Aspect Learning Guide
Variable rate
A variable rate can move up or down and often provides more flexibility.
Variable rate explained in plain English
A variable rate can move up or down and often provides more flexibility.
How it works
The rate can change when the lender changes its variable rates.
Benefit
Variable loans often allow offset accounts, extra repayments and easier refinancing.
Trade-off
Repayments can increase if rates rise.
General information only: This guide does not take into account your personal objectives, financial situation or needs. Lending policy varies between lenders.