Naughty or nice: Has your lender passed on the RBA rate cut?

Kirsty Lamont

03 Jul 2019

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  • 10 lenders pass through July rate cut to home borrowers

  • ANZ, Athena, Homestar and State Custodians only lenders to pass on full cut

  • Big banks pocket billions with rate cut delay tactics

ANZ, Athena, Homestar and State Custodians are leading the RBA rate cut nice list this month, being first out of the blocks to announce they are passing through the Reserve Bank's July rate cut in full.  

On the naughty end of the list, CommBank, NAB, Westpac, St George, ING and Macquarie Bank are amongst the lenders set to anger mortgage customers by holding back part of the cut. Another 68 lenders are yet to announce their rate cut plans, leaving borrowers in the dark.

Only Athena, Homestar and Reduce have cut rates effective immediately, taking their variable rates to 3.09%, 2.99%, and 2.89%  respectively and offering refinancers a compelling opportunity to switch and save while other lenders drag their heels.

Ready to take advantage of the latest rate cut to find a better deal? Start by comparing the latest ultra low rate loans in the table below.

The latest low rate home loan offers

Rates updated daily. Advertiser disclosure.

  • loans.com.au

    2.48% p.a. variable

    2.50% p.a.

    $1234

    Product details Close details
    Smart Home Loan 80

    A low-rate home loan that could save you thousands, with no ongoing fees plus unlimited extra repayments and free redraws. Mozo Experts Choice Low Cost Home Loan 2020.^ You'll need to be borrowing $1 million or less and have at least a 20% deposit required.

    • 2.48% p.a. variable

    • 2.50% p.a.

    • $520

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • Optional - with 0.10% additional interest

    • $520

    • 80.00%

    • $50,000

    • $1,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Smart Home Loan 80

  • HSBC

    2.09% p.a.
    fixed 2 years

    2.98% p.a.

    $1234

    Product details Close details
    Fixed Rate Home Loan

    Have the security of a fixed rate for 2 years with the option to split with one of the HSBC variable Home Loans. No ongoing monthly service fees or annual fees. Mozo Experts Choice Fixed Home Loan 2020^

    • 2.09% p.a.
      fixed 2 years

    • 2.98% p.a.

    • $0

    • $0.00

    • $300.00

    • yes - free up to $10,000 p.a.

    • no

    • no

    • $0

    • 80.00%

    • $50,000

    • $7,500,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Fixed Rate Home Loan

  • Athena

    2.34% p.a. variable

    2.34% p.a.

    $1234

    Product details Close details
    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.^

    • 2.34% p.a. variable

    • 2.34% p.a.

    • $0

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • no

    • $0

    • 60.00%

    • $100,000

    • $2,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Celebrate Variable Home Loan

  • UBank

    2.49% p.a. variable

    2.49% p.a.

    $1234

    Product details Close details
    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.

    • 2.49% p.a. variable

    • 2.49% p.a.

    • $0

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • no

    • $0

    • 80.00%

    • $100,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the UHomeLoan - Discount Offer

  • Hot Deal $2,000 Refinance Cash Bonus (T&Cs apply)

    Suncorp

    2.68% p.a. variable

    2.69% p.a.

    $1234

    Product details Close details
    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. Get a $2,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan of $250k+. T&Cs & eligibility criteria apply.

    • 2.68% p.a. variable

    • 2.69% p.a.

    • $0

    • $0.00

    • $350.00

    • Yes - free

    • yes - free

    • no

    • $0

    • 80.00%

    • $150,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • Refinance from another lender to receive a $2,000 cash bonus for loans of at least $250,000 or $3,000 bonus for loans over $750,000. Available for loans with an LVR <90% and applications made by 18 December 2020 and settled by 26 March 2021.

    Read our Mozo Review to learn more about the Back to Basics Special

  • Hot Deal $3,000 cashback when you refinance your home loan to BOQ (T&Cs apply)

    Bank of Queensland

    2.64% p.a. variable

    2.81% p.a.

    $1234

    Product details Close details
    Economy 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 80%.

    • 2.64% p.a. variable

    • 2.81% p.a.

    • $450

    • $10.00 monthly

    • $350.00

    • yes - free

    • yes

    • no

    • $450

    • 80.00%

    • $150,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $3,000 cashback when you refinance your home loan to BOQ, min $250,000, 80% LVR or less. Apply before 29 November 2020, settle by 28 February 2021.

    Read our Mozo Review to learn more about the Economy Home Loan

  • IMB Bank

    2.61% p.a. variable

    2.67% p.a.

    $1234

    Product details Close details
    Budget Home Loan

    Competitve low interest rate for owner-occupiers with at least a 20% deposit, and no upfront fees. Free extra repayments and redraw. Zero ongoing fees.

    • 2.61% p.a. variable

    • 2.67% p.a.

    • $773

    • $0.00

    • $350.00

    • yes - free

    • yes - free

    • no

    • $773

    • 80.00%

    • $75,000

    • $5,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Budget Home Loan

  • AMP Bank

    2.59% p.a. variable

    3.00% p.a.

    $1234

    Product details Close details
    Professional Package Variable Rate Home Loan Professional Package

    Enjoy a variable rate with the AMP Bank Professional Package Home Loan. 100% offset accounts available with full transaction access. Handy redraw facility available upon request. Minimum 20% deposit required. Other rates available for interest only option. Pre-qualify today.

    • 2.59% p.a. variable

    • 3.00% p.a.

    • $295

    • $349.00 yearly

    • $350.00

    • yes - free

    • yes

    • yes

    • $295

    • 80.00%

    • $100,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Professional Package Variable Rate Home Loan

  • Newcastle Permanent

    2.18% p.a.
    fixed 2 years

    3.72% p.a.

    $1234

    Product details Close details
    Special Fixed Rate Home Loan Premium Plus Package

    No ongoing fees. Ability to split your loan between fixed and variable. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Limited time offer, T&Cs apply.

    • 2.18% p.a.
      fixed 2 years

    • 3.72% p.a.

    • $0

    • $395.00 yearly

    • $0.00

    • yes - free up to $25,000 p.a.

    • yes - free

    • no

    • $0

    • 80.00%

    • $5,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $2,000 cashback when you refinance your home loan from another financial institution when you apply by 30 November 2020, min $250k, LVR <80%

    Read our Mozo Review to learn more about the Special Fixed Rate Home Loan

  • Hot Deal Special rate applies to home loan applications submitted by 30th November 2020

    Yard

    2.19% p.a. variable

    2.22% p.a.

    $1234

    Product details Close details
    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 30th November 2020.

    • 2.19% p.a. variable

    • 2.22% p.a.

    • $835

    • $0.00

    • $500.00

    • yes - free

    • yes - free

    • Optional - $10 per month

    • $835

    • 70.00%

    • $150,000

    • $1,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • Special rate applies to home loan applications submitted by 30 November 2020.

    Read our Mozo Review to learn more about the Variable Home Loan Special

^See information about the Mozo Experts Choice Home loans Awards

Want to compare more home loans? Head to the Mozo home loan comparison hub to compare 500 home loans from 80+ lenders.