loans.com.au announces 0.25% home loan rate reduction following March RBA cut
04 Mar 2020
Online lender loans.com.au has announced that it will be taking the axe to variable rate home loans following the Reserve Bank’s decision to reduce the official cash rate from 0.75% to 0.50% at its March meeting yesterday afternoon.
Loans wasted no time in announcing its own decision, informing borrowers that it would be reducing variable home loan interest rates by 0.25% for all existing customers just hours after the official RBA decision.
According to loans.com.au, the rate cut will come into effect on March 26 and it will have an impact on the following home loans.
- Smart Home Loan: Rate will reduce from 2.78% (2.80% comparison rate*) to 2.53% (2.55% comparison rate*) for borrowers with an LVR below 75%.
- Essentials Variable: Rate will reduce from 3.04% (3.06% comparison rate*) to 2.79% (2.81% comparison rate*) for borrowers with an LVR below 90%.
- ZIP Home Loan: Rate will reduce from 3.08% (3.10% comparison rate*) to 2.83% (2.85% comparison rate*) for borrowers with an LVR below 80%.
- Offset Variable: Rate will reduce from 3.12% (3.14% comparison rate*) to 2.87% (2.89% comparison rate*) for borrowers with an LVR below 80%.
The latest decision means that the online lender has now passed on 0.85% out of a possible 1.00% in cuts to its variable rate customers following Reserve Bank moves in June 2019, July 2019, October 2019 and March 2020.
Ready to find out more about the home loans on offer from loans.com.au? Check out our dedicated loans.com.au home loans snapshot, or check out some of the hottest deals around (including the Smart Home Loan 75) in the table below.
Compare home loans 2019
Rates updated daily. Advertiser disclosure.
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Mozo experts choice awards won:
- Offset Home Loan - 2021
- Low Cost Home Loan - 2021
1.85% p.a.variable for 24 months and then 2.25% p.a.
2.21% p.a.
$1234
Product details Close details
Mozo experts choice awards won:
- Offset Home Loan - 2021
- Low Cost Home Loan - 2021
Smart Booster Home Loan
2 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR
1.85% p.a.variable for 24 months and then 2.25% p.a.
2.21% p.a.
New super low introductory rate home loan for two years. Min 20% deposit. No monthly or ongoing fees. Fast settlement times. Mozo award-winning online lender. Friendly, local Australian based team.
Smart Booster Home Loan
New super low introductory rate home loan for two years. Min 20% deposit. No monthly or ongoing fees. Fast settlement times. Mozo award-winning online lender. Friendly, local Australian based team.
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1.85% p.a.variable for 24 months and then 2.25% p.a.
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2.21% p.a.
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$520
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$0.00
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$0.00
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yes - free
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yes - free
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Optional - with 0.10% additional interest
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80.00%
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$520
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$50,000
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$1,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Smart Booster Home Loan
Details Close
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2.29% p.a.
2.29% p.a.
$1234
Product details Close detailsBasic Home Loan
Owner Occupier, LVR<60%, Principal & Interest
2.29% p.a.
2.29% p.a.
Competitive low variable rate. No application or account management fees. Flexibility to split your loan and set different repayment types. Fee free withdrawals of your savings.
Basic Home Loan
Competitive low variable rate. No application or account management fees. Flexibility to split your loan and set different repayment types. Fee free withdrawals of your savings.
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2.29% p.a.
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2.29% p.a.
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$0
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$0.00
-
$400.00
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yes - free
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yes - free
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no
-
60.00%
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$0
-
$150,000
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$5,000,000
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Variable
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Principal & Interest
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Owner Occupier
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Monthly
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Read our Mozo Review to learn more about the Basic Home Loan
Details Close
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-
Mozo experts choice awards won:
- Home Loan Innovation - 2021
- Investor Home Loan - 2021
- Low Cost Home Loan - 2021
1.99% p.a.
1.99% p.a.
$1234
Product details Close details Mozo experts choice awards won:
- Home Loan Innovation - 2021
- Investor Home Loan - 2021
- Low Cost Home Loan - 2021
Celebrate Variable Home Loan
<60% LVR, Owner Occupier, Principal & Interest
1.99% p.a.
1.99% p.a.
Fast and efficient online application. Automatic discounts as loan is paid down. Free extra repayments and redraw facility. Zero fees. Min 40% deposit required. Winner of three Mozo Expert's Choice Awards for 2021.
Celebrate Variable Home Loan
Fast and efficient online application. Automatic discounts as loan is paid down. Free extra repayments and redraw facility. Zero fees. Min 40% deposit required. Winner of three Mozo Expert's Choice Awards for 2021.
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1.99% p.a.
-
1.99% p.a.
-
$0
-
$0.00
-
$0.00
-
yes - free
-
yes - free
-
no
-
60.00%
-
$0
-
$100,000
-
$2,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Celebrate Variable Home Loan
Details Close
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2.19% p.a.
2.20% p.a.
$1234
Product details Close detailsNeat Home Loan
Owner Occupier, Principal & Interest, LVR <60%
2.19% p.a.
2.20% p.a.
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) Make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.
Neat Home Loan
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) Make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.
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2.19% p.a.
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2.20% p.a.
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$250
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$0.00
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$300.00
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yes - free
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yes - free
-
no
-
60.00%
-
$250
-
$80,000
-
$5,000,000
-
Variable
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Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Neat Home Loan
Details Close
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1.99% p.a.
1.99% p.a.
$1234
Product details Close detailsVariable Home Loan
Owner Occupier, Principal & Interest
1.99% p.a.
1.99% p.a.
Refinance only. Super-fast digital application process. Zero upfront fees. No on-going service fees. Free 100% offset sub account. Comes with Visa debit card and the ability to use digital wallets; Apple and Google Pay. 25% deposit required.
Variable Home Loan
Refinance only. Super-fast digital application process. Zero upfront fees. No on-going service fees. Free 100% offset sub account. Comes with Visa debit card and the ability to use digital wallets; Apple and Google Pay. 25% deposit required.
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1.99% p.a.
-
1.99% p.a.
-
$0
-
$0.00
-
$0.00
-
yes - free
-
yes - free
-
yes - offset sub account
-
75.00%
-
$0
-
$100,000
-
$2,500,000
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Variable
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Principal & Interest
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Owner Occupier
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Monthly
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Read our Mozo Review to learn more about the Variable Home Loan
Details Close
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^See information about the Mozo Experts Choice Home loans Awards
