HSBC and Greater Bank cut home loan rates to new lows


23 Feb 2021

Hsbc cuts rates content

Anyone looking to refinance or take their first steps up the property ladder has a smorgasbord of options available to them nowadays, but two lenders are going out of their way to stand out from the pack. Greater Bank is wowing the market with a record breaking 1 year fixed rate of 1.69% (3.49% comparison rate*) while HSBC has making headlines with a new 2 year fixed rate of 1.88% (2.86% comparison rate*) plus generous cashback offer.

Currently the most generous cashback offer in the Mozo database, HSBC is offering $3,288 cashback to refinancers borrowing $250,000 or more. It's available to new borrowers who apply before 30 April 2021, with at least a 20% deposit. And to sweeten the deal, the usual $600 establishment fee is waived for successful applicants.

Of course, HSBC and Greater Bank aren't the only ones offering headline rates below the 2% mark, and there are some hot offers that home loan hunters would do well to have on their radar. Below we’ve compiled a few options to suit any type of borrower.


Greater Bank Discount Great Rate Home Loan
Greater Bank
  • 1.69% fixed rate for 1 year (rate (3.49% p.a. comparison rate*)

  • Borrow with just 10% deposit

  • Available to borrowers in NSW, QLD and ACT

This record smashing new 1 year fixed rate from Greater Bank proves there's never been a better time to secure peace of mind over your mortgage repayments. It's available to borrowers with just 10% deposit and its light on fees as well as rates. There are no ongoing fees to pay, and the upfront application fee is just $180. You'll have the option of making extra repayments during the fixed term for an additional fee, and redraw is available. It's available to borrowers with a loan amount of $150,000 or more in NSW, QLD and ACT.


HSBC Fixed Rate Home Loan
  • 1.88% fixed rate for 2 years (2.86% p.a. comparison rate*)

  • Free extra repayments up to $10,000 a year during fixed term

  • $3,288 cashback for refinancers - T&Cs apply

This super competitive 2 year fixed rate home loan gives you the security of monthly repayments while still taking advantage of great features like the ability to make free extra repayments up to $10,000 a year. You’ll be able to split your loan between fixed and variable rates, and as the cherry on the cake, there are zero application fees to pay. Available to borrowers with a 20% deposit or more. Plus, refinancers who apply before 30 April could receive a bonus $3,288 cashback (conditions apply).


86 400 Neat Home Loan
86 400
  • 2.19% variable rate (2.20% p.a. comparison rate*)

  • Free extra repayments and redraw facility

  • 40% deposit required

Looking to refinance to a cheaper home loan to save on interest and pay down your mortgage faster? This ultra competitive new variable rate from online lender 86 400 could be just what you're after. It boasts one of the lowest variable rates on the market, no ongoing fees, free extra repayments and redraw and an upfront fee of just $250. The simple online application process makes it easy to switch and you can make monthly, fortnightly or weekly repayments. Available to borrowers with 40% deposit.

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for the amount and term you entered.

**Initial monthly repayment figures are estimates only, based on the advertised rate, and a loan of $500,000 repaid over 25 years. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home loans Awards

Want to see how these home loans stack up against other options on the market? Be sure to visit our home loan comparison page.

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