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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 70%
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 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 $150,000 and $1,500,000 with an LVR below 70%
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 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 $150,000 and $1,500,000 with an LVR below 70%
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%

Choose the version of this loan that suits you best

Availability Loan type LVR Min loan amount Max loan amount
Owner Occupier Principal & Interest < 70% $150,000 $1,500,000
Owner Occupier Principal & Interest 70%-80% $150,000 $1,500,000
Owner Occupier Principal & Interest 80%-95% $150,000 $1,500,000
Owner Occupier Principal & Interest 70%-80% $50,000 $1,500,000
Investor Principal & Interest < 70% $150,000 $1,500,000
Investor Principal & Interest 70%-80% $150,000 $1,500,000
Investor Principal & Interest 80%-90% $150,000 $1,500,000
Investor Principal & Interest < 90% $50,000 $1,500,000
Investor Interest Only 70%-80% $50,000 $1,500,000
Investor Interest Only < 70% $150,000 $1,500,000
Investor Interest Only 70%-80% $150,000 $1,500,000
  • Owner Occupier (Principal & Interest)
    LVR < 70%
    Loan: $150,000 $1,500,000
  • Owner Occupier (Principal & Interest)
    LVR 70%-80%
    Loan: $150,000 $1,500,000
  • Owner Occupier (Principal & Interest)
    LVR 80%-95%
    Loan: $150,000 $1,500,000
  • Owner Occupier (Principal & Interest)
    LVR 70%-80%
    Loan: $50,000 $1,500,000
  • Investor (Principal & Interest)
    LVR < 70%
    Loan: $150,000 $1,500,000
  • Investor (Principal & Interest)
    LVR 70%-80%
    Loan: $150,000 $1,500,000
  • Investor (Principal & Interest)
    LVR 80%-90%
    Loan: $150,000 $1,500,000
  • Investor (Principal & Interest)
    LVR < 90%
    Loan: $50,000 $1,500,000
  • Investor (Interest Only)
    LVR 70%-80%
    Loan: $50,000 $1,500,000
  • Investor (Interest Only)
    LVR < 70%
    Loan: $150,000 $1,500,000
  • Investor (Interest Only)
    LVR 70%-80%
    Loan: $150,000 $1,500,000
Rate
5.99% p.a.
Comparison Rate
6.00% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
6.09% p.a.
Comparison Rate
6.10% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
6.64% p.a.
Comparison Rate
6.64% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
7.93% p.a.
Comparison Rate
7.93% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
6.24% p.a.
Comparison Rate
6.25% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
6.34% p.a.
Comparison Rate
6.35% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
6.89% p.a.
Comparison Rate
6.89% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
8.83% p.a.
Comparison Rate
8.83% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
9.24% p.a.
Comparison Rate
8.75% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
6.54% p.a.
Comparison Rate
6.54% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
6.64% p.a.
Comparison Rate
6.47% p.a.
Service fee
$0.00
Upfront fee
$0

Mozo editorial review People's Choice Basic Variable Home Loan - last updated: 21 November 2023

binocular icon
What's hot
  • Variable rates from 5.99% p.a. (6.00% p.a. 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 5.99% p.a. (6.00% p.a. comparison rate*) for owner occupiers, it also offers 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. 

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.

Borrowers won’t need to pay any upfront fees, but there is a $395 annual fee for packaged home loans. You will also 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

Make sure you keep your eye on the fees that apply to this loan, a $395 annual fee and $350 discharge fee on refinancing or paying your loan off. The discounted rates are also for first time applicants only - first time home buyers who aren't currently customers of People's Choice, so make sure you're eligible.


