Leading customer-owned lenders are smashing the big banks on cost post RBA cut

By Jasmine Gearie · · 1 min read
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Home loan interest rates are starting to settle following the Reserve Bank’s August rate cut, and top customer-owned lenders are smashing the big banks with leading rates.

Some highlights include Greater Bank, which has the third-lowest variable rate without conditions in the Mozo database for those with a 20% deposit (on 15 September, 2025).

When it comes to fixed rate home loans, we’re seeing a growing number of lenders drop rates below the 5% mark. BCU and P&N Bank are among the customer-owned lenders with leading rates for one- and two-year fixed loans.

Whether you’re looking for a home loan for the first time or you’re planning to refinance, it’s worth paying close attention to leading customer-owned banks. They tend to have lower rates than the Big Four banks, and they’re known for reinvesting profits back into their communities.

Not only that, 50% of the winners in our Experts Choice Awards for Home Loans in 2025 were mutual banks, and 15% were credit unions. If you’re keen to start your search and weigh up some of the best home loans, we’ve got a sampling of top customer-owned banks.