Mega RBA home loan rate cuts continue
Mozo
23 Mar 2020
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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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Mozo experts choice awards won:
- Offset Home Loan - 2021
- Low Cost Home Loan - 2021
1.99% p.a.variable for 12 months and then 2.48% p.a.
2.47% p.a.
$1234
Product details Close detailsMozo experts choice awards won:
- Offset Home Loan - 2021
- Low Cost Home Loan - 2021
Smart 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. Winner of two Mozo Expert's Choice Award for 2021.
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. Winner of two Mozo Expert's Choice Award for 2021.
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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
Details Close
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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
-
80.00%
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$0
-
$150,000
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$749,999
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Variable
-
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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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 to consider. Fast and easy online application. Free redraw and free extra repayments. Flexible payment terms. Min 20% deposit required.
UHomeLoan - Discount Offer
Enjoy a super low rate. $0 fees to consider. Fast and easy online application. Free redraw and free extra repayments. Flexible payment terms. Min 20% deposit required.
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2.34% p.a.
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2.34% p.a.
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$0
-
$0.00
-
$0.00
-
yes - free
-
yes - free
-
no
-
80.00%
-
$0
-
$100,000
-
-
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the UHomeLoan - Discount Offer
Details Close
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Mozo experts choice awards won:
- Home Loan Innovation - 2021
- Investor Home Loan - 2021
- Low Cost Home Loan - 2021
2.19% p.a.
2.19% p.a.
$1234
Product details Close detailsMozo 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
2.19% p.a.
2.19% p.a.
Fast and efficient online application. Automatic discounts as loan is paid off. Free extra repayments and redraw facility. Zero fees to consider. Min 40% deposit required. Winner of three Mozo Expert's Choice Award for 2021.
Celebrate Variable Home Loan
Fast and efficient online application. Automatic discounts as loan is paid off. Free extra repayments and redraw facility. Zero fees to consider. Min 40% deposit required. Winner of three Mozo Expert's Choice Award for 2021.
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2.19% p.a.
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2.19% p.a.
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$0
-
$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
-
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
Details Close
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2.44% p.a.
2.45% p.a.
$1234
Product details Close detailsBack to Basics Special
LVR<80%, Owner Occupier, Principal & Interest
2.44% p.a.
2.45% 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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2.44% p.a.
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2.45% p.a.
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$0
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$0.00
-
$350.00
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Yes - free
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yes - free
-
no
-
80.00%
-
$0
-
$150,000
-
-
-
Variable
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Principal & Interest
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Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Back to Basics Special
Details Close
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1.79% p.a.
1.84% p.a.
$1234
Product details Close detailsStar Gold Home Loan
Owner Occupier, Principal & Interest, Refinance Only, <60% LVR
1.79% p.a.
1.84% p.a.
An exceptional low rate for owner occupiers with 40% or more equity in their home. No ongoing fees. Unlimited additional repayments with free online redraws. loan size $150k to $750k, no construction loans. Metro Areas Only.
Star Gold Home Loan
An exceptional low rate for owner occupiers with 40% or more equity in their home. No ongoing fees. Unlimited additional repayments with free online redraws. loan size $150k to $750k, no construction loans. Metro Areas Only.
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1.79% p.a.
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1.84% p.a.
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$910
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$0.00
-
$535.00
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yes - free
-
yes - free
-
no
-
60.00%
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$910
-
$150,000
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$500,000
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Variable
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Principal & Interest
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Owner Occupier
-
Weekly, Fortnightly, Monthly
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Limited time offer for applications received by 31 January 2021 and settled by 30 April 2021.
Read our Mozo Review to learn more about the Star Gold Home Loan
Details Close
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Mozo experts choice awards won:
- Low Cost Home Loan - 2021
2.09% p.a.
2.12% p.a.
$1234
Product details Close detailsMozo experts choice awards won:
- Low Cost Home Loan - 2021
Variable 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 31st May 2021. Low Cost Home Loan winner in the Mozo Expert's Choice Award for 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 31st May 2021. Low Cost Home Loan winner in the Mozo Expert's Choice Award for 2021.
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2.09% p.a.
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2.12% p.a.
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$849
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$0.00
-
$500.00
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yes - free
-
yes - free
-
Optional - $10 per month
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70.00%
-
$849
-
$150,000
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$1,500,000
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Variable
-
Principal & Interest
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Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Special rate applies to home loan applications submitted by 31 May 2021.
Read our Mozo Review to learn more about the Variable Home Loan Special
Details Close
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2.44% p.a.
2.45% p.a.
$1234
Product details Close detailsDiscounted Home Value Loan
Owner Occupier, Principal & Interest
2.44% p.a.
2.45% p.a.
No ongoing service fees. Free unlimited extra repayments and online redraw facility.
Discounted Home Value Loan
No ongoing service fees. Free unlimited extra repayments and online redraw facility.
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2.44% p.a.
-
2.45% p.a.
-
$150
-
$0.00
-
$300.00
-
yes - free
-
yes - free
-
no
-
80.00%
-
$150
-
$50,000
-
$15,000,000
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Variable
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Principal & Interest
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Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Receive $3,288 when you refinance a minimum of $250k for applications from 15 Feb to 30 April 2021, settled by 30 June 2021.
Read our Mozo Review to learn more about the Discounted Home Value Loan
Details Close
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Mozo experts choice awards won:
- Offset Home Loan - 2021
2.17% p.a.
2.20% p.a.
$1234
Product details Close detailsMozo experts choice awards won:
- Offset Home Loan - 2021
Well Balanced
Owner Occupier, Principal & Interest, LVR <80%
2.17% p.a.
2.20% p.a.
Well Balanced home loan is a low rate home loan with free online redraw and no valuation fee. Purchase, Refinance or Equity Release purposes allowed. Offset Home Loan winner in the Mozo Expert's Choice Award for 2021.
Well Balanced
Well Balanced home loan is a low rate home loan with free online redraw and no valuation fee. Purchase, Refinance or Equity Release purposes allowed. Offset Home Loan winner in the Mozo Expert's Choice Award for 2021.
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2.17% p.a.
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2.20% p.a.
-
$785
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$0.00
-
$300.00
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yes - free
-
yes - free
-
Optional - $10 per month
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80.00%
-
$785
-
$200,000
-
$2,000,000
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Variable
-
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 Well Balanced
Details Close
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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.
-
2.49% p.a.
-
$0
-
$0.00
-
$350.00
-
yes - free
-
yes - free
-
no
-
80.00%
-
$0
-
$150,000
-
$1,500,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Basic Variable Home Loan
Details Close
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