RBA cuts - three things you should've done by now!
20 Aug 2019
The RBA has been cutting rates for months now, and if you’ve done nothing about it, you could be out of pocket thousands of dollars.
With some of the lowest interest rate cuts on record, borrowers are in a frenzy deciding whether to make the switch to a better deal, or stick it out with their current provider.
So, if you’ve done nothing since the RBA began cutting rates, there’s no better time to start than now. Not sure where to begin? Put these three things on your to-do list and see how much you could save in the long run.
COMPARE
Research and compare the home loan rates available. Are you paying too much? Whilst many of the big four banks have also passed the interest rate cuts, there are still smaller lenders with great deals flying under the radar, that could be worth investigating. Check them out and calculate the savings you could make on the life of your loan. You might just be surprised at how much switching will save you.
Compare home loans here
RESCUE
Salvage your savings account! Along with RBA rate cuts, unfortunately comes a drop in savings account interest rates. If you want to make the most of your rainy day fund; find out what your current savings rate is and see what other better offers are out there. With interest rates varying over 1%, you could be racking up a lot more savings by making the switch. Perhaps, consider switching to a term deposit where rate cuts aren’t felt as hard as regular savings accounts.
Compare savings accounts here
CHECK
Check your credit card rate. Is the rate competitive enough against the competition? With the average credit card rate at a shockingly high 17%, it’s worth seeing what’s out there or if you can lower your interest rates with a balance transfer offer. If you’re into rewards, see what providers are offering and make the switch if you find something that gives you what you're looking for!
Low rate home loans August 2019
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. variable
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. variable
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. variable
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2.21% p.a.
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$520
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$0.00
-
$0.00
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yes - free
-
yes - free
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Optional - with 0.10% additional interest
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$520
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80.00%
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$50,000
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$1,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Smart Booster Home Loan
Details Close
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1.79% p.a.
fixed 1 year2.32% p.a.
$1234
Product details Close detailsUHomeLoan
Owner Occupier, Principal & Interest
1.79% p.a.
fixed 1 year2.32% p.a.
Fast, easy to apply and no ongoing fees. Choose between weekly, fortnightly or monthly repayments. 1 year fixed rates are for new Owner Occupier Principal & Interest loans.
UHomeLoan
Fast, easy to apply and no ongoing fees. Choose between weekly, fortnightly or monthly repayments. 1 year fixed rates are for new Owner Occupier Principal & Interest loans.
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1.79% p.a.
fixed 1 year -
2.32% p.a.
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$0
-
$0.00
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$0.00
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yes - free up to $20,000 during fixed rate term
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no
-
no
-
$0
-
80.00%
-
$100,000
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$2,000,000
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Fixed
-
Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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$395 Establishment fee waived for fixed rate loans that settle by 30 September 2021.
Read our Mozo Review to learn more about the UHomeLoan
Details Close
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2.09% p.a.
fixed 3 years2.32% p.a.
$1234
Product details Close detailsBasic Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR<70%
2.09% p.a.
fixed 3 years2.32% p.a.
No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.
Basic Home Loan
No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.
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2.09% p.a.
fixed 3 years -
2.32% p.a.
-
$0
-
$0.00
-
$400.00
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yes - free
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yes - free
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no
-
$0
-
70.00%
-
$150,000
-
$750,000
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Fixed
-
Principal & Interest
-
Owner Occupier
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Monthly
-
Read our Mozo Review to learn more about the Basic 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. variable
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. variable
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. variable
-
1.99% p.a.
-
$0
-
$0.00
-
$0.00
-
yes - free
-
yes - free
-
no
-
$0
-
60.00%
-
$100,000
-
$2,000,000
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Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Celebrate Variable Home Loan
Details Close
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1.99% p.a. variable
1.99% p.a.
$1234
Product details Close detailsVariable Home Loan
Owner Occupier, Principal & Interest
1.99% p.a. variable
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. variable
-
1.99% p.a.
