A standard variable rate loan is a loan product that generally allows you to choose many “bells and whistles”. e.g. a redraw facility, an all-in-one account facility, linked accounts and credit cards etc. 

 A line of credit is a type of loan that allows borrowers to withdraw funds up to a specified credit limit. Unlike traditional loans, a line of credit can be accessed multiple times and interest is only charged on the amount borrowed. This makes it a flexible financing option for businesses and individuals who need to manage cash flow or have ongoing expenses. However, it's important to note that missed payments or exceeding the credit limit can result in penalties or damage to credit score. Overall, a line of credit can be a useful tool for managing finances, as long as it's used responsibly.    

A basic home loan offers a low but variable interest rate and few or no regular fees. However, there is also limited flexibility. e.g. you may not be able to pay off extra if you get a windfall, or vary your repayments.

A fixed rate home loan is a type of mortgage in which the interest rate remains the same for the entire term of the loan. This means that the borrower's monthly mortgage payments will also remain the same, providing certainty and predictability in budgeting and financial planning. However, you may be limited in making lump sum payments or paying out the loan during the fixed rate period. Fixed rate home loans are generally preferred by borrowers who prioritize stability and want to avoid the risk of interest rate fluctuations.