Summerland
Basic Variable Investment 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 8 Sept 2026
At a glance
- Variable (investor P&I)
- 6.09%
- Annual fee
- $96
- Features
- redraw, extra repayments
§ 01 — Rates · 3
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableInvestment, 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 bot… | Investment · P&I | — | — | 6.09% | 6.15% | — |
| VariableInvestment, 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 bot… | Investment · P&I | — | — | 6.24% | 6.30% | — |
| VariableInvestment, principal and interest, interest only loans. Minimum loan amount of $30,000. | Investment · P&I | — | — | 6.79% | 6.85% | — |
§ 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 | — |
| Mortgage Discharge Fee | Transaction | $250 | — | — |
| Redraw Fee - Assisted | Transaction | $25 | — | — |
| Redraw Fee - Electronic | Transaction | No fee | — | — |
| Establishment Fee | Upfront | $300 | — | — |
| 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 8 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.