A fixed interest rate loan allows you to fix the interest rate for a period of time, generally between one and five years.

Some home loans have fixed terms of up to 12 years. After the fixed term the loan usually reverts to the standard variable rate on offer at that time, or you may choose to refix the loan for another term.

You may consider a fixed rate loan if:

  • You are on a tight budget and need certainty of the repayment amount each month
  • You are an investor looking to achieve a fixed return on your investment
  • You believe interest rates may rise significantly in the future and can’t afford increased repayments 

If you decide to sell your home or refinance your loan whilst on a fixed rate term you may incur a penalty.

Check out our current special home loan offers or view our interest rates.

Download a fact sheet to learn more about fixed and variable interest rates

Fixed or Variable Interest Rate Loans
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