Aussie Select Basic Variable

This product is available in different versions. Pick the right version for you here.

The details shown below are for an owner occupier taking out a principal & interest loan between $100,000 and $499,999 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $100,000 and $5,000,000 with an LVR below 95%

The details shown below are for an owner occupier taking out a principal & interest loan between $100,000 and $5,000,000 with an LVR below 90%

The details shown below are for an owner occupier taking out a interest only loan between $100,000 and $5,000,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan between $100,000 and $5,000,000 with an LVR below 70%

The details shown below are for an investor taking out a principal & interest loan between $100,000 and $5,000,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan between $100,000 and $5,000,000 with an LVR below 90%

The details shown below are for an investor taking out a interest only loan between $100,000 and $5,000,000 with an LVR below 80%

The details shown below are for an investor taking out a interest only loan between $100,000 and $5,000,000 with an LVR below 90%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $100,000 $499,999

  • Owner Occupier (Principal & Interest)

    LVR 90%-95%

    Loan: $100,000 $5,000,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-90%

    Loan: $100,000 $5,000,000

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $100,000 $5,000,000

  • Investor (Principal & Interest)

    LVR < 70%

    Loan: $100,000 $5,000,000

  • Investor (Principal & Interest)

    LVR 70%-80%

    Loan: $100,000 $5,000,000

  • Investor (Principal & Interest)

    LVR 80%-90%

    Loan: $100,000 $5,000,000

  • Investor (Interest Only)

    LVR < 80%

    Loan: $100,000 $5,000,000

  • Investor (Interest Only)

    LVR 80%-90%

    Loan: $100,000 $5,000,000

2.80% p.a.

2.82% p.a.

$0.00

Aussie Select Basic Variable

2.80% p.a.

2.82% p.a.

$0.00

3.44% p.a.

3.47% p.a.

$0.00

Aussie Select Basic Variable

3.44% p.a.

3.47% p.a.

$0.00

3.14% p.a.

3.18% p.a.

$0.00

Aussie Select Basic Variable

3.14% p.a.

3.18% p.a.

$0.00

3.34% p.a.

3.37% p.a.

$0.00

Aussie Select Basic Variable

3.34% p.a.

3.37% p.a.

$0.00

3.14% p.a.

3.15% p.a.

$0.00

Aussie Select Basic Variable

3.14% p.a.

3.15% p.a.

$0.00

3.24% p.a.

3.27% p.a.

$0.00

Aussie Select Basic Variable

3.24% p.a.

3.27% p.a.

$0.00

3.44% p.a.

3.47% p.a.

$0.00

Aussie Select Basic Variable

3.44% p.a.

3.47% p.a.

$0.00

3.59% p.a.

3.62% p.a.

$0.00

Aussie Select Basic Variable

3.59% p.a.

3.62% p.a.

$0.00

3.84% p.a.

3.87% p.a.

$0.00

Aussie Select Basic Variable

3.84% p.a.

3.87% p.a.

$0.00

Mozo Review   Aussie Select Basic Variable Review

Last updated: 24 March 2020.

What's hot:
  • 2.80% interest rate (2.82% comparison rate*)

  • No ongoing service fees

  • Free extra repayments and redraw facility

  • Split account option

What's not:
  • $330 legal and $535 discharge fees

Mozo snapshot:

It may be in the name, but the Aussie Select Basic Variable home loan is far from basic. With competitive low rates starting from just 2.80% (2.82% comparison rate*), no ongoing service fees to worry about and handy features like a redraw facility and the ability to make free extra repayments, this is a home loan that could prove a great companion to any homeowner.  

You’ll even have the option of splitting the Select Basic Variable loan so a portion of it is a fixed rate!

Key features:

Aussie are well known for their mantra “we’ll save you”, and when it comes to the Select Basic Variable home loan that slogan really holds up. Both owner occupiers and investors will be able to borrow amounts between $100,000 and $5,000,000 with the loan, with interest rates for owner occupiers starting at 2.80% (2.82% comparison rate*) and 3.24% (3.25% comparison rate*) for investors.

