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Make your move with a $2,000 cashback*
Basic Home Loan
Keep it simple, with a basic home loan, no fuss application, no establishment or monthly fees
Apply now
Variable rate¹
Comparison rate³
Our Basic Home Loan makes it simple to finance your dream home, renovation, or refinance. With a low ongoing interest rate and flexible redraw facility, it’s a loan designed to fit your life. Simple, ethical, and personal, so you can focus on building your future with confidence. Keep it simple with a basic home loan, a no fuss application, no establishment or monthly fees, with an ethical bank that helps you get into your own home sooner.
All interest rates
All loan options 
Features
Why a basic home loan?
Competitive interest rates
Repayment flexibility and redraw options
Fast approval process and pre-approval available
No hidden fees or ongoing monthly fees
Pay off your loan sooner with no penalties
Calculators & tools
Check with our calculators
Frequently asked questions
What is a variable home loan?
A variable home loan is one with an interest rate that can change over time, often in response to shifts in the Reserve Bank’s official cash rate. While it can be hard to predict and may lead to fluctuating repayments for borrowers, the variable interest rate offers more flexibility around additional payments and — if market rates decrease — those benefits are typically passed on to you.
Which is better — a fixed rate or variable rate home loan?
As with most things, the answer is: it depends. Both options can provide opportunity and convenience in different ways, but which one is best for you largely depends on your personal circumstances. Speaking to a financial adviser or professional can be useful in helping you weigh up if you would benefit from the security and certainty of a fixed rate loan, or the flexibility and appeal of a variable rate loan.
How can I pay off my loan sooner?
Getting out of debt and paying off your home loan faster can be a good financial move. At Summerland Bank, we don’t penalise those trying to get ahead by making extra repayments on their variable home loan. Even an extra payment once a year can make a big difference and help you reduce the loan term and save money on interest.
Application process
We make things simple for you
Apply online, or start a conversation with our lending specialists
Application and approval
Loan acceptance and funding
Compare home loan options
Use our handy home loan comparison table to compare loan rates, options and features side by side.
Compare now
Start your application today
$2,000 Cashback*
Purchase your first home or refinance your existing home loan, and get rewarded for moving forward. Make the move today.
*terms and conditions apply
Need more help? Schedule a call
Need more help? Schedule a call
Our local team will give you a call at a time that is suitable for you.
The legal stuff
1. Eligibility for the advertised rate: Minimum new loan amount $150,000, principal and interest repayments only. Maximum LVR 60%. Rate expressed as a percentage per annum, interest is calculated daily unless otherwise stated.
2. Eligibility for the advertised rate: Minimum new loan amount $500,000, principal and interest repayments only. Maximum LVR 60%. Rate expressed as a percentage per annum, interest is calculated daily unless otherwise stated.
3. Comparison rate is based on a loan of $150,000 over 25 years.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
4. Loan reverts to applicable variable rate on maturity of the fixed period.
Rates are subject to change. Conditions, fees, and eligibility criteria may apply, see us for details. Terms and Conditions available upon request.
Target market determination available on request at our branches.
Loans Fees & Charges, Loans Rates
Refinance Cashback*
- Eligible Loans will receive a $2,000 cashback payment (the Offer).
- By applying for an Eligible Product, for the primary purpose of refinancing an eligible residential home or investment loan, you agree to the terms and conditions of the Offer.
- The following Summerland Bank products are Eligible Products for the Offer:
- Eco Home Loan,
- Basic Variable Home Loan,
- Premium Home Loan,
- Fixed Rate Home Loan, and
- Investment loans.
- To be eligible for the Offer, submit a new loan application for an Eligible Product between 4 November 2025 and 31 March 2026, and settle the loan on or before 31 May 2026 (the Offer Period).
- Eligible Loans are loans during the Offer Period to owner-occupiers and investors for Eligible Products with a minimum loan amount of $400,000 and a Loan to Value Ratio (LVR) of less than or equal to 80% (including any capitalised fees & charges).
- Greater than 50% of the new loan amount must be used to refinance the balance of a mortgage-secured residential home or investment loan from another financial institution.
- Applicants (as individuals, joint or company borrowers) are limited to one (1) cashback payment per 12-month period.
- A borrower cannot transfer or assign their right to the Offer to any other person.
- The following are ineligible for the Offer:
- Internal refinances and variations.
- New or existing Bridging loans, Overdrafts, & Business loans.
- Applications that include an applicant who has received a cashback payment from Summerland Bank within the preceding 12 months (either as an individual borrower, or as part of a joint or company application).
- Loans paid out or refinanced away before the cashback payment is made.
- The cashback payment will occur within 90 days after the loan settlement date. Payment can only be made to a nominated Summerland Bank Everyday account held in the same name(s) as the eligible loan at the settlement date.
- Summerland Bank may amend or withdraw the Offer at any time.
- Standard credit criteria, terms and conditions, and fees and charges apply.
- The Offer cannot be used in conjunction with other offers.
- Summerland Bank does not accept responsibility for any tax or financial implications arising from accepting this Offer.
- Loans issued by Summerland Financial Services Limited Trading as Summerland Bank, ABN 23 087 650 806 AFSL and Australian Credit Licence 239 238.
First home buyers Cashback*
- Eligible first home buyers who apply for an Eligible Product will receive a $2,000 cashback payment (the Offer).
- By applying for an Eligible Product, for the primary purpose of purchasing or constructing the first owner-occupied residential home, you agree to the terms and conditions of the Offer.
- The following Summerland Bank products are Eligible Products for the Offer:
- Eco Home Loan,
- Basic Variable Home Loan,
- Premium Home Loan, and
- Fixed Rate Home Loan.
- To be eligible for the Offer, submit a new loan application for an Eligible Product between 4 November 2025 and 31 March 2026, and settle the loan on or before 31 July 2026 (the Offer Period).
- Eligible Loans are loans during the Offer Period to owner-occupiers purchasing or constructing their first home with a minimum loan amount of $250,000 and a Loan to Value Ratio (LVR) of less than or equal to 95% (including any capitalised fees & charges).
- Applicants (as individuals, joint or company borrowers) are limited to one (1) cashback payment per 12-month period.
- A borrower cannot transfer or assign their right to the Offer to any other person.
- The following are ineligible for the Offer:
- Applications that include an applicant (borrower) who is not an eligible first home buyer.
- Internal refinances and variations.
- New or existing Bridging loans, Overdrafts, Business loans and Investment loans.
- Applications that include an applicant who has received a cashback payment from Summerland Bank within the preceding 12 months (either as an individual borrower, or as part of a joint or company application).
- Loans paid out or refinanced away before the cashback payment is made.
- All borrowers are eligible first home buyers who:
- Have never owned or co-owned a residential property (excluding vacant land) in Australia, and
- Do not intent to rent any part of the property post settlement.
- The cashback payment will occur within 90 days after the loan settlement date. Payment can only be made to a nominated Summerland Bank Everyday account held in the same name(s) as the eligible loan at the settlement date.
- Summerland Bank may amend or withdraw the Offer at any time.
- Standard credit criteria, terms and conditions, and fees and charges apply.
- The Offer cannot be used in conjunction with other offers.
- Summerland Bank does not accept responsibility for any tax or financial implications arising from accepting this Offer.
- Loans issued by Summerland Financial Services Limited Trading as Summerland Bank, ABN 23 087 650 806 AFSL and Australian Credit Licence 239 238.