Summerland
Basic Variable Home Loan
A simple loan product with redraw and a low ongoing rate. New borrowers pay no establishment or monthly loan administration fees.
Home loansBank updated 23 Sept 2026
At a glance
- Variable (owner occ. P&I)
- 5.89% · 5.95% comparison
- Annual fee
- $96
- Features
- redraw, extra repayments
§ 01 — Rates · 6
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableOwner occupier, principal and interest repayments only. Minimum new loan amount of $150,000, with a loan to valuation ratio of 60% of less. Eligibility for new borrower specials for customers seeking… | Owner occupied · P&I | — | — | 5.89% | 5.95% | — |
| VariableOwner occupier, principal and interest repayments only. Minimum new loan amount of $150,000, with a loan to valuation ratio of 80% of less. Eligibility for new borrower specials for customers seeking… | Owner occupied · P&I | — | — | 6.04% | 6.10% | — |
| VariableOwner occupier, First Home Buyer principal and interest repayments only. Minimum new loan amount of $150,000, with a loan to valuation ratio of 85% of less. Eligibility for new borrower specials for… | Owner occupied · P&I | — | — | 6.09% | 6.15% | — |
| VariableOwner occupier, First Home Buyer principal and interest repayments only. Minimum new loan amount of $150,000, with a loan to valuation ratio of 90% of less. Eligibility for new borrower specials for… | Owner occupied · P&I | — | — | 6.34% | 6.40% | — |
| VariableOwner occupier, First Home Buyer principal and interest repayments only. Minimum new loan amount of $150,000, with a loan to valuation ratio of 95% of less. Eligibility for new borrower specials for… | Owner occupied · P&I | — | — | 6.59% | 6.65% | — |
| VariableOwner occupier, principal and interest loans. Minimum loan amount of $30,000. | Owner occupied · P&I | — | — | 6.59% | 6.76% | — |
§ 02 — Fees · 12
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Contract Variation/Consent Fee | Event | $300 | — | — |
| QuickDebit Dishonour Fee | Event | $15 | — | — |
| Loan Administration Fee | Periodic | $8 | Every 1 mo | New Borrower Special |
| Mortgage Discharge Fee | Transaction | $250 | — | — |
| Redraw Fee - Assisted | Transaction | $25 | — | — |
| Redraw Fee - Electronic | Transaction | No fee | — | — |
| Establishment Fee | Upfront | $300 | — | New Borrower Special |
| Guarantee Establishment Fee | Upfront | $200 | — | — |
| Legal Fee | Upfront | $200 | — | Legal Fee - residential $200; Legal Fee - Non Residential at cost. |
| Loan Increase Fee | Upfront | $300 | — | — |
| Valuation Fee - Construction | Upfront | $800 | — | Payable in addition to the Valuation Fee - residential. |
| Valuation Fee | Upfront | $300 | — | Valuation Fee - Residential $300; Valuation Fee - Non-Residential is at cost. Includes commercial, rural & rural lifestyle properties over 30ha. |
§ 03 — Features
RedrawExtra repaymentsGuarantor optionInstant paymentsPayIDDigital banking
- · Save on paper, receive and view your statements online with eStatements.
§ 04 — Eligibility & limits
- · Minimum age 18
- · Residency: An eligibility constraint based on residency status applies.
- · Available to individuals
- · Amount $30,000 to no maximum
- · Lending criteria apply.
§ 06 — Run the numbers
Put this product through a calculator
Published by Summerland Bank under the Consumer Data Right, last changed by them on 23 Sept 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.