Home buyers using the Select Basic Variable loan will also be able to borrow with a deposit as low as 5% (although this may require them to pay Lenders Mortgage Insurance), and they’ll even be able to split their loan up to four times if they’re wanting to fix a portion of it.

While the loan doesn’t come with an offset account, that doesn’t mean Aussies won’t be able to save because they will have access to the free extra repayments facility. Speaking of which, borrowers who do end up making extra repayments and need to dip back into them (for whatever reason) will be able to do so thanks to the free redraw facility. Just bear in mind that there’s a minimum redraw amount of $100.

The last thing you’re probably itching to know about is fees. Well the good news there is that Aussie doesn’t charge any application, settlement or ongoing service fees with the Select Basic Variable loan. However, borrowers will need to budget for a $330 legal fee, as well as the $535 discharge fee which will need to be paid once the loan is paid off in full.

Who it's good for:

The Aussie Select Basic Variable home loan is a budget-friendly option for first time buyers and investors alike, with the competitive rates and low number of fees you’d expect of a basic loan combined with handy extra features like the extra repayments facility and split loan option.

Any catches?

While the lack of any ongoing service fees will help borrowers keep their costs down over the life of the loan, the legal and discharge fees may prove unwelcome budget hits.

Details

Rates and fees information correct as at 4 April 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 2.80% p.a.

  • n/a

  • n/a

  • n/a

  • 2.82% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $330.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $535.00

Other financial bits
  • $100,000

  • $499,999

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $100.00

  • yes

  • no

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 4 April 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.44% p.a.

  • n/a

  • n/a

  • n/a

  • 3.47% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $330.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $535.00

Other financial bits
  • $100,000

  • $5,000,000

  • 90.00%

  • 95.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $100.00

  • yes

  • no

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 4 April 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.14% p.a.

  • n/a

  • n/a

  • n/a

  • 3.18% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $330.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $535.00

Other financial bits
  • $100,000

  • $5,000,000

  • 80.00%

  • 90.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $100.00

  • yes

  • no

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 4 April 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.34% p.a.

  • n/a

  • n/a

  • n/a

  • 3.37% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $330.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $535.00

Other financial bits
  • $100,000

  • $5,000,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Interest Only

  • Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $100.00

  • yes

  • no

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 4 April 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.14% p.a.

  • n/a

  • n/a

  • n/a

  • 3.15% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $330.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $535.00

Other financial bits
  • $100,000

  • $5,000,000

  • none

  • 70.00%

Features
  • Investor

  • Principal & Interest

  • Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $100.00

  • yes

  • no

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 4 April 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.24% p.a.

  • n/a

  • n/a

  • n/a

  • 3.27% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $330.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $535.00

Other financial bits
  • $100,000

  • $5,000,000

  • 70.00%

  • 80.00%

Features
  • Investor

  • Principal & Interest

  • Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $100.00

  • yes

  • no

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 4 April 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.44% p.a.

  • n/a

  • n/a

  • n/a

  • 3.47% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $330.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $535.00

Other financial bits
  • $100,000

  • $5,000,000

  • 80.00%

  • 90.00%

Features
  • Investor

  • Principal & Interest

  • Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $100.00

  • yes

  • no

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 4 April 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.59% p.a.

  • n/a

  • n/a

  • n/a

  • 3.62% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $330.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $535.00

Other financial bits
  • $100,000

  • $5,000,000

  • none

  • 80.00%

Features
  • Investor

  • Interest Only

  • Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $100.00

  • yes

  • no

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 4 April 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.84% p.a.

  • n/a

  • n/a

  • n/a

  • 3.87% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $330.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $535.00

Other financial bits
  • $100,000

  • $5,000,000

  • 80.00%

  • 90.00%

Features
  • Investor

  • Interest Only

  • Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $100.00

  • yes

  • no

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Customer Reviews

How are Aussie home loans rated by the Mozo community?

Overall customer rating
7.2/10
Price
7.3/10
Features
6.7/10
Customer service
7.2/10
Convenience
6.9/10
Trust
7.1/10

Latest reviews of Aussie Select Basic Variable

  • Overall 10/10
    Very professional.

