Fixed vs Variable Interest Rates

Interest Rates Explained: Flexibility vs Security

Interest, which determines the sum of your repayments, comes in two standard rate-types, typically expressed as either 'variable', or 'fixed'.

  • A variable rate changes as the market does, allowing you the flexibility of making repayments whose sum will reflect market conditions.
  • A fixed rate stays the same for the fixed period term, giving you the security of always knowing the rate at which you're to make repayments.


Which Home Loan is right for me?

Though a conversation with one of our Home Loan Specialists will give you the best idea of the most suitable home loan for you, you should nevertheless start to focus on some of the following considerations.

  • Things like, how flexible do I need my loan repayments to be?
  • How much do I value the security of always knowing how much I have to repay?

And then there's these additional considerations:

  • Do I want access to excess repayments I've made towards my loan?
  • Am I self employed, and forsee difficulty providing ample evidence of my income?
  • What if I need the funds between selling my current home, and buying my new one?

Home Loans are provided by Suncorp-Metway Ltd ABN 66 010 831 722 Australian Credit Licence 229882 (“Suncorp Bank”) to approved applicants only. Terms, conditions, fees and charges apply and are available upon request.