Featured Home Loan
Discounted Variable - Principal & Interest - Owner Occupied ≤97% LVR ☉︎§︎#
Interest rate
7.04 % p.a.
Comparison rate
7.07 % p.a.
Application fee
$0
Monthly fee
$0
As the name suggests, variable rates aren’t fixed and neither is your minimum repayment.
When the rate drops, you pay a little less. When it goes up, you pay a little more.
The rate isn’t the only flexible ingredient, though. Our variable rate home loans also offer many convenient features to help you pay off your loan sooner.
Discounted Variable Rate Home Loan
Our Discounted Variable Rate Home Loan is a great choice if you’re a budget-conscious borrower on the lookout for something simple, but effective, that won’t charge you extra if you want to repay it faster (and save heaps in the process).
Quick and easy application *
Our paperless application makes it simple for you to apply online, over the phone or in person.
No loan application, monthly or annual fees
Check our fees
Unlimited fee-free additional repayments
In fact, repay the whole loan as fast as you like, without penalty.
Redraw those extra repayments
Any time, and at no cost.
Discounted Variable Rate Home Loans
| Product Name | Interest Rate | Comparison rate |
|---|---|---|
| Discounted Variable - Principal & Interest - Owner Occupied ≤97% LVR ☉︎§︎# | 7.04% p.a. | 7.07% p.a. |
| Discounted Variable - Interest Only - Owner Occupied ≤80% LVR ^☉︎§︎# | 7.84% p.a. | 7.42% p.a. |
| Discounted Variable - Principal & Interest - Investment ≤97% LVR ☉︎# | 7.29% p.a. | 7.32% p.a. |
| Discounted Variable - Interest Only - Investment ≤80% LVR ^# | 7.59% p.a. | 7.45% p.a. |
Discounted Variable Rate Home Loans fees
Fee
Amount
$0
$0
$0
$300
Other fees and charges may apply. This is general advice only and you should consider the terms and conditions before determining whether any of our products are suitable to your situation.
Start your application now
For a home loan that makes you feel at home – get in touch with us today.
Start your home loan application online anytime, anywhere.
Details you’ll need to have handy:
- your income and living expense details
- information about what you own and what you owe.
We’ll call you back within 48 hours to talk you through the next steps.
Don’t have time to visit us? No problem. We can come to you!
Simply book an appointment with one of our Mobile Lending Managers at a time and place that suits you.
FREQUENTLY ASKED QUESTIONS
View all Loans FAQsProviding you redraw a minimum of $500 at a time, you can redraw excess funds at any time for no fees. To find out more visit the Compare Home Loans page.
Refinancing is when you move your home loan from one lender to another. You might do this to get a better interest rate, better loan features, better service… any reason at all really! Be careful though, as there may be some Help me refinance my Home Loan.
You certainly can, and on Variable Rate Home Loans you can make an unlimited amount of extra payments without penalty. For Fixed Rate Home Loans, there are limits as to how much extra you can put in. To find out more visit the Compare Home Loans page.
Struggling to save up enough of a deposit to buy your first home or first investment property? Then our Family Guarantee could be just the thing to get you into a place you can call your own. Our Family Guarantee enables first home buyers with limited savings to enter the property market sooner*.
Here's how it works – If your parents or other family members have equity in their home, investment property or have a Term Deposit with Credit Union SA, you can use that equity or investment to guarantee a portion of your loan.
Which family members can provide a Family Guarantee?
- Parents
- Parents-in-law
- Step-parents
Credit Union SA will consider the provision of guarantees by other immediate family members where a guarantee from the above-mentioned family members would not be appropriate.
When can a Family Guarantee be used?
Guarantees from family members can only be provided to assist first home buyers/investors to:
- purchase a new property;
- purchase an established property;
- build a new home.
Where a borrower is entitled to a government grant, the entitlement will not be affected by the provision of a Family Guarantee. Family Guarantees will not usually be accepted by the Credit Union where offered to support borrowings for a second/subsequent property or for any other purpose.
To find out more about leveraging the equity in Mum and Dad's home so you can get into yours, have an obligation-free chat with one of our experienced staff, Mobile Managers or download our guide.
Download our Family Guarantee Guide*Subject to responsible lending criteria.
We offer Home Loan Offset Accounts on our Standard Variable Rate Home Loans and variable loans under a Home Loan Package. To find out more visit the Compare Home Loans page.
Buy your first home
Buying your first home can be both exciting and overwhelming. After all, it’s your first step onto the property ladder and quite possibly your first major investment.
It’s also an expensive and time-consuming process. So even though this is your first house, you should try to ensure that you’ll be happy in it for as long as possible. We have created this guide to help you do exactly that.
2022 RateCity Gold Awards
We are pleased to announce that we were awarded the Best Investor Variable Home Loan for the Discounted Variable Rate Home Loans. The RateCity Gold awards celebrate lenders that offer consistently competitive products to Australian consumers.
The credit union difference
At Credit Union SA, we offer all the same services as a bank but with one very important difference - our highest priorities are our members and our community.
GUIDES AND NEWS
How we
can help
Contact us
You can contact us by calling us, visiting us, making an appointment, or using Secure Mail.
Call us
We’re here to answer any questions you might have – make sure you have your Access Code ready!
Visit us
400 King William Street, Adelaide has self-service options available to make your life easier.
Mobile Lending Managers
Our Mobile Lending Managers can help our members by phone or email, with video calls now available.
INFORMATION YOU SHOULD KNOW
☉︎
Available where the loan to value ratio is 97% or less, including capitalised LMI.§︎
Available for Family Home Guarantee (FHG), First Home Guarantee (FHBG) and Regional First Home Buyer Guarantee (RFHBG) participants who meet the scheme eligibility requirements of Housing Australia Scheme Loans. Interest Only only available for construction, after your construction period your loan will revert to principal and interest.#
Interest rates are subject to change without notice. Comparison rates are based on a $150,000 secured loan for 25 years. WARNING: These comparison rates are 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.^
Interest only repayments are only available where the loan to value ratio is 80% or less.1
Download a copy of our Home Loan Interest Rates, Fees and Charges.
2
The target market for this product can be found within the product’s Target Market Determination (TMD), available at creditunionsa.com.au/legal/terms-and-conditions/target-market-determination.