Important: Information contained in this section relates to the Virgin Money Reward Me Home Loan and companion account only. 

Reward Me Variable Rate Home Loan

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

  • 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 60% 6.44%
    6.58%
    60.01% to 80% 6.44%
    6.58%
    80.01% to 90% 6.94% 7.08%
    Over 90% 8.87% 9.01%
    INTEREST ONLY
    Less than or equal to 60% 7.19% 6.92%
    60.01% to 80% 7.19% 6.92%

    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 60% 6.44%
    6.58%
    60.01% to 80% 6.44%
    6.58%
    80.01% to 90% 6.94% 7.08%
    Over 90% 8.87% 9.01%
    INTEREST ONLY
    Less than or equal to 60% 7.19% 6.92%
    60.01% to 80% 7.19% 6.92%

    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 60% 6.44%
    6.58%
    60.01% to 80% 6.44%
    6.58%
    80.01% to 90% 6.94% 7.08%
    Over 90% 8.87% 9.01%
    INTEREST ONLY
    Less than or equal to 60% 7.19% 6.92%
    60.01% to 80% 7.19% 6.92%
  • 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 60% 6.59% 6.73%
    60.01% to 80% 6.59% 6.73%
    80.01% to 90% 7.34% 7.48%
    INTEREST ONLY
    Less than or equal to 60% 6.79% 6.82%
    60.01% to 80% 6.79% 6.82%
    80.01% to 90% 7.34% 7.48%

    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 60% 6.59% 6.73%
    60.01% to 80% 6.59% 6.73%
    80.01% to 90% 7.34% 7.48%
    INTEREST ONLY
    Less than or equal to 60% 6.79% 6.82%
    60.01% to 80% 6.79% 6.82%
    80.01% to 90% 7.34% 7.48%

    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 60% 6.59% 6.73%
    60.01% to 80% 6.59% 6.73%
    80.01% to 90% 7.34% 7.48%
    INTEREST ONLY
    Less than or equal to 60% 6.79% 6.82%
    60.01% to 80% 6.79% 6.82%
    80.01% to 90% 7.34% 7.48%

Reward Me Fixed Rate Home Loan

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

  • 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.)*
    2 year Fixed

    7.79%

    6.74% special^ (for new applications with total new borrowings of $300,000 or more and 60.01%-80% LVR).

    6.69% special^ (for new applications with total new borrowings of $300,000 or more and up to 60% LVR).

    6.86%

    6.64%

    6.63%

    3 year Fixed

    7.92%

    6.54% special^ (for new applications with total new borrowings of $300,000 or more and 60.01%-80% LVR)

    6.49% special^ (for new applications with total new borrowings of $300,000 or more and up to 60% LVR)

    7.02%

    6.61%

    6.60%

    4 year Fixed

    7.83%

    6.74% special^ (for new applications with total new borrowings of $300,000 or more and 60.01%- 80% LVR)

    6.69% special^ (for new applications with total new borrowings of $300,000 or more and up to 60% LVR)

    7.11%

    6.70%

    6.68%

    5 year Fixed

    8.10% 

    6.79% special^ (for new applications with total new borrowings of $300,000 or more and 60.01%-80% LVR)

    6.74% special^ (for new applications with total new borrowings of $300,000 or more and up to 60% LVR)

    7.34%

    6.74%

    6.72%

    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.)*
    2 year Fixed 8.49% 8.92%
    3 year Fixed 8.62% 8.93%
    4 year Fixed 8.33% 8.79%
    5 year Fixed 8.60% 8.88%

    At the end of any fixed rate period, loans revert to the applicable Virgin Money Variable Rate plus a margin of 0.50%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.)*
    2 year Fixed 7.09% 6.71%
    3 year Fixed 6.79% 6.69%
    4 year Fixed 7.19% 6.86%
    5 year Fixed 7.39% 7.01%

    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.

  • 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.)*
    2 year Fixed

    7.66%

    6.89% special^ (for new applications with total new borrowings of $300,000 or more and 60.01%-80% LVR)

    6.79% special^ (for new applications with total new borrowings of $300,000 or more and up to 60% LVR).

    6.95%

    6.79%

    6.77%

    3 year Fixed

    7.67%

    6.69% special^ (for new applications with total new borrowings of $300,000 or more and 60.01%-80% LVR)

    6.59% special^ (for new applications with total new borrowings of $300,000 or more and up to 60% LVR)

    7.05%

    6.76%

    6.73%

    4 year Fixed

    7.73%

    6.89% special^ (for new applications with total new borrowings of $300,000 or more and 60.01%-80% LVR)

    6.79% special^ (for new applications with total new borrowings of $300,000 or more and up to 60% LVR)

    7.16%

    6.85%

    6.81%

    5 year Fixed

    7.95%

    6.94% special^ (for new applications with total new borrowings of $300,000 or more and 60.01%-80% LVR)

    6.84% special^ (for new applications with total new borrowings of $300,000 or more and up to 60% LVR)

    7.35%

    6.89%

    6.85%

     

    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.)*
    2 year Fixed

    8.01%

    7.14% special^ (for new applications with total new borrowings of $300,000 or more and 60.01%-80% LVR)

    7.04% special^ (for new applications with total new borrowings of $300,000 or more and up to 60% LVR).