    Aussie has been fabulous to deal with both pre and post buying a home. I highly recommend them!

    Read full review

    Aussie has been fabulous to deal with both pre and post buying a home. I highly recommend them!

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Natasha, Queensland reviewed 4 days ago
  • Overall 10/10
    Competitive premiums.

    Aussie, made it easy and efficient. They like to update website, maybe too often. Leave the website alone :) If it works, just leave it.

    Read full review

    Aussie, made it easy and efficient. They like to update website, maybe too often. Leave the website alone :) If it works, just leave it.

    Price
    10/10
    Features
    8/10
    Customer service
    10/10
    Convenience
    8/10
    Trust
    10/10
    Less
    Sonja, New South Wales reviewed about 2 months ago
  • Overall 10/10
    The only people I trust with my biggest investment

    I have been a customer of Aussie for many years and have had three loans with them and will continue to use them. My broker is genuine and trustworthy and I would not use anyone else for financing my biggest investment.

    Read full review

    I have been a customer of Aussie for many years and have had three loans with them and will continue to use them. My broker is genuine and trustworthy and I would not use anyone else for financing my biggest investment.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Cheryl, Queensland reviewed 4 months ago
  • Overall 8/10
    Overall, Aussie is number one in our eyes.

    We have had two loans with Aussie now and have found them to be quite a reputable institution. They are easy to communicate with and very understanding if a problem arises.

    Read full review

    We have had two loans with Aussie now and have found them to be quite a reputable institution. They are easy to communicate with and very understanding if a problem arises.

    Price
    7/10
    Features
    7/10
    Customer service
    8/10
    Convenience
    8/10
    Trust
    8/10
    Less
    Leanne, Tasmania reviewed 4 months ago
  • Overall 10/10
    Aussie. Don’t waste your time with anyone else.

    Paul Garnsworthy of Aussie Home Loans provides the best options for my circumstances and outstanding customer service. Paul has assisted me over many years with borrowing and refinancing through Aussie Home Loans. I continue to recommend him and still rate him 11/10.

    Read full review

    Paul Garnsworthy of Aussie Home Loans provides the best options for my circumstances and outstanding customer service. Paul has assisted me over many years with borrowing and refinancing through Aussie Home Loans. I continue to recommend him and still rate him 11/10.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    7/10
    Trust
    10/10
    Less
    Patricia, Victoria reviewed 5 months ago
Aussie

About Aussie

Aussie Home Loans has been giving the big banks a run for their money for over 20 years. "Aussie John" Symond founded Aussie Home Loans in 1992 to shake up the home loans market, attracting hundreds of thousands of customers around Australia. Aussie Home Loans has since expanded into a national mortgage broking service as well as Aussie-branded credit cards, car loans, personal loans and insurance to give consumers a banking alternative. Aussie's Low Rate credit cards continue to challenge the value consumers receive with new benefits that provide value where consumers need it most - low purchase rates and low fees.

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2.49% p.a.
fixed 3 years

2.94% p.a.

Promoted

UBank

UBank

UHomeLoan - Discount Offer

2.59% p.a.

2.59% p.a.

$0.00

Promoted

loans.com.au

loans.com.au

Smart Home Loan

2.63% p.a.

2.65% p.a.

$0.00

Promoted

HSBC

HSBC

Home Value Loan

2.65% p.a.

2.66% p.a.

$0.00

Promoted

ME

ME

Flexible Home Loan (Member Package)

2.79% p.a.

3.23% p.a.

$395.00 yearly

Promoted

ING

ING

Mortgage Simplifier

2.78% p.a.

2.81% p.a.

$0.00

Promoted

Gateway Bank

Gateway Bank

Low Rate Essentials Home Loan

2.76% p.a.

2.79% p.a.

$0.00

Promoted

CUA

CUA

Achieve Variable Home Loan

2.73% p.a.

2.78% p.a.

$0.00

Promoted

IMB Bank

IMB Bank

Budget Home Loan

2.78% p.a.

2.84% p.a.

$0.00

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.