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
1.85% p.a.variable for 24 months and then 2.25% p.a.
2.21% p.a.
$1234
Product details Close details
Mozo experts choice awards won:
- Offset Home Loan - 2021
- Low Cost Home Loan - 2021
Smart Booster Home Loan
2 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR
1.85% p.a.variable for 24 months and then 2.25% p.a.
2.21% p.a.
New super low introductory rate home loan for two years. Min 20% deposit. No monthly or ongoing fees. Fast settlement times. Mozo award-winning online lender. Friendly, local Australian based team.
Smart Booster Home Loan
New super low introductory rate home loan for two years. Min 20% deposit. No monthly or ongoing fees. Fast settlement times. Mozo award-winning online lender. Friendly, local Australian based team.
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1.85% p.a.variable for 24 months and then 2.25% p.a.
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2.21% 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
-
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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Mozo experts choice awards won:
- Home Loan Innovation - 2021
- Investor Home Loan - 2021
- Low Cost Home Loan - 2021
1.99% p.a.
1.99% p.a.
$1234
Product details Close details Mozo 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
1.99% p.a.
1.99% p.a.
Fast and efficient online application. Automatic discounts as loan is paid down. Free extra repayments and redraw facility. Zero fees. Min 40% deposit required. Winner of three Mozo Expert's Choice Awards for 2021.
Celebrate Variable Home Loan
Fast and efficient online application. Automatic discounts as loan is paid down. Free extra repayments and redraw facility. Zero fees. Min 40% deposit required. Winner of three Mozo Expert's Choice Awards for 2021.
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1.99% p.a.
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1.99% 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
-
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
-
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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2.29% p.a.
2.29% p.a.
$1234
Product details Close detailsBasic Home Loan
Owner Occupier, LVR<60%, Principal & Interest
2.29% p.a.
2.29% p.a.
Competitive low variable rate. No application or account management fees. Flexibility to split your loan and set different repayment types. Fee free withdrawals of your savings.
Basic Home Loan
Competitive low variable rate. No application or account management fees. Flexibility to split your loan and set different repayment types. Fee free withdrawals of your savings.
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2.29% p.a.
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2.29% p.a.
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$0
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$0.00
-
$400.00
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yes - free
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yes - free
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no
-
60.00%
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$0
-
$150,000
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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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Monthly
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Read our Mozo Review to learn more about the Basic Home Loan
Details Close
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Featured Product
2.44% p.a.
2.49% p.a.
$1234
Product details Close detailsPrime Home Loan
Owner Occupier, Principal & Interest, LVR <70%
2.44% p.a.
2.49% p.a.
Competitive low variable rates for borrowers with 30% deposit. Flexible home loan with no ongoing fees. Extra repayments and redraw available. Get a dedicated specialist for the loan application process.
Prime Home Loan
Competitive low variable rates for borrowers with 30% deposit. Flexible home loan with no ongoing fees. Extra repayments and redraw available. Get a dedicated specialist for the loan application process.
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2.44% p.a.
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2.49% p.a.
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$710
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-
-
$250.00
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yes - free
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yes - free
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no
-
70.00%
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$710
-
$100,000
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$1,250,000
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Variable
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Principal & Interest
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Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Prime Home Loan
Details Close
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1.99% p.a.
1.99% p.a.
$1234
Product details Close detailsVariable Home Loan
Owner Occupier, Principal & Interest
1.99% p.a.
1.99% p.a.
Refinance only. Super-fast digital application process. Zero upfront fees. No on-going service fees. Free 100% offset sub account. Comes with Visa debit card and the ability to use digital wallets; Apple and Google Pay. 25% deposit required.
Variable Home Loan
Refinance only. Super-fast digital application process. Zero upfront fees. No on-going service fees. Free 100% offset sub account. Comes with Visa debit card and the ability to use digital wallets; Apple and Google Pay. 25% deposit required.
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1.99% p.a.
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1.99% p.a.
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$0
-
$0.00
-
$0.00
-
yes - free
-
yes - free
-
yes - offset sub account
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75.00%
-
$0
-
$100,000
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$2,500,000
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Variable
-
Principal & Interest
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Owner Occupier
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Monthly
-
Read our Mozo Review to learn more about the Variable Home Loan
Details Close
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2.94% p.a.
