RBA rate cut: Is your lender naughty or nice?
03 Oct 2019
15+ lenders pass through October rate cut to home borrowers
UBank, Athena, Homestar and FreedomLend only lenders to pass on full cut
Big banks pocket billions with rate cut delay tactics
Online lenders UBank, Athena, Homestar and FreedomLend are on top of the rate cut nice list this month, moving with lightning speed to announce they are passing through the Reserve Bank's October rate cut in full.
By contrast, the Big 4 banks were the first to make the naughty list this month, and were quickly followed by other mainstream banks including St George, Bank of Melbourne, Bank SA, Bankwest and Suncorp in denying mortgage customers the full benefit of the RBA cut.
While not all online lenders have passed on the rate cut in full, they have been far more generous with their cuts than the banks and the switching savings on offer right now are eye opening. A typical owner occupier with a $300K home loan can now save close to $5,000 by switching to the best rate on the market.
Ready to take advantage of the latest cut to find a better deal? Start by comparing the latest ultra low rate home loans in the table below.
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. 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
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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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$520
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80.00%
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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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1.85% p.a.
fixed 3 years2.24% p.a.
$1234
Product details Close detailsUHomeLoan
Owner Occupier, Principal & Interest
1.85% p.a.
fixed 3 years2.24% p.a.
$0 fees and easy application. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.
UHomeLoan
$0 fees and easy application. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.
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1.85% p.a.
fixed 3 years -
2.24% 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 up to $20,000 during fixed rate term
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no
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no
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$0
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80.00%
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$100,000
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$2,000,000
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Fixed
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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.
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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
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$0
-
70.00%
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$150,000
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$750,000
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Fixed
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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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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
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1.99% 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
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$0
-
60.00%
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$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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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
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1.99% 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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yes - offset sub account
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$0
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75.00%
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$100,000
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$2,500,000
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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 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 July 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 July 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
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2.02% p.a.
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$849
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$0.00
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$500.00
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yes - free
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yes - free
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Optional - $10 per month
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$849
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70.00%
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$150,000
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$1,500,000
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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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Special rate applies to home loan applications submitted by 31 July 2021.
Read our Mozo Review to learn more about the Variable Home Loan Special
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.
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$250
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$250.00 yearly
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$0.00
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yes - free up to $20,000 per fixed rate term
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yes - free
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yes
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$250
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60.00%
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-
-
-
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Fixed
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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 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.
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$450
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$10.00 monthly
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$350.00
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yes - up to $10,000 per annum
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no
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no
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$450
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80.00%
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$300,000
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-
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Fixed
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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$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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Hot Deal $3,000 cashback offer when you refinance your home loan to BOQ. To qualify, apply by 29 August 2021, T&Cs apply.
Mozo experts choice awards won:
- Fixed Rate Home Loan - 2021
1.89% p.a.
fixed 2 years3.05% p.a.
$1234
Product details Close details Mozo experts choice awards won:
- Fixed Rate Home Loan - 2021
Discount Fixed Rate
Owner Occupier, Principal & Interest, <80% LVR
1.89% p.a.
fixed 2 years3.05% p.a.
Lock in a competitive rate for 2 years. Only 20% deposit required. Flexible repayment options and make up to $5,000 in additional repayments annually. Refinance to BOQ by 29 August, 2021 and get $3,000 cashback(T&Cs apply).
Discount Fixed Rate
Lock in a competitive rate for 2 years. Only 20% deposit required. Flexible repayment options and make up to $5,000 in additional repayments annually. Refinance to BOQ by 29 August, 2021 and get $3,000 cashback(T&Cs apply).
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1.89% p.a.
fixed 2 years -
3.05% p.a.
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$450
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$10.00 monthly
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$350.00
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yes - free up to $5,000 p.a
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no
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no
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$450
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80.00%
-
$150,000
-
-
-
Fixed
-
Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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$3,000 refinance cashback, min $250,000, 80% LVR or less. Apply before 29 August 2021, settle by 26 November 2021.
Read our Mozo Review to learn more about the Discount Fixed Rate
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
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1.90% p.a.
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$785
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$0.00
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$300.00
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yes - free
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yes - free
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yes
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$785
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60.00%
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$200,000
-
-
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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 Equity Plus
Details Close
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^See information about the Mozo Experts Choice Home loans Awards
Want to compare more home loans? View the latest mortgage rates from over 80 lenders at Mozo's home loan comparison hub.
