This type of loan is best described as a 'No Frills' product. The interest rate tends to be lower than the standard variable rate. That is great for the consumer but also means that the loan product will be the equivalent of an economy car with limited options. The interest rate will fluctuate with the market. Usually missing from these products are: Offset capabilities Checkbook or ATM Inability to access account via Eftpos No salary crediting Should you have any further questions please click here to email us.