St.George Bank Home Loans

St.George Bank Home Loans

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Everything you need to know about a St.George Home Loan

Originally founded in 1937 in the suburbs of Sydney, today St.George Bank has become a highly competitive retail bank with excellent products, especially for first-time homebuyers and young families. They also offer benefits to various groups, such as discounts for some professionals and affordable SMSF loans. Although owned by Westpac – this big four bank acquired St.George in 2008 – the lender continues to offer forward-thinking products for borrowers, staying true to its specialist lender roots, while also being able to provide the low rates you’d expect from a major bank.

Key Benefits

  • Competitive rates and discounts
  • Variety of home loan products including low doc
  • Low deposit loans are accepted


  • LMI can be costly
  • Difficult to qualify with bad credit
  • Slower application processing times

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St.George Home Loan Products Breakdown

Standard Variable Rate Home Loan

  • Flexibility
  • Offset account
  • Redraw

A smart option for paying off your mortgage faster

If you want to focus on paying down your mortgage faster, this Standard Variable Rate loan product may be a smart option. You’ll get to use a full interest offset facility to help pay down your loan faster. Also, if you bundle your loan with the Advantage Package, the bank sometimes offers great interest rate discounts. You can also split your loan with St.George’s Flexible Choice features, paying off part of your mortgage with a fixed rate.

Fixed Rate Home Loan

  • Fixed rate interest term
  • Lock in a fixed rate
  • Interest in advance

Enjoy the comfort of knowing exactly what your monthly repayments will be

You can choose a fixed rate from one to five years and then refix your loan at the end of the period or switch to the standard variable rate. St.George Bank also offers a rate lock feature so you can secure your fixed rate up to three months before your loan settles. You can also make extra repayments without penalty and then redraw those additional funds if you need to. The Fixed Rate loan product also comes with an optional offset facility.

Basic Home Loan

  • Flexibility
  • Offset account
  • Redraw

An easy, low rate home loan with all the basics you need

For a straightforward home loan that is easy on your finances, St.George offers a low variable rate loan with low fees in their Basic Home Loan. You can still take advantage of flexible repayments, free additional repayments and redraw. This is an ideal option for first-time homebuyers who want an affordable loan. You can use equity built up in a family member’s home to possibly eliminate your need for lender’s mortgage insurance and can save even more with the First Home Owner Grant.

Portfolio Loan

  • Fixed rate interest term
  • Discount interest & fees
  • Flexible repayments

Invest in your future today with this ongoing line of credit

This is St.George’s line of credit home loan. You’ll have an ongoing line of credit at your low mortgage interest rate which you can use to make investments when you see fit. This is a great option if you want the ability to do more with your loan to help you achieve your future financial goals. Fees on this loan, however, are relatively high, although you can reduce them by bundling with the Advantage Package.

Building Home Loan

  • Fund new homes
  • Funds grow
  • Schedule payments

Build or renovate your dream home with a great rate loan

This specialist loan can be used for new builds. St.George makes the construction process even easier by helping to identify your building expenses to make payment for each stage of the build more streamlined. You are only responsible for interest on the portion of the loan you have drawn down.

Advantage Package

  • Discount on rates
  • All-in-one package
  • $0 monthly fees

Save when you package a home loan, credit card and transaction account

You can bundle your home loan with a credit card and transaction account for all-in-one simplicity and savings. Enjoy flexible repayment options and waived fees. St.George does sometimes offer exceptional rate discounts on their home loan package, making this option even more affordable. The discounts are higher for larger loans.

Relocation Loan

  • Live in existing home
  • Package and save
  • Full interest offset

Remove the stress of timing the purchase or construction of your new home

If you’re buying or building a new home, St.George’s relocation loan may be able to help you with your expenses. The loan is available as a standalone relocation loan or you can combine the relocation loan with a new loan. As well as this, you won’t have to make repayments until you sell your home, so you’ll have more time to save up before you start paying off your loan.


St.George Bank Home Loan Products Comparison


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Frequently Asked Questions

How long does St.George mortgage approval take?

Once you have provided St.George with your documentation, they will usually take around 24-48 hours to approve your loan.

What is the current interest rate for St.George Bank?

As of May 2020, the interest rate for fixed St.George loans is 2.24% p.a.

Does St.George pass rate cuts?

When the RBA made their emergency rate cut in March 2020, St.George cut their interest rate by 0.65% p.a.

How much can I borrow on a St.George Home Loan?

Your borrowing power will be dependent on a range of factors such as your credit history, the value of your property and your income. As well as this, the interest rate, term and type of loan will also come into consideration. You can calculate your borrowing power here.

How can I refinance a St.George Home Loan?

You can apply to refinance your St.George Home Loan here. If you need assistance, you can also contact a home lending specialist at St.George online or via telephone. As part of your application, you will be required to provide documentation such as existing home loan statements and your ID. A valuation will be varied out as well. After this, the approval and settlement stages will follow.

How much does a St.George Home Loan earn?

Currently, the interest rate for St.George home loans is relatively low. For 1, 2 and 3 year fixed rate loans, the interest rate sits at 2.24% p.a. You can compare St.George’s interest rates to other lenders.

How much to discharge a St.George Bank Home Loan?

If you wish to carry out a full discharge of your loan, you will need to provide a signed and fully completed discharge authority form. Alternatively, you can provide written instructions from a solicitor or conveyancer. St.George will then carry out the settlement process and instruct you on any further steps that must be taken.

How to access my St.George Home Loan account?

You can access your St.George Home Loan account via their internet banking facility. Find out more.

How to access redraw from a St.George Home Loan?

To access redraw from your St.George account, you must meet a minimum requirement for your home loan. You then must make a redraw request. Once this has been completed, you can access your redraw through St.George’s Internet or mobile banking facilities. Alternatively, you can complete a Home Loan Redraw form that can be handed to a St.George branch or emailed to St.George.

How can I add my Husband to my St.George Home Loan?

To add a spouse to your home loan, you will have to specify that you are married on your loan application and add them as a second applicant or trustee. If you have an existing loan, it is likely that you will have to refinance in order to add your husband to your home loan.