HSBC joins the below 3% club on its fixed home loan rates

By Polly Fleeting · · 2 min read
Fact Checked
Advertiser disclosure

Forget fixed rate home loans with rates above 3%, the new competitive rate you should know about starts with the number 2.  

Last week, HSBC announced that it’ll be cutting its 3-year fixed home loan to an impressive 2.75% (3.45% comparison rate*). 

This hot offer is available on the HSBC Premier Fixed Rate Home Loan, for new customers looking to borrow above $50,000. 

HSBC’s new and improved 3-year fixed interest rate is only available for owner-occupiers making principal and interest repayments, aligning it with the existing 1-year and 2-year fixed rates, which both sit at 2.75% as well. 

“Locking in an interest rate can help first home buyers and existing borrowers stay on top of their finances, providing certainty over cashflow,” HSBC Australia’s Head of Retail Banking and Wealth Management, Jessica Power said. 

Just remember, you can only seal the deal on this competitive rate if you apply before the end of the year - the 31st of December 2019 to be exact! 

Where else can I find a fixed home loan rates under 3%?

It’s no secret that since the multiple RBA cuts this year lenders have been quick to make adjustments to many of their fixed rate home loans. 

Among some of the lenders who are now sitting pretty under the 3% mark after making cuts this month are online lenders like Tic:toc with a 2.84% (2.92% comparison rate*) 3 year fixed rate, ME Bank with a 2.88% (3.96% comparison rate*) 2 year fixed rate and UBank with the lowest 3 year fixed rate in the Mozo database at 2.69% (3.19 comparison rate*). 

With many Aussie lenders opting to dump the big four in search of a better home loan deal, it might be time you got picky about your rate.

RELATED ARTICLE: October RBA cut final straw for big four customers, finds latest Mozo research 

So if you’re not ready to sign the dotted line just yet, shop around using our home loan comparison tool or check out other fixed rate home loans offering killer deals below. 

Last updated 18 March 2025 Important disclosures and comparison rate warning*
What are your home loan needs?
Loan purpose
Buying or Refinancing

  • Switch & Save One Year Fixed Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • Offset available
    • Redraw available
    Interest rate
    5.54 % p.a.
    Fixed 1 year
    Comparison rate
    5.74 % p.a.
    Initial monthly repayment
    $2,852
    Go to site
    • No penalty for early payout
    • No penalty for making additional payments
    • 100% Savings Offset facility

  • Basic Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 30% min deposit
    • Redraw available
    Interest rate
    5.55 % p.a.
    Fixed 2 years
    Comparison rate
    5.85 % p.a.
    Initial monthly repayment
    $2,855
    Go to site
    • No ongoing fees
    • Free redraw from your loan using Macquarie Online.
    • No application or account management fees

  • Fixed Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    • Redraw available
    • Cashback
    Interest rate
    5.69 % p.a.
    Fixed 2 years
    Comparison rate
    6.00 % p.a.
    Initial monthly repayment
    $2,899
    Go to site
    • Get up to $4,000 cashback (T&Cs apply)
    • Up to 12 months repayments in advance without penalties
    • Split loan available

  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    Interest rate
    5.74 % p.a.
    Fixed 2 years
    Comparison rate
    5.96 % p.a.
    Initial monthly repayment
    $2,915
    Go to site
    • No ongoing annual fees
    • Make up to $25,000 extra repayments during a fixed period, fee free (T&Cs apply)
    • Lock in for up to 5 years.

  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • Interest only
    • 20% min deposit
    Interest rate
    5.74 % p.a.
    Fixed 2 years
    Comparison rate
    6.01 % p.a.
    Initial monthly repayment
    $2,915
    Go to site
    • Free extra repayments of up to $25,000 during the fixed rate period.
    • Split loan available
    • Weekly, fortnightly, or monthly repayment options
Showing 5 results from 417 home loans. Use the filters to see more

* 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 $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. 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.

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