St.George Bank
Basic Promo
Investment Variable Principal & Interest 0 Years 70% LVR
6.54%
Interest rate
6.55%
Comparison rate
Rates as at 16 Jun 2026
Ratings
★ ★ ★ ★ ★ (1 reviews)
About Basic Promo
Key Features
- While it does not have the convenient that comes with an offset account, but $Basic Promo comes with a redraw facility. A redraw facility works similar to an offset account. If you put the same amount into home loan as extra repayments, your interest bill will reduce by the same amount, but still have access those extra funds if you need them later.
Interest only loans have traditionally been tailored to investors so they can reduce their mortgage repayments and maximise their tax benefits and overall return on investment (ROI). However, getting home loan with interest only (IO) has its place and some lenders are willing to consider your application if you can provide valid reasons.
LVR is an acronym for Loan-To-Value Ratio. The LVR is the amount you are borrowing against the property value being used as security, represented as a percentage.
Fees & Costs
- Generally speaking, variable home loans without offset accounts are often called basic or 'no-frills' loans, you get lower account-keeping fees and lower interest rate for your home loan. In some cases a basic home loan can actually be cost efficient than a 100% offset account.
- St.George Bank charge a discharge fee of $350, which covers the cost for removing the mortgage that has been registered on the title of your property.
- There is upfront costs of $600 to apply for Basic Promo, with no ongoing account keeping fees.
Borrowing Limits
- An LVR of 90% is a high risk, whereas an LVR of 80% or less is considered safe by most lenders. The majority of lenders will require you to pay Lenders Mortgage Insurance (LMI) if you borrow over 80% LVR.
- An LVR of 95% is a high risk, whereas an LVR of 80% or less is considered safe by most lenders. The majority of lenders will require you to pay Lenders Mortgage Insurance (LMI) if you borrow over 80% LVR.
- Interest only option for St.George Bank Basic Promo is not available at 95% LVR. St.George Bank will only consider interest only if your home loan is 90% or less of the property value.
Eligibility
- Interest only repayment option is not available with St.George Bank Basic Promo for buying next home.
- Interest only repayment option is not available with St.George Bank Basic Promo for refinance.
💡 Tip: To get approved for an interest only home loan you need to have a strong enough income to afford principal and interest (P&I) repayments once your interest only term expires. Sometimes extending your interest only period can be tough and getting approved for a P&I refinance is a lot easier.
IMPORTANT:Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with St.George Bank or a mortgage broker just to be sure. This information should be used as a guide only.
Other rate options for Basic Promo
Refinance
Variable · Principal & Interest
0 Years · 70% LVR
6.29%
Refinance
Variable · Principal & Interest
0 Years · 80% LVR
6.39%
Refinance
Variable · Principal & Interest
0 Years · 95% LVR
6.69%
Investment
Variable · Interest Only
0 Years · 70% LVR
6.89%
Investment
Variable · Interest Only
0 Years · 80% LVR
6.99%
Investment
Variable · Interest Only
0 Years · 90% LVR
7.29%
Investment
Variable · Principal & Interest
0 Years · 70% LVR
6.54%
Investment
Variable · Principal & Interest
0 Years · 80% LVR
6.64%
Investment
Variable · Principal & Interest
0 Years · 95% LVR
6.94%
Owner Occupied
Variable · Principal & Interest
0 Years · 70% LVR
6.29%
Owner Occupied
Variable · Principal & Interest
0 Years · 80% LVR
6.39%
Owner Occupied
Variable · Principal & Interest
0 Years · 95% LVR
6.69%
Frequently Asked Questions
Are there costs when I exit or refinance to another lender?
St.George Bank charge a discharge fee of $350, which covers the cost for removing the mortgage that has been registered on the title of your property.
Does St.George Bank Basic Promo comes with an offset account?
No, Basic Promo does not come with an offset account. Generally speaking, variable home loans without offset accounts are often called basic or 'no-frills' loans, you get lower account-keeping fees and lower interest rate for your home loan. In some cases a basic home loan can actually be cost efficient than a 100% offset account.
Does St.George Bank Basic Promo comes with an offset account?
No, Basic Promo does not come with an offset account. While it does not have the convenient that comes with an offset account, but $Basic Promo comes with a redraw facility. A redraw facility works similar to an offset account. If you put the same amount into home loan as extra repayments, your interest bill will reduce by the same amount, but still have access those extra funds if you need them later.
What are the costs to apply for St.George Bank Basic Promo?
There is upfront costs of $600 to apply for Basic Promo, with no ongoing account keeping fees. Application fee: $500
Settlement fee: $100
What are the costs to apply for St.George Bank Basic Promo?
There is upfront costs of $600 to apply for Basic Promo. Application fee: $500
Settlement fee: $100 Basic Promo also comes with ongoing account fees of $96 per year. Monthly fee: $8 per month
Fees
- Application fee
Important Information
Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with St.George Bank or a mortgage broker just to be sure. This information should be used as a guide only.