Interest Rates

Important: Information contained in this section relates to the Virgin Money Reward Me Home Loan only. At Virgin Money we offer interest rates based on loan amount & loan-to-value ratio.

Reward Me Variable Rate Home Loan

Our Reward Me Variable Rate Home Loan offers competitive interest rates and extra flexibility with the ability to redraw and make unlimited additional repayments.

Current rates for new loan applications submitted on or after 11 January 2019.

  • Owner Occupied

    Total borrowings less than $500,000

    Interest rates shown are for total borrowings less than $500,000 on an owner occupied loan with the Reward Me Variable Rate Home Loan.

    Loan to Value Ratio (LVR) Interest Rate p.a. Comparison Rate# p.a.
    PRINCIPAL & INTEREST
    Less than or equal to 80% 3.78% 3.92%
    80.01% to 90% 4.09% 4.23%
    Over 90% 5.04% 5.17%
    INTEREST ONLY
    Less than or equal to 80% 4.39% 4.38%

    Total borrowings between $500,000 and $750,000

    Interest rates shown are for total borrowings between $500,000 and less than $750,000 on an owner occupied loan with the Reward Me Variable Rate Home Loan.

    Loan to Value Ratio (LVR) Interest Rate p.a. Comparison Rate# p.a.
    PRINCIPAL & INTEREST
    Less than or equal to 80% 3.73% 3.87%
    80.01% to 90% 4.04% 4.18%
    Over 90% 5.04% 5.17%
    INTEREST ONLY
    Less than or equal to 80% 4.34% 4.33%

    Total borrowings over $750,000

    Interest rates shown are for total borrowings over $750,000 on an owner occupied loan with the Reward Me Variable Rate Home Loan.

    Loan to Value Ratio (LVR) Interest Rate p.a. Comparison Rate# p.a.
    PRINCIPAL & INTEREST
    Less than or equal to 80% 3.69% 3.83%
    80.01% to 90% 3.99% 4.13%
    Over 90% 5.04% 5.17%
    INTEREST ONLY
    Less than or equal to 80% 4.29% 4.28%

  • Investment

    Total borrowings less than $500,000

    Interest rates shown are for total borrowings less than $500,000 on an investment loan with the Reward Me Variable Rate Home Loan.

    Loan to Value Ratio (LVR) Interest Rate p.a. Comparison Rate# p.a.
    PRINCIPAL & INTEREST
    Less than or equal to 80% 4.09% 4.23%
    80.01% to 90% 4.19% 4.33%
    INTEREST ONLY
    Less than or equal to 80% 4.29% 4.28%
    80.01% to 90% 4.59% 4.58%

    Total borrowings between $500,000 and $750,000

    Interest rates shown are for total borrowings between $500,000 and less than $750,000 on an investment loan with the Reward Me Variable Rate Home Loan.

    Loan to Value Ratio (LVR) Interest Rate p.a. Comparison Rate# p.a.
    PRINCIPAL & INTEREST
    Less than or equal to 80% 3.99% 4.13%
    80.01% to 90% 4.19% 4.33%
    INTEREST ONLY
    Less than or equal to 80% 4.24% 4.23%
    80.01% to 90% 4.54% 4.53%

    Total borrowings over $750,000

    Interest rates shown are for total borrowings over $750,000 on an investment loan with the Reward Me Variable Rate Home Loan.

    Loan to Value Ratio (LVR) Interest Rate p.a. Comparison Rate# p.a.
    PRINCIPAL & INTEREST
    Less than or equal to 80% 3.94% 4.08%
    80.01% to 90% 4.09% 4.23%
    INTEREST ONLY
    Less than or equal to 80% 4.24% 4.23%
    80.01% to 90% 4.49% 4.48%


Reward Me Fixed Rate Home Loan

Our Reward Me Fixed Rate Home Loan offers competitive interest rates that you can lock in for repayment certainty.

Current rates as at 31 May 2019.

  • Owner Occupied

    Principal and Interest (up to 90% LVR)

    Interest rates shown are for a Principal and Interest (up to 90% LVR) owner occupied loan with the Reward Me Fixed Rate Home Loan.

