With the interest rate set at the beginning of the fixed term, you can be certain of how much your loan will cost you over that period. For new lending, fixed rates can be held for up to 60 days once your loan is contracted.
Floating / Variable
Interest rate changes follow market rates. You’ll have the flexibility to increase your repayments, put in a lump sum or pay off the loan early. You can accelerate principal to pay off your loan quicker, with reduced interest costs, or make the most of improved financial circumstances.
The best of both worlds – part-floating, part fixed – and you decide how much of each. You have certainty of a fixed rate as well as the flexibility of a variable rate.