Mega RBA home loan rate cuts continue
Mozo
02 Oct 2019
Home loan rates are plunging below 3.00% in the wake of the latest RBA rate cut, and smaller non-bank lenders are once again leading the charge.
Online lenders Athena and Homestar were first out of the blocks to pass on the full 25 basis point cut, taking their variable rates to an amazingly low 2.74% (2.77% comparison rate*) and 2.84% (2.80% comparison rate*) respectively. UBank was quick to follow, announcing its own 25 basis point cut that will drop its variable and comparison rate* down to 2.84%, right on par with Athena.
Since the RBA started slashing the cash rate in June this year, online lenders have consistently led home loan rates downwards, causing more and more borrowers to question why the big banks can't be so generous or quick with their own rate cuts.
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
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Promoted
loans.com.au2.88% p.a. variable
2.90% p.a.
$1234
Product details Close detailsloans.com.auSmart Home Loan
Owner Occupier, Principal & Interest
2.88% p.a. variable
2.90% p.a.
A low-rate home loan that could save you thousands. No application or ongoing fees. Unlimited additional repayments. Unlimited free redraws with no minimum redraw amount, Limited time only.
Smart Home Loan
A low-rate home loan that could save you thousands. No application or ongoing fees. Unlimited additional repayments. Unlimited free redraws with no minimum redraw amount, Limited time only.
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2.88% p.a. variable
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2.90% p.a.
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$520
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$0.00
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$0.00
-
yes - free
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yes - free
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no
-
80.00%
-
$50,000
-
$1,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Smart Home Loan
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-
Promoted
Athena2.84% p.a. variable
2.80% p.a.
$1234
Product details Close detailsAthenaVariable Home Loan
Owner Occupier, Principal & Interest
2.84% p.a. variable
2.80% p.a.
Get the rate cut you deserve from one of Australia's newest direct lenders. For the third time this year the full cut has been passed on to all customers. The same low rates for new and existing customers. No fees and fee-free redraw. Min 20% deposit.
Variable Home Loan
Get the rate cut you deserve from one of Australia's newest direct lenders. For the third time this year the full cut has been passed on to all customers. The same low rates for new and existing customers. No fees and fee-free redraw. Min 20% deposit.
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2.84% p.a. variable
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2.80% p.a.
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$0
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$0.00
-
$0.00
-
yes - free
-
yes - free
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no
-
80.00%
-
$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 Variable Home Loan
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Promoted
Bank of Queensland2.99% p.a.
fixed 3 years3.72% p.a.
$1234
Product details Close detailsBank of QueenslandDiscount Fixed Rate 300k+
Owner Occupier, Principal & Interest
2.99% p.a.
fixed 3 years3.72% p.a.
Minimum loan amount of $300k. 20% deposit needed. Free additional repayments up to $5,000 per year.
Discount Fixed Rate 300k+
Minimum loan amount of $300k. 20% deposit needed. Free additional repayments up to $5,000 per year.
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2.99% p.a.
fixed 3 years -
3.72% p.a.
-
$450
-
$10.00 monthly
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$320.00
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yes - free up to $5,000 p.a
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no
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no
-
80.00%
-
$300,000
-
-
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Discount Fixed Rate 300k+
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Promoted
Queensland Country Credit Union3.49% p.a.
fixed 3 years3.90% p.a.
$1234
Product details Close detailsQueensland Country Credit UnionRateSaver
Investor, Interest Only, Fixed
3.49% p.a.
fixed 3 years3.90% p.a.
No Annual or Monthly Loan Maintenance Fees. Pay up to $10,000 in additional repayments each year. Borrow up to 90% LVR.
RateSaver
No Annual or Monthly Loan Maintenance Fees. Pay up to $10,000 in additional repayments each year. Borrow up to 90% LVR.
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3.49% p.a.
fixed 3 years -
3.90% p.a.
-
$500
-
$0.00
-
$0.00
-
yes - up to $10,000 per year
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no
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no
-
90.00%
-
$100,000
-
$5,000,000
-
Fixed
-
Interest Only
-
Investor
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the RateSaver
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Promoted
IMB Bank3.13% p.a. variable
3.19% p.a.
$1234
Product details Close detailsIMB BankBudget Home Loan
LVR 70-90%, Owner Occupier, Principal & Interest
3.13% p.a. variable
3.19% p.a.
Start with only 10% minimum deposit. Unrestricted additional repayments and free redraw facility.
Budget Home Loan
Start with only 10% minimum deposit. Unrestricted additional repayments and free redraw facility.
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3.13% p.a. variable
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3.19% p.a.
