Standard Variable Rate - The traditional variable rate is the base rate of most lenders and may change at any time in line with the reserve bank. This loan usually offers the maximum flexibility and options offering anything from split loans of fixed and variable. You can also make extra repayments on the standard variable with the option of redrawing these extra funds at a time for any purpose. Repayments may be made weekly, fortnightly or monthly in line with your income periods. Many lenders offer a honeymoon rate as an incentive to take up this loan. The honeymoon rate is a short-lived discount period as the remaining period of the loan is then at the standard variable rate.