Interest rates

  • Need info on the latest interest rates or news about the reserve bank decisions? At Mozo, we track hundreds of Australian financial institutions - from the big 4 banks to the smallest of online lenders and credit unions. We also keep a very keen eye on the reserve bank cash rate and how the banks, credit unions and building societies react to rate changes. If you need to find the best interest rates in Australia for home loans, term deposits or savings accounts, Mozo has got you covered.

  • Comparing apples with apples

    When you are researching your home loan or personal loan make sure you are comparing apples with apples. Look for the comparison rate information as this takes into the interest rate, account fees and charges into single rate to show you the true cost of a loan and help you pick the best one. Remember the lowest rate is not always the best interest rate - also important to think about features such as repayment options and any ongoing fee that will impact how much interest you pay.

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Reserve Bank interest rate decision

June 2014

No July rate change! The RBA Board leaves the official cash rate at 2.50%

The Reserve Bank of Australia Board has left the official cash rate at a steady 2.50%, for a record 11 consecutive months at the July meeting.


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June 2014

June RBA decision: Board leaves official cash rate at 2.50% (again!)

The Reserve Bank of Australia Board has left the official cash rate at a historic low 2.50% for the 10th consecutive month, at the RBA's June board meeting.


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May 2014

Ain't no changes: RBA Board leaves rates at 2.50% at May meeting

The stable Australian dollar and next week's looming 2014/15 federal budget has seen the Reserve Bank of Australia Board keep the official cash rate at a steady 2.50% for the ninth consecutive month. Governor Glenn Stevens said in a statement that monetary policy remains accommodative. "Interest rates are very low and savers continue to look for higher returns in response to low rates on safe instruments. Credit growth has picked up a little, while dwelling prices have increased significantly over the past year. "Find your home loan happinessThe booming Australian housing market is beginning to show signs of slowing - big news for first home buyers. With interest rates at record lows and banks eager to win over new customers, now is a good time to check out the best in the bustling Australian home loan market. This month, UBank tempts shopaholics with a special gift card offer of $1,961 for loans greater than $350,000 (as long as you apply before the end of May). Loan.com.au claims the title of lowest variable rate at 4.54% and the top fixed rate home loan for 1 year goes to IMB’s 3.99%. Compare interest rates at our home loan hub here, it's easy to navigate and you'll discover the standout home loans available on the market now. Get the best of both worlds! Consider splitting your home loan, you'll receive the benefit of the variable interest when rates fall and and the security of the fixed rate if rates rise. Keep in mind, often financial providers will provide better fixed rates for those that fix a larger percent of their home loan. For more advice, give our free home loan negotiator service a buzz by calling 13 MOZO (13 6696).Serious saving isn't impossible Ambitious savers forget long term deposit accounts (for now) as you'll struggle to receive a decent return on your savings. Instead check out some of the high interest savings accounts in the market that still offer competitive interest rates above the 4.00% mark. The ME Bank Online Savings Account has a dazzling 4.60% bonus interest rate for the first 5 months, provided it's linked to a ME everyday transaction account. UBank USaver with Ultra's eye-catching rate of 4.37% is yours as long as you deposit $2,000 a month into the account. ING Direct's 4.35% for the first 4 months and Bankwest TeleNet Saver's impressive 4.30% introductory rate for the first six months are also worth a look. Compare saving interest rates with our easy to use saving comparison tool here.


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  • Interest rates Australia wide

    Interest rates impact on every aspect of your finances, from your home loan through to any term deposits you may have. Whether you're looking to get a loan or create a new savings account, you need to know the current interest rate and compare what the various bank and credit unions are providing.

    Luckily at Mozo we know all about such things as Australian interest rates and how to make an interest rates comparison and are more than happy to share this know with you.

  • Information for borrowers

    If you're looking to get a house loan or borrow a large sum to set up your business, the current interest rate will affect how much money you'll need to repay. It's important to put some time into your research to see which bank or credit union can offer you the best interest rate for your needs. Mozo deals a range of advice and information on all types of loans. For each of these loan types, you can enter what you need from a loan and Mozo will present you what each bank can provide you, in an easy-to-understand chart. When you compare bank interest rates, you also need to consider the fees and restrictions of each loan, so these details are also in our informative charts to give you the big picture to securing the best interest rate for your loan.

    You also can look at variable and fixed term rates that the various credit providers are offering and decide which one is best for your needs.

  • Information for savers

    Whether you're saving for a particular purchase or just putting away money for a rainy day, you'll need to research the best bank interest rates for your savings account or term deposit. You can compare bank interest rates right here on the Mozo site for saving accounts and term deposits. When you're committing to a long term savings plan, you want to know you'll get the highest rate of return.

  • Keep yourself up-to-date

    Whether you're saving or borrowing, you want to be as up-to-date as possible. Mozo keeps a close eye on the Australian banks' interest rates and how they react to information from the RBA. We always provide up-to-date information so you can make decissions in today's market, not yesterday's.

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Interest rate articles

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