-
$0
-
$0.00
-
$0.00
-
yes - free
-
yes - free
-
yes - offset sub account
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$0
-
75.00%
-
$100,000
-
$2,500,000
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Variable
-
Principal & Interest
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Owner Occupier
-
Monthly
-
Read our Mozo Review to learn more about the Variable Home Loan
Details Close
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-
Mozo experts choice awards won:
- Low Cost Home Loan - 2021
1.99% p.a. variable
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. variable
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. variable
-
2.02% p.a.
-
$849
-
$0.00
-
$500.00
-
yes - free
-
yes - free
-
Optional - $10 per month
-
$849
-
70.00%
-
$150,000
-
$1,500,000
-
Variable
-
Principal & Interest
-
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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Featured Product
2.44% p.a. variable
2.49% p.a.
$1234
Product details Close detailsPrime Home Loan
Owner Occupier, Principal & Interest, LVR <70%
2.44% p.a. variable
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. variable
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2.49% p.a.
-
$710
-
-
-
$250.00
-
yes - free
-
yes - free
-
no
-
$710
-
70.00%
-
$100,000
-
$1,250,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Prime Home Loan
Details Close
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1.87% p.a. variable
1.90% p.a.
$1234
Product details Close detailsEquity Plus
Owner Occupier, Principal & Interest, LVR <60%
1.87% p.a. variable
1.90% p.a.
Low rate variable home loan with optional offset. Free online redraw. No valuation fee. Purchase, refinance or equity release purposes allowed. Min 40% deposit.
Equity Plus
Low rate variable home loan with optional offset. Free online redraw. No valuation fee. Purchase, refinance or equity release purposes allowed. Min 40% deposit.
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1.87% p.a. variable
-
1.90% p.a.
-
$785
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$0.00
-
$300.00
-
yes - free
-
yes - free
-
yes
-
$785
-
60.00%
-
$200,000
-
-
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Equity Plus
Details Close
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1.84% p.a.
fixed 1 year2.63% p.a.
$1234
Product details Close detailsOwn Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR <60%
1.84% p.a.
fixed 1 year2.63% p.a.
Competitive fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.
Own Home Loan
Competitive fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.
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1.84% p.a.
fixed 1 year -
2.63% p.a.
-
$250
-
$250.00 yearly
-
$0.00
-
yes - free up to $20,000 per fixed rate term
-
yes - free
-
yes
-
$250
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60.00%
-
-
-
-
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
$2,000 cashback for eligible home loans of at least $250,000 with applications received by 30 September 2021 and settled before 31 November 2021.
Read our Mozo Review to learn more about the Own Home Loan
Details Close
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1.98% p.a.
fixed 2 years2.66% p.a.
$1234
Product details Close detailsSpecial Offer Reward Me Fixed Rate Home Loan
Owner Occupier, LVR <80%, 300k+
1.98% p.a.
fixed 2 years2.66% p.a.
Enjoy $3,000 cashback when you refinance with Virgin Money (T&Cs apply). Additional repayments up to $10,000 per annum. Reverts to the discounted variable rate on expiry of the fixed term.
Special Offer Reward Me Fixed Rate Home Loan
Enjoy $3,000 cashback when you refinance with Virgin Money (T&Cs apply). Additional repayments up to $10,000 per annum. Reverts to the discounted variable rate on expiry of the fixed term.
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1.98% p.a.
fixed 2 years -
2.66% p.a.
-
$450
-
$10.00 monthly
-
$350.00
-
yes - up to $10,000 per annum
-
no
-
no
-
$450
-
80.00%
-
$300,000
-
-
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
$3,000 cashback for new borrowings of at least $300,000, applications by 29 August 2021, settled by 26 November 2021.
Read our Mozo Review to learn more about the Special Offer Reward Me Fixed Rate Home Loan
Details Close
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^See information about the Mozo Experts Choice Home loans Awards