    7.02%

    6.84%

    6.82%

     

    3 year Fixed

    7.92%

    6.89% special^ (for new applications with total new borrowings of $300,000 or more and 60.01%-80% LVR)

    6.79% special^ (for new applications with total new borrowings of $300,000 or more and up to 60% LVR)

    7.13%

    6.82%

    6.79%

    4 year Fixed

    7.93%

    7.09% special^ (for new applications with total new borrowings of $300,000 or more and 60.01%-80% LVR)

    6.99% special^ (for new applications with total new borrowings of $300,000 or more and up to 60% LVR)

    7.24%

    6.92%

    6.88%

     

    5 year Fixed

    8.15%

    7.14% special^ (for new applications with total new borrowings of $300,000 or more and 60.01%-80% LVR)

    7.04% special^ (for new applications with total new borrowings of $300,000 or more and up to 60% LVR)

    7.45%

    6.98%

    6.93%

    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.

Reward Me Home Loan Companion Account

Information contained in this section relates to the Virgin Money Reward Me Home Loan Companion Account. 

  • Account features

    You can use this account to make your loan repayments and any funds in this account will be used to offset interest costs against your nominated variable Reward Me Home Loan to help you save on interest. We will also use this account to manage the payment of fees and charges related to your home loan. As long as you have a positive balance in this account, we will not charge you any ongoing fees for maintaining it.

    Home Loan Companion Account

    Our Home Loan Companion Account is a simple account designed primarily for offsetting against your home loan balance but also to assist with settlement of your loan:

    • no ongoing fees
    • no minimum monthly balance
    • free funds transfer and BPAY
    • free Pay Anyone payments
    • free Direct Credits to the account
    • free Direct Debits
    • ability to offset interest costs against your nominated variable rate loan

    This account currently does not have card access – but we hope to make this feature available to you in the near future.

    If you need any further information, you can find it in our Terms and Conditions or call our Customer Care team on 13 81 51.

    Mortgage Offset

    One of the benefits of choosing our Reward Me Variable Rate Home Loan is that you can make every dollar count by offsetting funds against interest costs on your home loan. Every dollar that you keep in your Home Loan Companion Account reduces the amount of interest you'll have to pay on your linked home loan and will help you pay it off sooner. Now, that makes sense!

    Here's how it works

    • The daily interest on any positive balance in your Home Loan Companion Account will be calculated using the annual percentage rate applying to your loan that is linked to the Companion Account
    • The daily interest earned on any positive balance in your Home Loan Companion Account will then be offset against the daily interest charges on your loan that is linked to the Companion Account

    The benefit:

    • You will reduce the amount of interest you pay on your home loan and may also pay your loan off sooner.

    You don't need a minimum balance in your account however the more you have in your account the greater the amount that will be offset against your linked home loan.

    If you are in a fixed rate period, you won't be able to offset until the end of that fixed rate period when your loan reverts to a variable rate. However, you can still use our Home Loan Companion Account to make your home loan repayments and we will use the account to debit any fees and charges that apply across your loans.

    Fees and Charges

    There are no ongoing fees and charges as long as you maintain a positive balance on your Home Loan Companion Account. You can find all the fees that could be charged on the Home Loan Companion Account with the terms and conditions

    Interest Rates

    Interest is not charged on our Home Loan Companion Account. If using the account for interest offset, we will calculate interest on the balance in your offset account at same interest rate as your linked Reward Me Home Loan and then offset this amount against the interest we charge on that home loan.

    If your Home Loan Companion Account is overdrawn, an interest rate of 17.70% pa applies on the amount overdrawn. We will calculate interest daily and charge monthly on unauthorised drawings to the Home Loan Companion Account.

    Financial Claims Scheme (Government Guarantee)

    Under the Financial Claims Scheme (FCS) the Australian Government guarantees certain deposits up to $250 000 held with an authorised deposit-taking institution (ADI).  The Home Loan Companion Account is issued by Bank of Queensland Limited, and as such, qualifying deposits placed into that account are covered under the government guarantee provided to Bank of Queensland Limited (the ADI).

    The FCS limit applies to the sum of an account-holder’s deposits under the one banking license.

    To find out more information about the Financial Claims Scheme please click here.

Reward Me Home Loan fees and charges

Important: Rate and fee information contained in this section relates to the Virgin Money Reward Me Home Loan. 

  • Upfront fees
    Application Fee $300
    Payable for processing application of your loans. Charged at settlement.
    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. 
    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)
    $350 
    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.
  • 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.

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) 8.37% 8.51%
    Virgin Money Variable Rate (Interest Only)  8.57% 8.60%
  • Investment
      Interest Rate (p.a.) Comparison Rate (p.a.)*
    Virgin Money Variable Investment Rate (Principal and Interest)  8.59% 8.73%
    Virgin Money Variable Investment Rate (Interest Only) 8.79% 8.82%

Forms and important information

Here's where you'll find handy forms along with the Terms and Conditions that apply to our Reward Me Home Loan and Companion Account.

Important: Information contained on this page relates to the Virgin Money Reward Me Home Loan and Companion Account only. For assistance with any other loan please see our FAQs

Tools and Support

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Using your online account

It's easy to manage your RewardMe home loan accounts online with safe and secure 24/7 access.

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Virgin Money Blog

Your house is more than a home. Open the door to a world of ideas and insights.

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Financial support

Find out more if you are having financial difficulty or need some support on your home loan.

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