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.
- loans.com.au
2.48% p.a.
2.50% p.a.
$1234
Product details Close detailsloans.com.au Smart Home Loan 80
Owner Occupier, Principal & Interest
2.48% p.a.
2.50% p.a.
A low-rate home loan that could save you thousands, with no ongoing fees plus unlimited extra repayments and free redraws. Mozo Experts Choice Low Cost Home Loan 2020.^ You'll need to be borrowing $1 million or less and have at least a 20% deposit required.
Smart Home Loan 80
A low-rate home loan that could save you thousands, with no ongoing fees plus unlimited extra repayments and free redraws. Mozo Experts Choice Low Cost Home Loan 2020.^ You'll need to be borrowing $1 million or less and have at least a 20% deposit required.
-
2.48% p.a.
-
2.50% p.a.
-
$520
-
$0.00
-
$0.00
-
yes - free
-
yes - free
-
Optional - with 0.10% additional interest
-
80.00%
-
$520
-
$50,000
-
$1,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Smart Home Loan 80
-
- HSBC
2.59% p.a.
2.60% p.a.
$1234
Product details Close detailsHSBC Home Value Loan
Owner Occupier, Principal & Interest
2.59% p.a.
2.60% p.a.
No ongoing fees. Free extra repayments and online redraw. Mozo Experts Choice Split Home Loan 2020^
Home Value Loan
No ongoing fees. Free extra repayments and online redraw. Mozo Experts Choice Split Home Loan 2020^
-
2.59% p.a.
-
2.60% p.a.
-
$150
-
$0.00
-
$300.00
-
yes - free
-
yes - free
-
no
-
80.00%
-
$150
-
$50,000
-
$7,500,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
-
- Athena
2.34% p.a.
2.34% p.a.
$1234
Product details Close detailsAthena Celebrate Variable Home Loan
<60% LVR, Owner Occupier, Principal & Interest
2.34% p.a.
2.34% p.a.
Fast online application with no fees. Free extra repayments and redraw facility. Min 40% deposit. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
Celebrate Variable Home Loan
Fast online application with no fees. Free extra repayments and redraw facility. Min 40% deposit. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
-
2.34% p.a.
-
2.34% 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
-
Read our Mozo Review to learn more about the Celebrate Variable Home Loan
-
- UBank
2.49% p.a.
2.49% p.a.
$1234
Product details Close detailsUBank UHomeLoan - Discount Offer
Owner Occupier, Principal & Interest
2.49% p.a.
2.49% p.a.
Enjoy a super low rate, $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Free redraw with flexible repayments. Min 20% deposit.
UHomeLoan - Discount Offer
Enjoy a super low rate, $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Free redraw with flexible repayments. Min 20% deposit.
-
2.49% p.a.
-
2.49% p.a.
-
$0
-
$0.00
-
$0.00
-
yes - free
-
yes - free
-
no
-
80.00%
-
$0
-
$100,000
-
-
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the UHomeLoan - Discount Offer
-
- Suncorp
2.68% p.a.
2.69% p.a.
$1234
Product details Close detailsSuncorpBack to Basics Special
LVR<80%, Owner Occupier, Principal & Interest
2.68% p.a.
2.69% p.a.
No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more. Get a $2,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan of $250k+. T&Cs & eligibility criteria apply.
Back to Basics Special
No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more. Get a $2,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan of $250k+. T&Cs & eligibility criteria apply.
-
2.68% p.a.
-
2.69% p.a.
-
$0
-
$0.00
-
$350.00
-
Yes - free
-
yes - free
-
no
-
80.00%
-
$0
-
$150,000
-
-
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Refinance from another lender to receive a $2,000 cash bonus for loans of at least $250,000 or $3,000 bonus for loans over $750,000. Available for loans with an LVR <90% and applications made by 18 December 2020 and settled by 26 March 2021.
Read our Mozo Review to learn more about the Back to Basics Special
-
^See information about the Mozo Experts Choice Home loans Awards