    Term Rate (p.a.) Comparison Rate# (p.a.)
    1 year Fixed 4.24% 3.96%
    2 year Fixed

    3.99%

    3.44% special (for new borrowings of $300,000 or more and application received on or after 31 May 2019)

    3.96%

    3.86%

    3 year Fixed

    3.99%

    3.39% special (for new borrowings of $300,000 or more and application received on or after 31 May 2019)

    3.97%

    3.82%

    4 year Fixed

    4.34%

    3.99% special (for new borrowings of $300,000 or more and application received on or after 31 May 2019)

    4.11%

    3.99%

    5 year Fixed

    4.49%

    4.09% special (for new borrowings of $300,000 or more and application received on or after 31 May 2019)

    4.21%

    4.04%

    At the end of any fixed rate period, loans revert to the current Virgin Money Variable Rate minus a discount based on the overall amount borrowed and the loan to value ratio (LVR) at loan approval.

    Principal and Interest (over 90% LVR)

    Interest rates shown are for a Principal and Interest (over 90% LVR) owner occupied loan with the Reward Me Fixed Rate Home Loan.

    Term Rate (p.a.) Comparison Rate# (p.a.)
    1 year Fixed 4.44% 5.11%
    2 year Fixed 4.39% 5.05%
    3 year Fixed 4.39% 5.00%
    4 year Fixed 4.54% 5.00%
    5 year Fixed 4.69% 5.02%

    At the end of any fixed rate period, loans revert to the applicable Virgin Money Variable Rate plus a margin of 0.20%p.a.

    Interest Only

    Interest rates shown are for a interest only owner occupied loan with the Reward Me Fixed Rate Home Loan.

    Term Rate (p.a.) Comparison Rate# (p.a.)
    1 year Fixed 4.39% 4.30%
    2 year Fixed

    4.19%

    3.94% special (for new borrowings of $300,000 or more and application received on or after 31 May 2019)

    4.29%

    4.24%

    3 year Fixed

    4.39%

    3.89% special (for new borrowings of $300,000 or more and application received on or after 31 May 2019)

    4.34%

    4.21%

    4 year Fixed 4.39% 4.36%
    5 year Fixed 4.49% 4.42%

    At the end of any fixed rate period, loans revert to the applicable Virgin Money Variable Rate minus a discount based on the overall amount borrowed and the loan to value ratio (LVR) at loan approval.

  • Investment

    Principal and Interest (maximum LVR 90%)

    Interest rates shown are for a Principal and Interest investment loan with the Reward Me Fixed Rate Home Loan.

    Term Rate (p.a.) Comparison Rate# (p.a.)
    1 year Fixed 4.34% 4.25%
    2 year Fixed

    4.05%

    3.74% special (for new borrowings of $300,000 or more and application received on or after 31 May 2019)

    4.22%

    4.16%

    3 year Fixed

    4.14%

    3.69% special (for new borrowings of $300,000 or more and application received on or after 31 May 2019)

    4.24%

    4.12%

    4 year Fixed 4.09% 4.23%
    5 year Fixed 4.19% 4.27%

    At the end of any fixed rate period, loans revert to our current Virgin Money Variable Investment Rate minus a discount based on the overall amount borrowed and the loan to value ratio (LVR) at loan approval.

    Interest only (maximum LVR 90%)

    Interest rates shown are for a interest only (maximum LVR 90%) investment loan with the Reward Me Fixed Rate Home Loan.

    Term Rate (p.a.) Comparison Rate# (p.a.)
    1 year Fixed 4.39% 4.21%
    2 year Fixed

    4.09%

    3.74% special (for new borrowings of $300,000 or more and application received on or after 31 May 2019)

    4.19%

    4.12%

    3 year Fixed

    4.19%

    3.69% special (for new borrowings of $300,000 or more and application received on or after 31 May 2019)

    4.22%

    4.09%

    4 year Fixed 4.19% 4.23%
    5 year Fixed 4.29% 4.28%

    At the end of any fixed rate period, loans revert to the applicable Virgin Money Variable Investment Rate minus a discount based on the overall amount borrowed and the loan to value ratio (LVR) at loan approval.


Standard Variable Rate Home Loan

Below are our standard variable rates for owner occupied and investment loans. All our variable rates are based on these rates and this is the rate quoted in your loan contract with any discount or margin then being applied to the standard variable rate.

