2.1. Standard variable rate loan

An ANZ Bank floating rate home loan offers flexibility to make lump sum loan repayments at any time. The loan can be repaid in full without notice and without penalty.

How a floating interest rate loan works

The cost of borrowing will fluctuate with changes in the interest rate market.  The loan is flexible and can usually be repaid in full without notice and without penalty.

See here for more information.

A floating interest rate loan is best suited to

• Customers who want to repay their loan faster and keep tighter control over their finances.
  
• Customers who often have extra money they’d like to put towards their home loan.
• Customers who want the flexibility to be able to take a loan repayment holiday or redraw funds.
  

Features and benefits of ANZ's variable rate loan

• Maximum term: 30 years.
• Repayment frequency: weekly, fortnightly or monthly.
• Extra repayments: you can make additional loan payments anytime without penalty.
  

• Loan repayment holidays.
• ANZ Flexidraw is available.
  
• Loan top ups may be available.
  
• Interest-only repayments up to 10 years may be permitted.

Next: Flexidraw Previous: Variable interest rate loans