Reduce Home Loans logo

Reduce Home Loans Super Saver Variable

Advertiser disclosure

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

The details shown below are for an owner occupier taking out a principal & interest loan between $250,000 and $1,000,000 with an LVR below 80%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

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

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $250,000 $1,000,000

Rate
1.99% p.a.
Comparison Rate
2.05% p.a.
Service fee
$0.00
Upfront fee
$440
Rate
2.29% p.a.
Comparison Rate
2.29% p.a.
Service fee
$0.00
Upfront fee
$0

Mozo editorial review Reduce Home Loans Super Saver Variable

Last updated: 10 November 2020.

binocular icon
What's hot
  • 1.99% variable rate (2.05% comparison rate*)
  • No ongoing service fee
  • 0.15% loyalty discount after five years
What's not
  • Upfront fees
Mozo snapshot

With one of the lowest variable rates in the Mozo database at 1.99% (2.05% comparison rate*), the Super Saver Variable home loan from Reduce Home Loans is worth a look for owner occupiers. It also comes with a loyalty discount and a few useful features, but they’ll need to be weighed up against some hefty upfront fees. 

key icon
Key features

The Super Saver Variable home loan from Reduce Home Loans really lives up to its name by offering owner occupier borrowers one of the lowest variable interest rates around. 

Variable rates start at just 1.99% (2.05% comparison rate*) for owner occupiers making principal and interest repayments on loans between $250,000 and $850,000. That’s as long as they have an LVR of 80% or lower. 

Given the focus of this loan really is the low rate, you might not expect it to be chock-full of other features. However, while it doesn’t come with an offset account, borrowers will be able to make extra repayments towards their loan (for free) and to withdraw those extra repayments down the line through the redraw facility. 

The Super Saver Variable loan does come with a few upfront costs that borrowers need to be aware of though, including an application fee of $440. There are no ongoing service fees to worry about however.

snapshot
Who is it good for

The Super Saver Variable home loan could be an option to consider for buyers or refinancers looking to keep their home loan rate - and therefore repayments - to a minimum with one of the sharpest rates around.

question icon
Any catches

As mentioned above, borrowers will want to weigh up the upfront loan fees against the advantages of a super low variable rate.

Details

Rates and fees information correct as at 25 January 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
  • 1.99% p.a.

  • n/a

  • n/a

  • n/a

  • 2.05% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $440.00

  • n/a

  • n/a

  • $0.00

  • n/a

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $1,000,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • no

  • Legal and valuation fees charged 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 25 January 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
  • 2.29% p.a.

  • n/a

  • n/a

  • n/a

  • 2.29% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • n/a

  • n/a

  • $0.00

  • n/a

  • $0.00

  • $0.00

Other financial bits
  • $250,000

  • $1,000,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • yes - optional 100% offset - $395 p.a.

  • Legal and valuation fees charged at cost.

  • none

  • $1,000 cash back for loans less than $500,000. $2,000 cash back for loans greater than $500,000.

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 Reduce Home Loans home loans rated by the Mozo community?

Overall
8.0/10
Price
9.3/10
Features
7.3/10
Customer service
7.7/10
Convenience
8.5/10
Trust
6.9/10
Thumbnail icon for loans.com.au

loans.com.au

Smart Booster Home Loan

1.99% p.a.variable for 12 months and then 2.48% p.a. variable

2.47% p.a.

Thumbnail icon for UBank

UBank

UHomeLoan - Discount Offer

2.34% p.a. variable

2.34% p.a.

Thumbnail icon for Athena

Athena

AcceleRATES Variable Home Loan

2.19% p.a. variable

2.19% p.a.

Thumbnail icon for Macquarie

Macquarie

Basic Home Loan (Fixed)

2.19% p.a.
fixed 3 years

2.53% p.a.

Thumbnail icon for Suncorp

Suncorp

Fixed Home Loan (Home Package Plus)

1.99% p.a.
fixed 3 years

2.90% p.a.

