Revert rate
The revert rate is the variable rate a loan moves to when its fixed term or introductory period ends, set by the lender and often higher than the rates it offers new customers.
Revert rate, explained.
Lenders disclose the revert rate in the fixed rate letter and the loan documents. It is usually a standard variable rate with a modest discount, and borrowers who do nothing at the end of a fixed term pay it.
The three responses are to ask the lender to reprice, to refix at the current fixed rate, or to refinance. Each can be quoted in the last two to three months of the term.
Tools that use this term.
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The Learn section is general information about lending in Australia. It does not take account of your objectives, financial situation or needs, is not credit assistance, and is not tax, legal or financial advice. Lender policies, government schedules and regulations change; check the current position with the relevant body or with us before relying on it.
