jumps on October RBA home loan rate cut party

Following last Tuesday's RBA rate cut, home loan interest rates have been dropping like dancers in a limbo contest, but as one of the perennial members of the low rate home loan club, it wouldn't be much of a rate cut party without 

The online lender has announced its response to the 0.25% drop in the official cash rate though, with taking 0.15% off a number of variable rate home loan offers for both owner occupiers and investors. 

The changes, which come into effect on October 17, will have an impact on a number of home loan offers including: 

Essentials Variable loan - reduced by 0.15% with rates now as low as 3.04% (3.06% comparison rate*).

Smart Home Loan - reduced by 0.15% with rates now as low as 2.88% (2.90% comparison rate*). 

ZIP Home Loan - reduced by 0.15% with rates now as low as 3.08% (3.10% comparison rate*). 

Offset Variable loan - reduced by 0.15% with rates now as low as 3.12% (3.14% comparison rate*). 

Since the Reserve Bank board made its first interest rate cut of 2019 back in June, had passed on 0.60% out of the possible 0.75% in RBA cuts to its variable rate customers. 

And in comparison to other loans the online lender still remains one of the most competitive, with many of the mortgage interest rates remaining well below the current average variable rate in the Mozo database of 3.71% (for owner occupiers making principal and interest repayments). 

So, are you ready to get acquainted with some of the hot home loan offers from Here are a few to get you started. - Essentials Variable 90
  • 3.04% (3.06% comparison rate*) variable rate
  • Offset account attached
  • $0 application or ongoing fees
Find out more

If you’re in the market for a loan with all the tools and features to help you reduce your repayments, then the Essentials Variable home loan could be just the ticket. Borrowers will be able to grab a low 3.04% (3.06% comparison rate*) variable rate from October 17 and the lack of any application and monthly fees means they can focus their attention on repayments (just watch out for the $220 valuation and $300 settlement fees). The loan even comes with attached with an offset account, a redraw facility and the option of making additional repayments. - Smart Home Loan 80
  • 2.88% (2.90% comparison rate*) variable rate
  • No application or monthly fees
  • Borrow from $50,000 - $1,000,000
Find out more

If you think grabbing a low home loan rate could be a savvy move, you might just love the seriously low rate that comes with’s Smart Home Loan. The new 2.88% (2.90% comparison rate*) variable rate will be available from 17 October, and borrowers will also be able to take advantage of a number of other useful features including free extra repayments and a free redraw facility. Just make sure you budget ahead for the valuation ($220) and settlement ($300) fees, but with zero application or ongoing fees to worry about this might be a small price to pay. - ZIP Home Loan
  • Low variable rate of 3.08% (3.10% comparison rate*)
  • Zip Card visa debit card option (2019 Mozo Experts Choice Best New Feature Award)^
  • Extra repayments and redraw facility
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A competitive low rate home loan with an innovative difference? That’s what are offering with the ZIP Home Loan. To whet borrowers appetites the loan comes with a low variable rate of just 3.08% (3.10% comparison rate*) from October 17, plus borrowers won’t need to worry about getting stung by any ongoing fees. What really makes the ZIP Home Loan stand apart is the attached ZIP debit card which provides a $5,000 credit facility that’s both fee and interest free! No wonder the ZIP Card took out a 2019 Mozo Experts Choice Home Loan Award for Best New Feature. - Smart Home Loan with Offset 80
  • Variable rates from 3.12% (3.14% comparison rate*)
  • Offset account to help you reduce interest
  • Zero application or monthly fees
Find out more

Can a home loan really come with an offset account and a low rate? The Offset Variable loan from says yes. Owner occupiers will be able to grab competitive rates starting from 3.12% (3.14% comparison rate*) as of October 17 and they’ll even have an offset account at their disposal to help reduce their repayments. Speaking of repayments, the Offset Variable loan also lets borrowers make extra repayments on their loans for free, plus it doesn’t come with any application or monthly fees. Just make sure you set aside some money in your budget for the $220 valuation and $300 settlement fees.

Want to find out how the offers stack up against the competition? Head on over to the Mozo home loans comparison tables to compare over 500 home loans from 80 different lenders. 

^Find out more about the 2019 Mozo Experts Choice Awards for Home Loans

* 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. You can change the loan amount and term in the input boxes at the top of this table. 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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