Mega RBA home loan rate cuts continue

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The Reserve Bank cut the official cash rate twice in March to a new low of 0.25% and Australia’s most competitive lenders are dropping home loan rates to gob-smacking new lows.
The lowest variable home loan rates on the market now start below 2.60% - a far cry from the average big bank variable home loan rate of 3.71%, even though the banks have passed through part of the RBA's cuts. As a result there are some huge savings on offer for borrowers who are prepared to shop around and switch.
With so much competition being driven by smaller lenders, the average big 4 bank borrower with a $400K owner occupier home loan could save up to $3,304 a year by switching to the most competitive home loan on the market.
So, if you'd like to take advantage of the latest rate cut to snap up a killer new home loan deal, compare the latest rates in the table below and see how much you could be saving.
LOW RATE HOME LOAN COMPARISONS
Rates updated daily. Advertiser disclosure.
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1.99% p.a.variable for 12 months and then 2.48% p.a.
2.47% p.a.
$1234
Product details Close detailsSmart Booster Home Loan
1 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR
1.99% p.a.variable for 12 months and then 2.48% p.a.
2.47% p.a.
A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum deposit required.
Smart Booster Home Loan
A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum deposit required.
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1.99% p.a.variable for 12 months and then 2.48% p.a.
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2.47% 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
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Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Smart Booster Home Loan
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2.34% p.a.
2.34% p.a.
$1234
Product details Close detailsUHomeLoan - Discount Offer
Owner Occupier, Principal & Interest
2.34% p.a.
2.34% 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.
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2.34% p.a.
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2.34% p.a.
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$0
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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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no
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80.00%
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$0
-
$100,000
-
-
-
Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the UHomeLoan - Discount Offer
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2.19% p.a.
2.19% p.a.
$1234
Product details Close detailsCelebrate Variable Home Loan
<60% LVR, Owner Occupier, Principal & Interest
2.19% p.a.
2.19% 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.^
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2.19% p.a.
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2.19% p.a.
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$0
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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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no
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60.00%
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$0
-
$100,000
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$2,000,000
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Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Celebrate Variable Home Loan
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2.64% p.a.
2.64% p.a.
$1234
Product details Close detailsBasic Home Loan
Owner Occupier, LVR<80%, Principal & Interest
2.64% p.a.
2.64% p.a.
Flexible loan structure – create up to six loan accounts with different rate and repayment types. Free redraw from your loan using Macquarie Online.
Basic Home Loan
Flexible loan structure – create up to six loan accounts with different rate and repayment types. Free redraw from your loan using Macquarie Online.
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2.64% p.a.
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2.64% p.a.
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$0
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$0.00
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$400.00
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yes - free
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yes - free
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no
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80.00%
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$0
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$150,000
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$749,999
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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
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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) and can also make extra repayments. Redraw facility available. Simple online application process.
Neat Home Loan
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) and can also make extra repayments. Redraw facility available. Simple online application process.
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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
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no
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60.00%
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$250
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$80,000
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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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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Neat Home Loan
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2.49% p.a.
2.49% p.a.
$1234
Product details Close detailsBasic Variable Home Loan
LVR<80%, Owner Occupier, Principal and Interest, >$150k
2.49% p.a.
2.49% p.a.
A People’s Choice Basic Variable home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate and no upfront or ongoing fees. It also allows you to have the freedom to make extra repayments to pay off your loan sooner.
Basic Variable Home Loan
A People’s Choice Basic Variable home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate and no upfront or ongoing fees. It also allows you to have the freedom to make extra repayments to pay off your loan sooner.
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2.49% p.a.
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2.49% p.a.
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$0
-
$0.00
-
$350.00
-
yes - free
-
yes - free
-
no
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80.00%
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$0
-
$150,000
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$1,500,000
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Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Basic Variable Home Loan
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2.54% p.a.
2.55% p.a.
$1234
Product details Close detailsBack to Basics Special
LVR<80%, Owner Occupier, Principal & Interest
2.54% p.a.
2.55% p.a.
No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more.
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.
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2.54% p.a.
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2.55% p.a.
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$0
-
$0.00
-
$350.00
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Yes - free
-
yes - free
-
no
-
80.00%
-
$0
-
$150,000
-
-
-
Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Back to Basics Special
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2.59% p.a.
2.76% p.a.
$1234
Product details Close detailsEconomy Variable Home Loan
Owner Occupier, Principal & Interest, <70% LVR
2.59% p.a.
2.76% p.a.
An ongoing low variable interest rate with free redraw, flexible repayment options and one free valuation. Discounted Economy variable rate available for owner occupier lending with max LVR of 70%.
Economy Variable Home Loan
An ongoing low variable interest rate with free redraw, flexible repayment options and one free valuation. Discounted Economy variable rate available for owner occupier lending with max LVR of 70%.
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2.59% p.a.
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2.76% p.a.
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$450
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$10.00 monthly
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$320.00
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yes - free
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yes
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no
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70.00%
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$450
-
$150,000
-
-
-
Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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$3,000 cashback when you refinance your home loan to BOQ, min $250,000, 80% LVR or less. Apply before 26 February 2021, settle by 28 May 2021.
Read our Mozo Review to learn more about the Economy Variable Home Loan
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2.09% p.a.
2.12% p.a.
$1234
Product details Close detailsVariable Home Loan Special
Owner Occupier, Principal & Interest, LVR <70%
2.09% p.a.
2.12% p.a.
Yard’s low-rate variable special home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Special rate applies to home loan applications submitted by 28 February 2021.
Variable Home Loan Special
Yard’s low-rate variable special home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Special rate applies to home loan applications submitted by 28 February 2021.
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2.09% p.a.
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2.12% p.a.
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$835
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$0.00
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$500.00
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yes - free
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yes - free
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Optional - $10 per month
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70.00%
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$835
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$150,000
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$1,500,000
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Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Special rate applies to home loan applications submitted by 28 February 2021.
Read our Mozo Review to learn more about the Variable Home Loan Special
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2.59% p.a.
2.63% p.a.
$1234
Product details Close detailsSpecial Real Deal Home Loan
Owner Occupier, Principal & Interest
2.59% p.a.
2.63% p.a.
Enjoy a great low rate with no ongoing fees. Ability to split your loan between fixed and variable. Partial offset available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Limited time offer extended, T&Cs apply
Special Real Deal Home Loan
Enjoy a great low rate with no ongoing fees. Ability to split your loan between fixed and variable. Partial offset available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Limited time offer extended, T&Cs apply
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2.59% p.a.
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2.63% p.a.
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$0
-
$0.00
-
$0.00
-
yes - free
-
yes - fees apply
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yes - partial only
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80.00%
-
$0
-
$150,000
-
-
-
Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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$2,000 cashback when you refinance your home loan from another financial institution when you apply by 28 February 2021 and are funded by 30 April 2021, min $250k, LVR <80%
Read our Mozo Review to learn more about the Special Real Deal Home Loan
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^See information about the Mozo Experts Choice Home loans Awards