

Other fees and charges may apply. This is general advice only and you should consider the terms and conditions before determining whether any of our products are suitable to your situation.

Start your application now

For a home loan that makes you feel at home – get in touch with us today.

Start your home loan application online anytime, anywhere

Details you’ll need to have handy:

  • your income and living expense details
  • information about what you own and what you owe.

We’ll call you back within 48 hours to talk you through the next steps.

Apply now

Don’t have time to visit us?

No problem. We can come to you!

Simply book an appointment with one of our Mobile Lending Managers at a time and place that suits you.

Make an appointment

Buy your first home

Buying your first home can be both exciting and overwhelming. After all, it’s your first step onto the property ladder and quite possibly your first major investment.

It’s also an expensive and time-consuming process. So even though this is your first house, you should try to ensure that you’ll be happy in it for as long as possible. We have created this guide to help you do exactly that.

Learn more

Our Award Winning Home Loans

2022 RateCity Gold Awards

We are pleased to announce that we were awarded the Best Investor Variable Home Loan for the Discounted Variable Rate Home Loans. The RateCity Gold awards celebrate lenders that offer consistently competitive products to Australian consumers.

The credit union difference

At Credit Union SA, we offer all the same services as a bank but with one very important difference - our highest priorities are our members and our community.

Learn more about us

FREQUENTLY ASKED QUESTIONS
View all Loans FAQs

Providing you redraw a minimum of $500 at a time, you can redraw excess funds at any time for no fees. To find out more visit the Compare Home Loans page.

Refinancing is when you move your home loan from one lender to another. You might do this to get a better interest rate, better loan features, better service… any reason at all really! Be careful though, as there may be some Help me refinance my Home Loan.

You certainly can, and on Variable Rate Home Loans you can make an unlimited amount of extra payments without penalty. For Fixed Rate Home Loans, there are limits as to how much extra you can put in. To find out more visit the Compare Home Loans page.

Struggling to save up enough of a deposit to buy your first home or first investment property? Then our Family Guarantee could be just the thing to get you into a place you can call your own. Our Family Guarantee enables first home buyers with limited savings to enter the property market sooner*.

Here's how it works – If your parents or other family members have equity in their home, investment property or have a Term Deposit with Credit Union SA, you can use that equity or investment to guarantee a portion of your loan.

Which family members can provide a Family Guarantee?

  • Parents
  • Parents-in-law
  • Step-parents

Credit Union SA will consider the provision of guarantees by other immediate family members where a guarantee from the above-mentioned family members would not be appropriate.

When can a Family Guarantee be used?

Guarantees from family members can only be provided to assist first home buyers/investors to:

  • purchase a new property;
  • purchase an established property;
  • build a new home.

Where a borrower is entitled to a government grant, the entitlement will not be affected by the provision of a Family Guarantee. Family Guarantees will not usually be accepted by the Credit Union where offered to support borrowings for a second/subsequent property or for any other purpose.

To find out more about leveraging the equity in Mum and Dad's home so you can get into yours, have an obligation-free chat with one of our experienced staff, Mobile Managers or download our guide.

Download our Family Guarantee Guide

*Subject to responsible lending criteria.

We offer Home Loan Offset Accounts on our Standard Variable Rate Home Loans and variable loans under a Home Loan Package. To find out more visit the Compare Home Loans page.

To check the current Home Loan rates on the different loans available, visit our rates page.

INFORMATION YOU SHOULD KNOW

☉︎

Offer available on new loans with minimum new borrowings of $150,000 where the LVR is 80% or less and no cashback is taken. Not available on fixed rate special offers and bridging loans.

§︎

Conditions, fees and lending criteria apply and are available on request. Comparison rates are based on a $150,000 secured loan for 25 years. WARNING: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

#

You must hold, or be approved for, total Package borrowings of at least $150,000. Conditions and annual package fee of $395 applies.

^

This offer is available on new loans with minimum new borrowings of $150,000. Bridging loans are not eligible for this offer.

µ︎

Offers valid as at 11/08/2022 are limited and may be withdrawn or altered at any time without notice. Interest rates are subject to change.

★︎

Available for Family Home Guarantee (FHG) and First Home Guarantee (FHBG) participants who meet the scheme eligibility requirements of NHFIC Scheme Loans. Credit Union SA First Home Buyers Grant is not available on NHFIC Scheme loans. Interest Only only available for construction, after your construction period your loan will revert to principle and interest

☆︎

Cashback offer available on any owner-occupied or investment loan with minimum new borrowings of $250,000 where the loan to value ratio is 80% or less. Funds available at settlement, except in the case of construction loans where cashback will be paid on confirmation that the foundation has been poured. Limit of one cashback per household. Not available on fixed rate special offers and bridging loans.

♠︎

Interest only interest rates apply when you request to only repay interest charges on your loan. Interest only are only available where the loan to value ratio is 80% or less. For construction loans, you will only be charged interest only rates if, after your construction period, your repayments will not be principal and interest repayments.

♙︎

Available where the loan to value ratio is 97% or less, including capitalised LMI, for owner occupied or investment loans

2

The target market for this product can be found within the product’s Target Market Determination (TMD), available at creditunionsa.com.au/legal/terms-and-conditions/target-market-determination