HomeHome LoansBankVicVariable Home Loan

BankVic Variable Home Loan

The BankVic Variable Home Loan offers variable rates from 5.85% p.a. (5.85% p.a. comparison rate*). Up to $3,000 cashback when you refinance to BankVic. Low deposit home loans.


Updated 26 April 2025


Fact checked and verified. Updated 26 April 2025
Already have a home loan?

See what your bank will offer you to stay

Get Started

* See details below

Interest Rates
Enter scenario to see relevant rates
I want to borrow
with a deposit of
for my
Principal & Interest(% p.a.)
Rate
Type
Interest
Rate
Comparison
Rate*

Variable

5.85%

5.85%

Expert Review

If you're looking for a fee free home loan with basic features, then the BankVic Variable Home Loan is worth considering. As one of BankVic's more basic home loan offerings, it features variable interest rates across the Owner Occupier category, and the ability to split your loan with BankVic's fixed rates. Further details about the BankVic Variable Home Loan benefits are outlined below.

Basic non-package loan for owner occupiers:
The key features under this relatively basic offering for owner occupier loans are focused on pricing. Specifically, pricing advertised includes a $0 monthly fee, and a low variable rate starting from 5.85% p.a. (5.85% p.a. comparison rate) on Principal and Interest repayments. Please keep in mind that despite this being a relatively basic no-frills product offering by BankVic, these rates should be able to be negotiated down, particularly for people borrowing a sizeable amount, or for those who hold a sizeable deposit or equity in a property already. This loan does require a minimum of either 10% deposit or 10% existing equity, and often anything above these amounts will help you negotiate a lower interest rate. There is the option to split the loan into Variable and Fixed rate components, plus being able to make extra repayments and in the future, redraw funds if desired. In terms of repayments Principal and Interest repayments are available.
Summary
Considering the basic features available with this product, this home loan will appeal to owner occupier borrowers. It will also appeal to someone where the lesser known BankVic brand and service isn’t a concern, or for those who are happy to bank with a lender that offers features most important to them, over who the lender is.

Product Details
A low variable rate to get into your dream home sooner"
- BankVic
Fees

•

$0 establishment fee

•

$0 annual fee

Other fees may apply.

Feature

•

No ongoing fees

•

Split your loan into fixed and variable rate portions

•

Make extra repayments

•

Redraw extra repayments that you have made

TMD

Before applying for this product, you should read the Target Market Determination (TMD) available here on the BankVic website.

More information
* Comparison rate is based on a secured loan of $150,000 over a 25 year term. 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.
Terms of Use | Privacy Policy
Copyright © 2025 Stay or Go Pty Ltd
Stay or Go Pty Ltd (“Stay or Go”) provides information about and compares credit products in the Australian market and is authorised to do so as the holder of Australian Credit Licence 527092. We do not compare every credit product in the Australian market. We are not a credit provider and we do not provide credit assistance. When we provide information via this website, we are not providing you with a recommendation or suggestion about a particular credit product. When you apply for a credit product via our website, you are not applying with us, you are applying directly with the credit provider and will be redirected to their website. We endeavour to ensure that the information on this website is current and accurate however, before entering into any credit product with a credit provider displayed on our website, you should confirm the fees, rates, product information, and eligibility criteria with the credit provider and read the Target Market Determination (TMD) available via their website. All information on this website is general advice only and does not take into account your objectives, financial situation or needs. You should consider whether this advice is right for you and we encourage you to seek independent financial advice. The use of any trade name or trademark on this website is for identification, comparison and reference purposes only and does not imply any association with the trademark holder or their brand. Please refer to our Terms of Use for more details.