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

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. 

Compare fixed rate home loans - last updated 20 April 2024

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  • Mozo Expert Choice Badge
    Fixed Express Home Loan

    Owner Occupier, Principal & Interest

    interest rate
    comparison rate
    Initial monthly repayment
    5.99% p.a.
    fixed 2 years
    6.14% p.a.

    Lock in a low 2 year fixed rate with the Mozo award winning Home Lender of the Year. Available for live-in borrowers with just a 10% deposit required. Free extra repayments (up to 20% in fixed period), free redraw and partial offset available. $10 monthly service fee.

    Compare
    Details
  • Basic Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR<70%

    interest rate
    comparison rate
    Initial monthly repayment
    5.99% p.a.
    fixed 3 years
    6.13% p.a.

    No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.

    Compare
    Details
  • Mozo Expert Choice Badge
    Fixed Express Home Loan

    Owner Occupier, Interest Only

    interest rate
    comparison rate
    Initial monthly repayment
    6.49% p.a.
    fixed 2 years
    6.39% p.a.

    Compare
    Details
  • Flex Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR 70-80%

    interest rate
    comparison rate
    Initial monthly repayment
    5.99% p.a.
    fixed 3 years
    6.41% p.a.

    Competitive fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 20% deposit required.

    Compare
    Details
  • Fixed Rate Loan with Orange Advantage

    Orange Advantage, Owner Occupiers, Principal & Interest, LVR <80%

    interest rate
    comparison rate
    Initial monthly repayment
    6.09% p.a.
    fixed 2 years
    6.16% p.a.

    Know exactly what your repayments will be, and you can fix your rate for up to 5 years. No monthly, annual fee or transaction fees. Free additional repayments (less than $10,000 p.a.). Valid for loans of $50,000 up to $2,000,000.

    Compare
    Details

* 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.

^See information about the Mozo Experts Choice Home Loan Awards

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