People First Bank
Basic Variable Home Loan
People First Bank · residential mortgages
Provider last updated this product 2026-06-08.
Our Basic Variable Home & Investment Loans offers our lowest rate with no upfront or no ongoing monthly fee which enables you to make unlimited extra repayments to pay off your loan quicker.
As published by the lender
- Headline rates - from 1.69% to 8.18%The lender publishes several headline rates; which one applies is the lender's decision.
Lending rates
| Type | Rate | Comparison^ | Purpose | Repayment | Fixed term | Applies to | Interest |
|---|---|---|---|---|---|---|---|
| VARIABLE | 8.18% | 8.18% | OWNER OCCUPIED | PRINCIPAL AND INTEREST | - | $20,000 - $2,000,000, LVR up to 95% | calculated daily, paid monthly |
| Minimum $20,000 balance. | |||||||
| DISCOUNT | 2.19% | 6.00% | OWNER OCCUPIED | PRINCIPAL AND INTEREST | - | $20,000 - $2,000,000, LVR up to 70% | calculated daily, paid monthly |
| LVR <=70%. Minimum $20,000 balance. | |||||||
| DISCOUNT | 2.09% | 6.10% | OWNER OCCUPIED | PRINCIPAL AND INTEREST | - | $20,000 - $2,000,000, LVR 70% - 80% | calculated daily, paid monthly |
| LVR 70.01% -80.00%. Minimum $20,000 balance. | |||||||
| DISCOUNT | 1.69% | 6.49% | OWNER OCCUPIED | PRINCIPAL AND INTEREST | - | $20,000 - $2,000,000, LVR 80% - 95% | calculated daily, paid monthly |
| LVR >80%. Minimum $20,000 balance. | |||||||
Fees
| Fee | Type | Amount | Details |
|---|---|---|---|
| Land Title Office Fees | OTHER | - | Any fee payable at-cost on the date of settlement that are charged by the various states Land Title Offices regarding but not limited to registration of mortgage, transfer of title, property and title searches. |
| Solicitor's/Conveyancer Fee | OTHER | - | This fee is payable at-cost on the date of settlement and covers activities such as reviewing the contract of sale, conducting property searches, liaising with your financial institution, and preparing for settlement to ensure a smooth transaction. |
| Security Handling Fee | EVENT | $150 | Charged per occurrence. Payable in the following circumstances; deed of priority, title production, variation of priority, consent or name change. |
| Portability Fee | EVENT | $300 | Charged per occasion when you wish to change the security(ies) against an existing loan(s) and there is no change to the existing loan(s) amount, loan interest rate or type, term of the loan(s), product type, borrowers or mortgagors. Discharge fees may also apply. |
| Discharge of Mortgage | EVENT | $350 | For the preparation of a discharge of mortgage. |
| Documentation Fee | EVENT | $200 | Payable in the following circumstances: preparation of an additional mortgage; preparation of a guarantee; or where documents have been cancelled or redone, at your request, after contracts have been issued. |
| Valuation Fee | OTHER | - | Valuation Fee at cost and payable by member. |
| Bank Cheque Fee | OTHER | - | Bank Cheque Fee at cost to People's Choice per cheque |
| Lenders Mortgage Insurance (LMI) | OTHER | - | Payable when Loan to Value Ratio (LVR) is above 80% |
| Arrears Administration Fee 1 | EVENT | $25 | Payable if you fail to make repayments due under your credit contract and you do not pay an amount sufficient to clear all repayment arrears within 7 days of us notifying you that your account is in arrears. |
| Arrears Administration Fee 2 | EVENT | $25 | Payable if you fail to make repayments due under your credit contract and your account remains in arrears for a period of 20 days or more. |
| Enforcement of Mortgage fee | EVENT | $70 | Charged whenever an enforcement notice is issued in relation to a credit contract that is secured by a mortgage over real property. |
Rate history
Rate Comparison rate
The figures behind this chart
| From | Until | Rate | Comparison |
|---|---|---|---|
| 2026-07-15 | 2026-09-30 (current) | 1.69% | 6.00% |
Published figures as captured daily since 2026-07-15. A step is the day the provider's published figure changed; days without a published figure carry the last published value.
Features
- Construction Loan Option available on Basic Variable.
- Flexible repayment frequency - pay weekly, fortnightly or monthly.
- The ability to have a split loan (partial fixed and partial variable)
Who can apply
- natural person - Personal Members Only
- residency status - Permanent residents of Australia who reside in Australia at the time of membership application are eligible for membership, regardless of citizenship status.
- min age - 1818 years and over
- otherTerms, conditions, fees, charges and lending criteria apply and are available on application
Limits
- min limit - 20000.00Minimum loan size is $20,000.00
The provider's own documents
Published by the provider under the Consumer Data Right. These are their documents, not ours - they are the authority on this product.
Last updated by data holder: 2026-06-08T14:35:25.837Z · Product ID: 406acd2d-821f-41fa-b658-f4011722355b