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

By Polly Fleeting · · 2 min read
Fact Checked
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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 13 August 2022

Search promoted home loans below or do a full Mozo database search . Advertiser disclosure
  • Featured Product
    Own Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR <60%

    interest rate
    comparison rate
    Initial monthly repayment
    5.19% p.a.
    fixed 1 year
    4.27% p.a.

    Competitive Fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.

    Go to site
    Details
  • Basic Home Loan

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

    interest rate
    comparison rate
    Initial monthly repayment
    4.49% p.a.
    fixed 1 year
    3.81% 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.

    Go to site
    Details
  • Fixed Rate Home Loan

    Home Loan Package, Owner Occupier, Principal & Interest, LVR <80%

    interest rate
    comparison rate
    Initial monthly repayment
    5.57% p.a.
    fixed 1 year
    4.03% p.a.

    Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Min 20% deposit. Receive $3,288 cashback when you refinance an existing home loan of $250,000. Must apply by 31 August 2022 and settle by 31 October 2022.

    Go to site
    Details
  • Basic Home Loan

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

    interest rate
    comparison rate
    Initial monthly repayment
    4.55% p.a.
    fixed 1 year
    3.91% p.a.

    Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.

    Go to site
    Details
  • Mozo Expert Choice Badge
    Fixed Rate Home Loan

    Owner Occupier, Principal & Interest, LVR<80%

    interest rate
    comparison rate
    Initial monthly repayment
    4.99% p.a.
    fixed 1 year
    3.63% p.a.

    Competitive fixed rates across 1 to 5 year terms. No application fee or annual fee. Free extra repayments (up to $10,000 per year). Winner of Australia's Best Large Mutual Bank 2022.

    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, loan amount and term entered. 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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