Details

Rates and fees information correct as at 29 May 2024. 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

5.99% p.a.

n/a

n/a

n/a

6.00% 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

70.00%

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 29 May 2024. 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

6.09% p.a.

n/a

n/a

n/a

6.10% 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

70.00%

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 29 May 2024. 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

6.64% p.a.

n/a

n/a

n/a

6.64% 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 29 May 2024. 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

7.93% p.a.

n/a

n/a

n/a

7.93% 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

70.00%

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 29 May 2024. 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

6.24% p.a.

n/a

n/a

n/a

6.25% 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

70.00%

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 29 May 2024. 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

6.34% p.a.

n/a

n/a

n/a

6.35% 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

70.00%

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 29 May 2024. 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

6.89% p.a.

n/a

n/a

n/a

6.89% 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 29 May 2024. 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

8.83% p.a.

n/a

n/a

n/a

8.83% 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

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 29 May 2024. 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

9.24% p.a.

n/a

n/a

n/a

8.75% 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

70.00%

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 29 May 2024. 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

6.54% p.a.

n/a

n/a

n/a

6.54% 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

70.00%

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 29 May 2024. 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

6.64% p.a.

n/a

n/a

n/a

6.47% 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

70.00%

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.

Customer Reviews

How are People's Choice home loans rated by the Mozo community?

Overall
8.0/10
Price
7.3/10
Features
6.7/10
Customer service
8.1/10
Convenience
7.9/10
Trust
8.0/10
Based on 187 People's Choice home loan reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Latest reviews of People's Choice Basic Variable Home Loan

About People's Choice

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Unloan

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5.99% p.a. variable

5.90% p.a.

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Macquarie

Basic Home Loan (Fixed)

6.25% p.a.
fixed 3 years

6.20% p.a.

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Heritage Bank

Discount Variable Home Loan

5.99% p.a. variable

6.01% p.a.

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HSBC

Home Value Loan

6.09% p.a. variable

6.09% p.a.

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Unloan

Variable

6.29% p.a. variable

6.20% p.a.

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ANZ

Fixed Rate

6.59% p.a.
fixed 3 years

7.06% p.a.

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Macquarie

Basic Home Loan

6.14% p.a. variable

6.16% p.a.

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Mortgage Simplifier

6.14% p.a. variable

6.17% p.a.

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Variable

5.99% p.a. variable

5.90% p.a.

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Macquarie

Basic Home Loan

6.14% p.a. variable

6.16% p.a.

Thumbnail icon for Heritage Bank
Heritage Bank

Discount Variable Home Loan

5.99% p.a. variable

6.01% p.a.

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Unloan

Variable

6.29% p.a. variable

6.20% p.a.

Thumbnail icon for ubank
ubank

Flex Home Loan

6.24% p.a. variable

6.48% p.a.

Thumbnail icon for Aussie
Aussie

Elevate

6.09% p.a. variable

6.20% p.a.

Thumbnail icon for ING
ING

Fixed Rate Loan (with Orange Advantage)

5.99% p.a.
fixed 3 years

6.12% p.a.

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Macquarie

Offset Home Loan (Package)

6.14% p.a. variable

6.39% p.a.

Thumbnail icon for Unloan
Unloan

Variable

5.99% p.a.

5.90% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan

6.14% p.a.

6.16% p.a.

Thumbnail icon for Heritage Bank
Heritage Bank

Discount Variable Home Loan

5.99% p.a.

6.01% p.a.

Thumbnail icon for Aussie
Aussie

Elevate

6.09% p.a.

6.20% p.a.

Thumbnail icon for ING
ING

Mortgage Simplifier

6.14% p.a.

6.17% p.a.

Thumbnail icon for Macquarie
Macquarie

Offset Home Loan (Package)

6.14% p.a.

6.39% p.a.

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loans.com.au

Variable Home Loan 90

6.04% p.a.

6.06% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.04% p.a.
fixed 3 years

6.15% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan (Fixed)

6.25% p.a.
fixed 3 years

6.20% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

Thumbnail icon for ubank
ubank

Flex Home Loan Fixed

5.99% p.a.
fixed 3 years

6.41% p.a.

Thumbnail icon for ING
ING

Fixed Rate Loan (with Orange Advantage)

5.99% p.a.
fixed 3 years

6.12% p.a.

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Macquarie

Basic Home Loan (Fixed)

6.35% p.a.
fixed 3 years

6.26% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

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ANZ

Fixed Rate

6.59% p.a.
fixed 3 years

7.06% p.a.

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G&C Mutual Bank

First Home Buyer Loan

5.90% p.a.

5.93% p.a.

$0.00

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Community First Bank

Basic Variable Home Loan

5.94% p.a.

5.99% 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.

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