Thumbnail icon for Bank of Queensland

Bank of Queensland

Fixed Rate

2.09% p.a.
fixed 3 years

3.01% p.a.

Thumbnail icon for People's Choice Credit Union

People's Choice Credit Union

Fixed Rate Home Loan (Package)

1.99% p.a.
fixed 3 years

3.64% p.a.

Thumbnail icon for 86 400

86 400

Neat Home Loan

2.19% p.a. variable

2.20% p.a.

Thumbnail icon for loans.com.au

loans.com.au

Smart Booster Home Loan

1.99% p.a.variable for 12 months and then 2.48% p.a. variable

2.47% p.a.

Thumbnail icon for UBank

UBank

UHomeLoan (Fixed)

1.75% p.a.
fixed 3 years

2.22% p.a.

Thumbnail icon for Athena

Athena

AcceleRATES Variable Home Loan

2.19% p.a. variable

2.19% p.a.

Thumbnail icon for Virgin Money

Virgin Money

Reward Me Fixed Rate Home Loan

2.04% p.a.
fixed 3 years

2.73% p.a.

Thumbnail icon for Macquarie

Macquarie

Basic Home Loan (Fixed)

2.19% p.a.
fixed 3 years

2.53% p.a.

Thumbnail icon for 86 400

86 400

Neat Home Loan

2.19% p.a. variable

2.20% p.a.

Thumbnail icon for Suncorp

Suncorp

Fixed Home Loan (Home Package Plus)

1.99% p.a.
fixed 3 years

2.90% p.a.

Thumbnail icon for Well Home Loans

Well Home Loans

Well Balanced

2.17% p.a. variable

2.20% p.a.

Thumbnail icon for loans.com.au

loans.com.au

Smart Booster Home Loan

1.99% p.a.variable for 12 months and then 2.48% p.a.

2.47% p.a.

Thumbnail icon for UBank

UBank

UHomeLoan - Discount Offer

2.34% p.a.

2.34% p.a.

Thumbnail icon for Athena

Athena

AcceleRATES Variable Home Loan

2.19% p.a.

2.19% p.a.

Thumbnail icon for Macquarie

Macquarie

Basic Home Loan

2.64% p.a.

2.64% p.a.

Thumbnail icon for Suncorp

Suncorp

Back to Basics

2.54% p.a.

2.55% p.a.

Thumbnail icon for Bank of Queensland

Bank of Queensland

Economy

2.59% p.a.

2.76% p.a.

Thumbnail icon for People's Choice Credit Union

People's Choice Credit Union

Basic Variable Home Loan

2.49% p.a.

2.49% p.a.

Thumbnail icon for 86 400

86 400

Neat Home Loan

2.19% p.a.

2.20% p.a.

Thumbnail icon for loans.com.au

loans.com.au

Fixed Home Loan

1.99% p.a.
fixed 3 years

2.70% p.a.

Thumbnail icon for UBank

UBank

UHomeLoan (Fixed)

1.75% p.a.
fixed 3 years

2.22% p.a.

Thumbnail icon for Macquarie

Macquarie

Basic Home Loan (Fixed)

2.19% p.a.
fixed 3 years

2.53% p.a.

Thumbnail icon for Suncorp

Suncorp

Fixed Home Loan (Home Package Plus)

2.19% p.a.
fixed 3 years

3.03% p.a.

Thumbnail icon for Bank of Queensland

Bank of Queensland

Fixed Rate

2.09% p.a.
fixed 3 years

3.01% p.a.

Thumbnail icon for People's Choice Credit Union

People's Choice Credit Union

Fixed Rate Home Loan (Package)

1.99% p.a.
fixed 3 years

3.64% p.a.

Thumbnail icon for Well Home Loans

Well Home Loans

Well Balanced Fixed

2.04% p.a.
fixed 3 years

2.17% p.a.

Thumbnail icon for UBank

UBank

UHomeLoan (1 Year Fixed)

n/a

n/a

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.