  • Owner Occupied
      Interest Rate (p.a.) Comparison Rate#(p.a.)
    Virgin Money Variable Rate (Principal and Interest) 4.84% 4.97%
    Virgin Money Variable Rate (Interest Only)  5.09% 5.08%
  • Investment
      Interest Rate (p.a.) Comparison Rate#(p.a.)
    Virgin Money Variable Investment Rate (Principal and Interest)  5.14% 5.27%
    Virgin Money Variable Investment Rate (Interest Only) 5.39% 5.38%

Virgin Money Home Loan Managed by Macquarie Bank

Important: Information contained in this section relates to Virgin Money Home Loans that are managed by Macquarie Bank only and were issued prior to April 2016. These loans are no longer for sale and the information is for existing customers of those loans only.

Current rates – effective 13 April 2017.

  • Variable Rate Home Loans
    Virgin Home Loan Variable Rate Interest Rate (p.a.) Comparison Rate^^ (p.a.)
    OWNER OCCUPIER
    Virgin Home Loan Variable 4.69% 4.69%
    Virgin Home Loan Multi Variable 4.89% 4.89%
    Virgin Line of Credit Variable 4.79% N/A
    Virgin Home Loan Variable (Low Doc) 2 5.47% 5.47%
    RESIDENTIAL INVESTMENT
    Virgin Home Loan Investment Rate 5.26% 5.26%
    Virgin Home Loan Multi Investment Rate 5.36% 5.36%
    Virgin Home Loan Investment Variable (Low Doc) 2 5.99% 5.99%
  • Fixed Rate Home Loans
    Virgin Home Loan Fixed Rate Interest Rate (p.a.) Comparison Rate^^ (p.a.)
    OWNER OCCUPIER
    Virgin Home Loan 1 yr Fixed Rate 4.39% 4.66%
    Virgin Home Loan 3 yr Fixed Rate 4.24% 4.57%
    Virgin Home Loan 5 yr Fixed Rate 4.89% 4.77%
    RESIDENTIAL INVESTMENT
    Virgin Home Loan 1 yr Investment Fixed Rate 5.41% 5.27%
    Virgin Home Loan 3 yr Investment Fixed Rate 5.46% 5.31%
    Virgin Home Loan 5 yr Investment Fixed Rate 5.81% 5.49%

    Low Doc Fixed Rates available on request.


Fees and Charges

Important: Rate and fee information contained in this section relates to the Virgin Money Reward Me Home Loan. Customers who have a Virgin Money Home Loan managed by Macquarie Bank issued prior to April 2016 please call our Customer Care team on 1300 948 000 for information.

Reward Me Home Loan fees and charges

Below is an outline of the key fees and charges applicable to your loan.

  • Upfront fees
    Settlement Fee $150 
    Payable for completing settlement of your loans
    Additional Security Fee $150 
    Payable when more than one security is required
    Rate Lock Fee 0.15% of the fixed loan amount
    Payable if you elect to lock in your interest rate on a fixed rate loan. We will hold the interest rate for 100 days from the date we process your request. If your loan settles after 100 days, and the fixed rate has increased, the rate that is current on the day of settlement will apply.
    Valuation Fee First Valuation – Free 
    Any further valuation will be charged for. The amount of the fee, will be the fee charged by the appointed Valuer and will vary depending on the location and value of the property.
    Document Variation Fee $200 
    Payable if a new set of loan documents needs to be issued due to a change in your requirements.
  • Post-settlement Fees
    Home Loan Fee $10 
    Charged to each loan account on every repayment date (monthly)
    Rate Lock Fee 0.15% of fixed rate loan amount 
    Payable if you request to lock in a specific fixed rate prior to the end of your current fixed rate period.
    Break Cost Admin Fee $50 
    Payable when we break your fixed rate contract. This fee is payable regardless of whether a break cost is incurred or not.
    Switching Fee $300 
    Charged for loans converted to another type of loan.
    Substitution of Security Fee $300 
    Payable if we agree to substitute one security for another security.
    Consent Fee $300 
    Payable wherever we give consent (following a request from you) to a change in security.
    Security Release Fee 
    (full or partial)
    $320 
    Payable when we agree (at your request) to discharge a security.
    Production Fee $150 
    Payable if a certificate of title or any security is required to be produced to another financial institution.
    Top up Fee $150
    Payable when you apply to top up your loan (6 months or more after settlement) and we agree to increase your existing loan.
    Construction Fee $250 – Contract Builder
    Allows up to 4 drawings (each additional drawing after this will attract a fee of $100 per drawing).

For the full list of fees and charges applicable to your loan, Home Loan Companion account and Hub access, please go to our Lending and Deposits Guide to Fees and Charges.