-
$799
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$0.00
-
$350.00
-
yes - free
-
yes - free
-
no
-
90.00%
-
$75,000
-
$5,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Budget Home Loan
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Promoted
Tic:Toc
2.84% p.a. variable
2.85% p.a.
$1234
Product details Close detailsTic:Toc Variable Home Loan
Owner Occupier, Principal & Interest
2.84% p.a. variable
2.85% p.a.
Get full approval online. Award-winning platform could save you thousands with super-low rates. No application, valuation or settlement fees. Fee-free redraws and extra repayments. Optional offset account for $10 per month. Winner of a Mozo Experts Choice Award 2019 for Online Home Lender of the Year 2019.^
Variable Home Loan
Get full approval online. Award-winning platform could save you thousands with super-low rates. No application, valuation or settlement fees. Fee-free redraws and extra repayments. Optional offset account for $10 per month. Winner of a Mozo Experts Choice Award 2019 for Online Home Lender of the Year 2019.^
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2.84% p.a. variable
-
2.85% p.a.
-
$0
-
$0.00
-
$325.00
-
yes - free
-
yes - free
-
Optional - $10 per month
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90.00%
-
$50,000
-
$2,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Variable Home Loan
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-
Promoted
UBank 2.84% p.a. variable
2.84% p.a.
$1234
Product details Close detailsUBank UHomeLoan - Discount Offer
Owner Occupier, Principal & Interest
2.84% p.a. variable
2.84% p.a.
Free redraw with flexible repayments. Min 20% deposit. Winner of a Mozo Experts Choice Award 2019 in the Low Cost Home Loan category^.
UHomeLoan - Discount Offer
Free redraw with flexible repayments. Min 20% deposit. Winner of a Mozo Experts Choice Award 2019 in the Low Cost Home Loan category^.
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2.84% p.a. variable
-
2.84% p.a.
-
$0
-
$0.00
-
$0.00
-
yes - free
-
yes - free
-
no
-
80.00%
-
$200,000
-
-
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the UHomeLoan - Discount Offer
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Promoted
Heritage Bank3.07% p.a. variable
3.09% p.a.
$1234
Product details Close detailsHeritage BankDiscount Variable Home Loan
Owner Occupier, LVR<80%
3.07% p.a. variable
3.09% p.a.
No monthly administration fees. Ability to make extra repayments and redraws. A great low rate. No ongoing fees. Experience the difference this established bank has to offer.
Discount Variable Home Loan
No monthly administration fees. Ability to make extra repayments and redraws. A great low rate. No ongoing fees. Experience the difference this established bank has to offer.
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3.07% p.a. variable
-
3.09% p.a.
-
$150
-
$0.00
-
$250.00
-
yes - free
-
yes - free
-
no
-
80.00%
-
$150,000
-
-
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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$600 application fee waived for applications made before 30 November 2019 and funded by 31 March 2020.
Read our Mozo Review to learn more about the Discount Variable Home Loan
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Promoted
loans.com.au 3.08% p.a. variable
3.10% p.a.
$1234
Product details Close detailsloans.com.au ZIP Home Loan
Owner Occupier, Principal & Interest
3.08% p.a. variable
3.10% p.a.
A super-low-rate home loan that comes with a $5,000 limit Visa Debit Card that is interest free for the life of the loan. No monthly or ongoing fees. Unlimited additional repayments. Unlimited free redraws with no minimum redraw amount. Best New Feature in Mozo Experts Choice Awards 2019.^
ZIP Home Loan
A super-low-rate home loan that comes with a $5,000 limit Visa Debit Card that is interest free for the life of the loan. No monthly or ongoing fees. Unlimited additional repayments. Unlimited free redraws with no minimum redraw amount. Best New Feature in Mozo Experts Choice Awards 2019.^
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3.08% p.a. variable
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3.10% p.a.
-
$520
-
$0.00
-
$0.00
-
yes - free
-
yes - free
-
no
-
80.00%
-
$250,000
-
$2,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the ZIP Home Loan
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Promoted
Athena3.24% p.a. variable
3.20% p.a.
$1234
Product details Close detailsAthenaVariable Home Loan
Investment, Principal & Interest
3.24% p.a. variable
3.20% p.a.
Loyalty bonus each year for 5 years just for making your repayments on time. No monthly or annual fees. No application fees.
Variable Home Loan
Loyalty bonus each year for 5 years just for making your repayments on time. No monthly or annual fees. No application fees.
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3.24% p.a. variable
-
3.20% p.a.
-
$0
-
$0.00
-
$0.00
-
yes - free
-
yes - free
-
no
-
80.00%
-
$100,000
-
$2,000,000
-
Variable
-
Principal & Interest
-
Investor
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Variable Home Loan
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