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

Polly Fleeting

29 Oct 2019

Hsbc fixed rate content

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

Rates updated daily. Advertiser disclosure.

  • UBank

    1.85% p.a.
    fixed 3 years

    2.24% p.a.

    $1234

    Product details Close details
    UHomeLoan

    Owner Occupier, Principal & Interest

    1.85% p.a.
    fixed 3 years

    2.24% p.a.

    $0 fees and easy application. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.

    UHomeLoan

    $0 fees and easy application. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.

    • 1.85% p.a.
      fixed 3 years

    • 2.24% p.a.

    • $0

    • $0.00

    • $0.00

    • yes - free up to $20,000 during fixed rate term

    • no

    • no

    • $0

    • 80.00%

    • $100,000

    • $2,000,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $395 Establishment fee waived for fixed rate loans that settle by 30 September 2021.

    Read our Mozo Review to learn more about the UHomeLoan

    Details Close

  • Macquarie

    2.09% p.a.
    fixed 3 years

    2.32% p.a.

    $1234

    Product details Close details
    Basic Home Loan

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

    2.09% p.a.
    fixed 3 years

    2.32% 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.

    Basic Home Loan

    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.

    • 2.09% p.a.
      fixed 3 years

    • 2.32% p.a.

    • $0

    • $0.00

    • $400.00

    • yes - free

    • yes - free

    • no

    • $0

    • 70.00%

    • $150,000

    • $750,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Monthly

    Read our Mozo Review to learn more about the Basic Home Loan

    Details Close

  • Virgin Money

    1.98% p.a.
    fixed 2 years

    2.66% p.a.

    $1234

    Product details Close details
    Special Offer Reward Me Fixed Rate Home Loan

    Owner Occupier, LVR <80%, 300k+

    1.98% p.a.
    fixed 2 years

    2.66% p.a.

    Enjoy $3,000 cashback when you refinance with Virgin Money (T&Cs apply). Additional repayments up to $10,000 per annum. Reverts to the discounted variable rate on expiry of the fixed term.

    Special Offer Reward Me Fixed Rate Home Loan

    Enjoy $3,000 cashback when you refinance with Virgin Money (T&Cs apply). Additional repayments up to $10,000 per annum. Reverts to the discounted variable rate on expiry of the fixed term.

    • 1.98% p.a.
      fixed 2 years

    • 2.66% p.a.

    • $450

    • $10.00 monthly

    • $350.00

    • yes - up to $10,000 per annum

    • no

    • no

    • $450

    • 80.00%

    • $300,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $3,000 cashback for new borrowings of at least $300,000, applications by 29 August 2021, settled by 26 November 2021.

    Read our Mozo Review to learn more about the Special Offer Reward Me Fixed Rate Home Loan

    Details Close

  • Hot Deal Receive $2,000 cashback when refinancing to 86 400 (T&Cs apply)

    86 400

    1.84% p.a.
    fixed 1 year

    2.63% p.a.

    $1234

    Product details Close details
    Own Home Loan

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

    1.84% p.a.
    fixed 1 year

    2.63% 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.

    Own Home Loan

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

    • 1.84% p.a.
      fixed 1 year

    • 2.63% p.a.

    • $250

    • $250.00 yearly

    • $0.00

    • yes - free up to $20,000 per fixed rate term

    • yes - free

    • yes

    • $250

    • 60.00%

    • -

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $2,000 cashback for eligible home loans of at least $250,000 with applications received by 30 September 2021 and settled before 31 November 2021.

    Read our Mozo Review to learn more about the Own Home Loan

    Details Close

  • Newcastle Permanent

    1.89% p.a.
    fixed 2 years

    3.67% p.a.

    $1234

    Product details Close details
    Special Fixed Rate Home Loan Premium Plus Package

    Owner Occupier, Principal & Interest

    1.89% p.a.
    fixed 2 years

    3.67% p.a.

    Lock in a low fixed rate or choose to split your loan between fixed and variable. Insurance discounts and no fee credit card or zero fee personal loan available. $2,000 cashback offer for home loans over $250k with at least a 20% deposit when refinancing to Newcastle Permanent. Enjoy local branches and call centre.

    Special Fixed Rate Home Loan Premium Plus Package

    Lock in a low fixed rate or choose to split your loan between fixed and variable. Insurance discounts and no fee credit card or zero fee personal loan available. $2,000 cashback offer for home loans over $250k with at least a 20% deposit when refinancing to Newcastle Permanent. Enjoy local branches and call centre.

    • 1.89% p.a.
      fixed 2 years

    • 3.67% p.a.

    • $0

    • $395.00 yearly

    • $0.00

    • yes - free up to $25,000 p.a.

    • yes - free

    • no

    • $0

    • 80.00%

    • $5,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $2,000 cashback when you refinance your home loan from another financial institution when you apply by 30 September 2021 and are funded by 30 November 2021, min $250k, LVR <80%

    Read our Mozo Review to learn more about the Special Fixed Rate Home Loan

    Details Close

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