3.34% p.a.
$1234
Product details Close detailsDiscounted Variable Home Loan Premium Plus Package
Owner Occupier, Principal & Interest
2.94% p.a.
3.34% p.a.
Enjoy a great low rate with no ongoing fees. Ability to split your loan between fixed and variable. 100% offset account. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent.
Discounted Variable Home Loan Premium Plus Package
Enjoy a great low rate with no ongoing fees. Ability to split your loan between fixed and variable. 100% offset account. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent.
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2.94% p.a.
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3.34% p.a.
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$0
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$395.00 yearly
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$0.00
-
yes - free
-
yes - free
-
yes
-
80.00%
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$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 30 September 2021 and are funded by 30 November 2021, min $250k, LVR <80%
Read our Mozo Review to learn more about the Discounted Variable Home Loan
Details Close
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Mozo experts choice awards won:
- Low Cost Home Loan - 2021
1.99% p.a.
2.02% p.a.
$1234
Product details Close details Mozo experts choice awards won:
- Low Cost Home Loan - 2021
Variable Home Loan Special
Owner Occupier, Principal & Interest, LVR <70%
1.99% p.a.
2.02% p.a.
Special rate applies to home loan applications submitted by 31 October 2021. Unlimited additional repayments, free redraw, 100% offset account. 30% deposit required. Simple online application. Low Cost Home Loan winner in the Mozo Expert's Choice Awards for 2021.
Variable Home Loan Special
Special rate applies to home loan applications submitted by 31 October 2021. Unlimited additional repayments, free redraw, 100% offset account. 30% deposit required. Simple online application. Low Cost Home Loan winner in the Mozo Expert's Choice Awards for 2021.
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1.99% p.a.
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2.02% 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
-
$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 October 2021.
Read our Mozo Review to learn more about the Variable Home Loan Special
Details Close
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Mozo experts choice awards won:
- Offset Home Loan - 2021
1.99% p.a.
2.02% p.a.
$1234
Product details Close details Mozo experts choice awards won:
- Offset Home Loan - 2021
Well Balanced
Owner Occupier, Principal & Interest, LVR <80%
1.99% p.a.
2.02% p.a.
Low rate variable home loan with optional offset. Free online redraw. No valuation fee. Purchase, refinance or equity release purposes allowed. Offset Home Loan winner in the Mozo Expert's Choice Awards for 2021.
Well Balanced
Low rate variable home loan with optional offset. Free online redraw. No valuation fee. Purchase, refinance or equity release purposes allowed. Offset Home Loan winner in the Mozo Expert's Choice Awards for 2021.
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1.99% p.a.
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2.02% p.a.
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$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%
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$785
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$200,000
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$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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2.84% p.a.
2.89% p.a.
$1234
Product details Close detailsFirst Rate Home Loan
Owner Occupier, Principal & Interest, LVR<80%
2.84% p.a.
2.89% p.a.
This home loan from Bank First offers owner occupiers a competitive variable rate, plus a number of additional features. Enjoy flexible repayments, no ongoing fees and our low variable rate.
First Rate Home Loan
This home loan from Bank First offers owner occupiers a competitive variable rate, plus a number of additional features. Enjoy flexible repayments, no ongoing fees and our low variable rate.
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2.84% p.a.
-
2.89% p.a.
-
$700
-
$0.00
-
$395.00
-
yes - free
-
yes - free
-
no
-
80.00%
-
$700
-
$150,000
-
$1,000,000
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Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the First Rate Home Loan
Details Close
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2.39% p.a.
2.39% p.a.
$1234
Product details Close detailsBasic Home Loan
Owner Occupier, LVR<80%, Principal & Interest
2.39% p.a.
2.39% 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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2.39% p.a.
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2.39% p.a.
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$0
-
$0.00
-
$400.00
-
yes - free
-
yes - free
-
no
-
80.00%
-
$0
-
$150,000
-
$749,999
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Monthly
-
Read our Mozo Review to learn more about the Basic Home Loan
Details Close
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^See information about the Mozo Experts Choice Home loans Awards
