What does a ‘No Frills’ home loan mean?

If you're looking for a basic home loan with a low interest rate, a 'No Frills' home loan may be an ideal option. Typically, these loans offer a lower interest rate than standard variable home loan rates, which may help you save money on interest payments over time. Unlike other types of home loans, such as a package loan, the No Frills Home Loan does not include additional features or benefits like  offset accounts or repayment holidays.

This means the No Frills Home Loan offers borrowers a simple and straightforward loan option when looking to purchase a property or refinance an existing loan. Borrowers interested in this type of loan are typically looking for a low-interest rate and are comfortable with a basic loan structure.

One of the unique benefits of our No Frills Home Loan is the ability to split your loan with a Fixed Rate Home Loan. A split home loan offers borrowers the opportunity to allocate a portion of their loan to a low variable interest rate and the other portion to a fixed interest rate. The only requirement to consider is that the borrower meets the highest minimum deposit amount to be able to access the split option.