A rate lock is an extra option for a fixed-rate EconoME Home Loan and CompleteME Home Loan which lets you hedge against rates rising before your house purchase is settled.

When you take out a fixed-rate home loan, you normally get the interest rate that applies on the day your home loan is settled – which could be different to the rate on the day you first applied.

To guard against any unwanted rate rises, you can add a rate lock option to your home loan, which will come with a fee as below:

Then when it comes time to settle your home loan, you’ll get either the original interest rate at the time you applied, or the rate at settlement – whichever is lower.

Applying for a rate lock

If you are applying for an EconoME Home Loan or a CompleteME Home Loan, please speak with your Mobile Banker or broker instead.

Brokers applying for a rate lock

If you are a broker, please refer to the Broker Portal for information on submitting a rate lock request for an EconoME or CompleteME Home Loan.

Broker Portal