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People's Choice Basic Variable Home Loan

Advertiser disclosure

The details shown below are for an owner occupier taking out a principal & interest loan between $150,000 and $1,500,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $150,000 and $1,500,000 with an LVR below 95%

The details shown below are for an owner occupier taking out a interest only loan between $150,000 and $1,500,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a interest only loan between $150,000 and $1,500,000 with an LVR below 95%

The details shown below are for an investor taking out a principal & interest loan between $150,000 and $1,500,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan between $150,000 and $1,500,000 with an LVR below 90%

The details shown below are for an investor taking out a interest only loan between $150,000 and $1,500,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $1,500,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $1,500,000 with an LVR below 95%

The details shown below are for an owner occupier taking out a interest only loan between $50,000 and $1,500,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a interest only loan between $50,000 and $1,500,000 with an LVR below 95%

The details shown below are for an investor taking out a principal & interest loan between $50,000 and $1,500,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan between $50,000 and $1,500,000 with an LVR below 90%

The details shown below are for an investor taking out a interest only loan between $50,000 and $1,500,000 with an LVR below 80%

The details shown below are for an investor taking out a interest only loan between $50,000 and $1,500,000 with an LVR below 90%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $150,000 $1,500,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-95%

    Loan: $150,000 $1,500,000

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $150,000 $1,500,000

  • Owner Occupier (Interest Only)

    LVR 80%-95%

    Loan: $150,000 $1,500,000

  • Investor (Principal & Interest)

    LVR < 80%

    Loan: $150,000 $1,500,000

  • Investor (Principal & Interest)

    LVR 80%-90%

    Loan: $150,000 $1,500,000

  • Investor (Interest Only)

    LVR < 80%

    Loan: $150,000 $1,500,000

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $50,000 $1,500,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-95%

    Loan: $50,000 $1,500,000

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $50,000 $1,500,000

  • Owner Occupier (Interest Only)

    LVR 80%-95%

    Loan: $50,000 $1,500,000

  • Investor (Principal & Interest)

    LVR < 80%

    Loan: $50,000 $1,500,000

  • Investor (Principal & Interest)

    LVR 80%-90%

    Loan: $50,000 $1,500,000

  • Investor (Interest Only)

    LVR < 80%

    Loan: $50,000 $1,500,000

  • Investor (Interest Only)

    LVR 80%-90%

    Loan: $50,000 $1,500,000

Rate
2.49% p.a.
Comparison Rate
2.49% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
2.64% p.a.
Comparison Rate
2.65% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
3.19% p.a.
Comparison Rate
3.20% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
3.34% p.a.
Comparison Rate
3.35% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
2.79% p.a.
Comparison Rate
2.80% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
2.94% p.a.
Comparison Rate
2.95% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
2.99% p.a.
Comparison Rate
3.00% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
3.68% p.a.
Comparison Rate
3.69% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
3.93% p.a.
Comparison Rate
3.94% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
4.23% p.a.
Comparison Rate
4.24% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
4.48% p.a.
Comparison Rate
4.49% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
4.33% p.a.
Comparison Rate
4.34% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
4.58% p.a.
Comparison Rate
4.59% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
4.69% p.a.
Comparison Rate
4.70% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
4.99% p.a.
Comparison Rate
5.00% p.a.
Service fee
$0.00
Upfront fee
$0

Mozo editorial review People's Choice Basic Variable Home Loan - last updated: 17 June 2021

binocular icon
What's hot
  • Variable rates from 2.49% (2.49% comparison rate*)
  • Redraw facility and extra repayments available
  • No upfront or ongoing fees
What's not
  • No offset account
Mozo snapshot

The Basic Variable Home Loan from People's Choice has everything you'd want in a no frills home loan. Not only does it offer competitive variables rates starting from 2.49% (2.49% comparison rate*) for owner occupiers, it also comes with no upfront or ongoing fees, plus there are handy features like fee-free extra repayments and a redraw facility (minimum $1,000 redraw) to make use of. 

key icon
Key features

The Basic Variable Home Loan caters to both owner occupiers and investors, with interest rates varying depending on: the type of repayments you want to make (principal and interest or interest-only), your loan-to-value ratio (up to 95% LVR options available) and the amount you want to borrow. The lowest variable rates currently on offer are: 

  • 2.49% (2.49% comparison rate*): Available to owner occupiers making principal and interest repayments on loans between $150,000 and $1,500,000, with an LVR below 80%
  • 2.69% (2.70% comparison rate*): Available to investors making principal and interest repayments on loans between $150,000 and $1,500,000, with an LVR below 80%

When it comes to features, borrowers will be able to make free extra repayments towards their loan balance and they'll also be able to dip into those additional payments via the free redraw facility (though there is a $1,000 minimum amount per redraw). There’s also more flexibility to be found in the loan repayment frequency, as there are weekly, fortnightly or monthly options available - meaning you can factor your mortgage repayments into your pay cycle. 

