Standard Variable Home Loan
100%
offset account
Redraw
facility
No monthly
or annual fees
Overview
The Standard Variable Home Loan features:
- A competitive variable interest rate
- 100% offset facility
- The option to make extra repayments to reduce your loan term
- Minimum loan amount of just $50,000
- Loan term up to 30 years
- Principal and interest repayments
- Flexible repayment frequencies - pay weekly, fortnightly or monthly
- Redraw facility ($500 minimum)
- Split Option (with other Australian Military Bank home loans)
- No monthly or annual fees
Rates & Fees
Here’s a summary of the rates and fees for the Standard Variable Home Loan:
- Interest rate: 6.64% p.a.2
- Comparison rate*: 6.67% p.a.3
*Comparison rate based on a loan of $150,000 repaid over 25 years. WARNING: The comparison rate is applicable only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
- Application fee: $450
- Monthly fee: $0
- Annual fee: $0
- Mortgage discharge fee: $120
- Lenders Mortgage Insurance (LMI)4: is required where borrowers do not have a deposit of at least 20% of the purchase price
- 3rd party charges: Stamp duty, legal fees and valuation fees apply
Additional fees may be payable. For more information please see our Fees and Charges Schedule.
Download our Fees and Charges Schedule
Questions
We’re often asked similar questions about our Standard Variable Home Loan so here are our top five – can’t see your question? Call 1300 13 23 28.
starting from
starting from
Use the arrows to scroll through the many Australian Military Bank Home Loans options RESET
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Our simple vanilla loan with a super-low variable rate, unlimited additional repayments as well as the ability to redraw.5.64% p.a.5.67% p.a.Up to 95%$0$0Principal and interest only$150,000Up to 30 yearsOwner OccupierVariable
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Get the flexibility of a variable rate with the benefit of a 100% offset facility5.99% p.a.6.02% p.a.Up to 95%$0$0Principal and interest$150,000Up to 30 yearsOwner OccupierVariable
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Two year fixed home loan offering the security of knowing what your repayments will be5.59% p.a.6.47% p.a.Up to 90%$0$0Principal and interest$150,000Up to 30 years with a 2 year fixed rate periodOwner OccupierFixed
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Three year fixed home loan offering the security of knowing what your repayments will be5.74% p.a.6.42% p.a.Up to 90%$0$0Principal and interest$150,000Up to 30 years with a 3 year fixed rate periodOwner OccupierFixed
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A variable rate loan helping you to build your dream home, granny flat or renovate your existing home6.28% p.a.6.31% p.a.Up to 90%$0$0Interest only$50,0002 yearsOwner OccupierVariable
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Variable rate home loan with the benefit of 100% offset facility6.64% p.a.6.67% p.a.Up to 95%$0$0Principal and interest$50,000Up to 30 yearsOwner OccupierVariable
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One year fixed home loan offering the security of knowing what your repayments will be5.99% p.a.6.61% p.a.Up to 90%$0$0Principal and interest$150,000Up to 30 years with a 1 year fixed rate periodOwner OccupierFixed
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Five year fixed home loan offering the security of knowing what your repayments will be6.05% p.a.6.42% p.a.Up to 90%$0$0Principal and interest$150,000Up to 30 years with a 5 year fixed rate periodOwner OccupierFixed
The small print
Rates effective for new business from 03 June 2025. Lending criteria, terms, conditions, fees and charges (including early break fees) apply.
1 During an Interest Only period, your interest only repayments will not reduce your loan balance. This may mean you pay more interest over the life of the loan.
2 Interest rates are based on new owner occupier home loans for $150,000 with a Loan to Value Ratio (LVR) of:
- 60% for RateSaver and Value loans (incl. DHOAS) when making monthly principal & interest repayments,
- 98% for Fixed Rate loans (incl. DHOAS) when making monthly principal & interest repayments,
- 98% for Construction loans (incl. DHOAS) when making monthly interest only repayments,
- 98% for Standard Variable loans (incl. DHOAS) when making monthly principal & interest repayments.
Rates are available for new loan applications, include a discount to the applicable reference rate and subject to change.
At the end of the fixed period on the Fixed Rate Home Loans (incl. DHOAS) , the loan will convert to the Standard Variable Home Loan (incl. DHOAS) at the applicable variable rate for a principal and interest loan.
3 Comparison rate based on a $150,000 secured loan over 25 years with monthly repayments. WARNING: This comparison rate applies only to the example given and may not include all fees and charges. Different terms, fees and loan amounts will result in a different comparison rate. Comparison rates for variable interest only home loans are based on an initial 5-year interest only period. Comparison rates for fixed rate interest only home loans are based on an initial interest only period equal in term to the fixed period.
4 Lenders Mortgage Insurance (LMI) is required when borrowing more than 80% loan to value ratio (LVR). Our LMI provider may require additional terms and conditions. The calculation of the maximum LVR includes the LMI premium. A minimum 5% depoit is required.
5 The Home Guarantee Scheme (HGS) is an Australian Government initiative to support eligible home buyers to buy a home sooner. The Scheme is administered by Housing Australia. You can find more information about the HGS on the Housing Australia website.
6 Based on total average monthly balance and applies to ATM, EFTPOS, Direct Debit and BPAY® transactions.
The Target Market Determinations (TMD) for our products are available here
® Registered to BPAY Pty Ltd ABN 69 079 137 518
The small print
Rates effective for new business from 03 June 2025. Lending criteria, terms, conditions, fees and charges (including early break fees) apply.
1 During an Interest Only period, your interest only repayments will not reduce your loan balance. This may mean you pay more interest over the life of the loan.
2 Interest rates are based on new owner occupier home loans for $150,000 with a Loan to Value Ratio (LVR) of:
- 60% for RateSaver and Value loans (incl. DHOAS) when making monthly principal & interest repayments,
- 98% for Fixed Rate loans (incl. DHOAS) when making monthly principal & interest repayments,
- 98% for Construction loans (incl. DHOAS) when making monthly interest only repayments,
- 98% for Standard Variable loans (incl. DHOAS) when making monthly principal & interest repayments.
Rates are available for new loan applications, include a discount to the applicable reference rate and subject to change.
At the end of the fixed period on the Fixed Rate Home Loans (incl. DHOAS) , the loan will convert to the Standard Variable Home Loan (incl. DHOAS) at the applicable variable rate for a principal and interest loan.
3 Comparison rate based on a $150,000 secured loan over 25 years with monthly repayments. WARNING: This comparison rate applies only to the example given and may not include all fees and charges. Different terms, fees and loan amounts will result in a different comparison rate. Comparison rates for variable interest only home loans are based on an initial 5-year interest only period. Comparison rates for fixed rate interest only home loans are based on an initial interest only period equal in term to the fixed period.
4 Lenders Mortgage Insurance (LMI) is required when borrowing more than 80% loan to value ratio (LVR). Our LMI provider may require additional terms and conditions. The calculation of the maximum LVR includes the LMI premium. A minimum 5% depoit is required.
5 The Home Guarantee Scheme (HGS) is an Australian Government initiative to support eligible home buyers to buy a home sooner. The Scheme is administered by Housing Australia. You can find more information about the HGS on the Housing Australia website.
6 Based on total average monthly balance and applies to ATM, EFTPOS, Direct Debit and BPAY® transactions.
The Target Market Determinations (TMD) for our products are available here
® Registered to BPAY Pty Ltd ABN 69 079 137 518