There is also a split loan option which allows you to secure a fixed interest rate for a portion of your loan, while also maximising the benefits of the variable portion.

The other major benefit of the loan is the lack of fees. Borrowers won’t need to pay any upfront fees, or any ongoing fee over the life of this loan. However, you will encounter a $350 discharge fee once you finish paying off the loan, or should you choose to refinance with another lender.

snapshot
Who is it good for

The People's Choice Basic Variable Home Loan could suit first home buyers, refinancers or even investors looking for a low cost loan with some flexible features - all alongside the personalised management of a credit union.

question icon
Any catches

The competitive 2.49% variable rate (2.49% comparison rate*) is a special rate only available to new customers, so if you’re already a customer of People's Choice you won’t be able to access this offer.  


Details

Rates and fees information correct as at 17 September 2021. 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

2.49% p.a.

n/a

n/a

n/a

2.49% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$150,000

$1,500,000

none

80.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$1,000.00

yes

no

Special rates only available for new customers.

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 17 September 2021. 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

2.64% p.a.

n/a

n/a

n/a

2.65% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$150,000

$1,500,000

80.00%

95.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$1,000.00

yes

no

Special rates only available for new customers.

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 17 September 2021. 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

3.19% p.a.

n/a

n/a

n/a

3.20% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$150,000

$1,500,000

none

80.00%

Features

Owner Occupier

Interest Only

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$1,000.00

yes

no

Special rates only available for new customers.

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 17 September 2021. 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

3.35% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$150,000

$1,500,000

80.00%

95.00%

Features

Owner Occupier

Interest Only

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$1,000.00

yes

no

Special rates only available for new customers.

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 17 September 2021. 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

2.79% p.a.

n/a

n/a

n/a

2.80% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$150,000

$1,500,000

none

80.00%

Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$1,000.00

yes

no

Special rates only available for new customers.

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 17 September 2021. 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

2.94% p.a.

n/a

n/a

n/a

2.95% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$150,000

$1,500,000

80.00%

90.00%

Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$1,000.00

yes

no

Special rates only available for new customers.

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 17 September 2021. 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

2.99% p.a.

n/a

n/a

n/a

3.00% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$150,000

$1,500,000

none

80.00%

Features

Investor

Interest Only

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$1,000.00

yes

no

Special rates only available for new customers.

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 17 September 2021. 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

3.68% p.a.

n/a

n/a

n/a

3.69% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$50,000

$1,500,000

none

80.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$1,000.00

yes

no

Valuation fee payable at cost.

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 17 September 2021. 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

3.93% p.a.

n/a

n/a

n/a

3.94% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$50,000

$1,500,000

80.00%

95.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$1,000.00

yes

no

Valuation fee payable at cost.

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 17 September 2021. 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

4.23% p.a.

n/a

n/a

n/a

4.24% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$50,000

$1,500,000

none

80.00%

Features

Owner Occupier

Interest Only

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$1,000.00

yes

no

Valuation fee payable at cost.

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 17 September 2021. 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

4.48% p.a.

n/a

n/a

n/a

4.49% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$50,000

$1,500,000

80.00%

95.00%

Features

Owner Occupier

Interest Only

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$1,000.00

yes

no

Valuation fee payable at cost.

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 17 September 2021. 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

4.33% p.a.

n/a

n/a

n/a

4.34% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$50,000

$1,500,000

none

80.00%

Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$1,000.00

yes

no

Valuation fee payable at cost.

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 17 September 2021. 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

4.58% p.a.

n/a

n/a

n/a

4.59% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$50,000

$1,500,000

80.00%

90.00%

Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$1,000.00

yes

no

Valuation fee payable at cost.

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 17 September 2021. 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

4.69% p.a.

n/a

n/a

n/a

4.70% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$50,000

$1,500,000

none

80.00%

Features

Investor

Interest Only

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$1,000.00

yes

no

Valuation fee payable at cost.

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 17 September 2021. 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

4.99% p.a.

n/a

n/a

n/a

5.00% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$0.00

$350.00

Other financial bits

$50,000

$1,500,000

80.00%

90.00%

Features

Investor

Interest Only

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$1,000.00

yes

no

Valuation fee payable at cost.

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.

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Latest reviews of People's Choice Basic Variable Home Loan

About People's Choice

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.