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
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Promoted
loans.com.au
2.57% p.a. variable
2.59% p.a.
$1234
Product details Close detailsloans.com.au Smart Home Loan 80
Owner Occupier, Principal & Interest
2.57% p.a. variable
2.59% p.a.
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.^ 20% deposit required. Limited time only.
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.^ 20% deposit required. Limited time only.
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2.57% p.a. variable
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2.59% p.a.
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$520
-
$0.00
-
$0.00
-
yes - free
-
yes - free
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no
-
$520
-
80.00%
-
$50,000
-
$1,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Smart Home Loan 80
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Promoted
UBank 2.59% p.a. variable
2.59% p.a.
$1234
Product details Close detailsUBank UHomeLoan - Discount Offer
Owner Occupier, Principal & Interest
2.59% p.a. variable
2.59% p.a.
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.
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.
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2.59% p.a. variable
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2.59% p.a.
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$0
-
$0.00
-
$0.00
-
yes - free
-
yes - free
-
no
-
$0
-
80.00%
-
$200,000
-
-
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the UHomeLoan - Discount Offer
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Promoted
HSBC 2.09% p.a.
fixed 2 years2.98% p.a.
$1234
Product details Close detailsHSBC Fixed Rate Home Loan
Owner Occupier, Principal & Interest, LVR <80%
2.09% p.a.
fixed 2 years2.98% p.a.
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^
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^
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2.09% p.a.
fixed 2 years -
2.98% p.a.
-
$0
-
$0.00
-
$300.00
-
yes - free up to $10,000 p.a.
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no
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no
-
$0
-
80.00%
-
$50,000
-
$7,500,000
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Fixed Rate Home Loan
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Promoted
Suncorp2.29% p.a.
fixed 2 years3.32% p.a.
$1234
Product details Close detailsSuncorpFixed Home Loan Special Offer Home Package Plus
Owner Occupier, Principal & Interest
2.29% p.a.
fixed 2 years3.32% p.a.
No monthly account keeping fees & No loan establishment fee. Get a $2,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan of $250k+. T&Cs & eligibility criteria apply.
Fixed Home Loan Special Offer Home Package Plus
No monthly account keeping fees & No loan establishment fee. Get a $2,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan of $250k+. T&Cs & eligibility criteria apply.
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2.29% p.a.
fixed 2 years -
3.32% p.a.
-
$0
-
$375.00 yearly
-
$350.00
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yes - free up to $500 per month
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no
-
no
-
$0
-
90.00%
-
$150,000
-
-
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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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 30 September 2020 and settled by 29 December 2020.
Read our Mozo Review to learn more about the Fixed Home Loan Special Offer
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Promoted
Newcastle Permanent2.18% p.a.
fixed 2 years3.72% p.a.
$1234
Product details Close detailsNewcastle PermanentSpecial Fixed Rate Home Loan Premium Plus Package
Owner Occupier, Principal & Interest
2.18% p.a.
fixed 2 years3.72% p.a.
Enjoy a great low rate with no ongoing fees. Ability to split your loan between fixed and variable. 100% offset account. Extra repayments and redraw facility.
Special Fixed Rate 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. Extra repayments and redraw facility.
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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.
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yes - free
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no
-
$0
-
80.00%
-
$5,000
-
-
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Special Fixed Rate Home Loan
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Promoted
People's Choice Credit Union2.69% p.a. variable
2.69% p.a.
$1234
Product details Close detailsPeople's Choice Credit UnionBasic Variable Home Loan
LVR<80%, Owner Occupier, Principal and Interest, >$150k
2.69% p.a. variable
2.69% 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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2.69% p.a. variable
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2.69% p.a.
-
$0
-
$0.00
-
$350.00
-
yes - free
-
yes - free
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no
-
$0
-
80.00%
-
$150,000
-
-
-
Variable
-
Principal & Interest
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Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Basic Variable Home Loan
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Promoted
Hot Deal $2,500 cashback when you refinance your home loan to BOQ (T&Cs apply)
Bank of Queensland2.29% p.a.
fixed 2 years3.52% p.a.
$1234
Product details Close detailsBank of QueenslandDiscount Fixed Rate
Owner Occupier, Principal & Interest, <80% LVR
2.29% p.a.
fixed 2 years3.52% p.a.
Have the certainty of fixed repayments with a competitive rate from BOQ. Flexible repayment options available and make up to $5,000 in additional repayments annually. $2,500 cashback when you refinance your home loan to BOQ (min. $250k lending, max 70% LVR, T&Cs apply).
Discount Fixed Rate
Have the certainty of fixed repayments with a competitive rate from BOQ. Flexible repayment options available and make up to $5,000 in additional repayments annually. $2,500 cashback when you refinance your home loan to BOQ (min. $250k lending, max 70% LVR, T&Cs apply).
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2.29% p.a.
fixed 2 years -
3.52% p.a.
-
$450
-
$10.00 monthly
-
$350.00
-
yes - free up to $5,000 p.a
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no
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no
-
$450
-
80.00%
-
$150,000
-
-
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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$2,500 cashback when you refinance your home loan to BOQ, min $250,000, 70% LVR or less. Apply before 15 August 2020, settle by 31 October 2020.
Read our Mozo Review to learn more about the Discount Fixed Rate
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Promoted
Homestar 2.39% p.a. variable
2.39% p.a.
$1234
Product details Close detailsHomestar Star Essentials Home Loan
Owner Occupier, Principal & Interest
2.39% p.a. variable
2.39% p.a.
Low Cost Home Loan 2020 winner.^ Packed with essentials like free redraw and extra repayments. No ongoing fees. Borrow $150K+. No construction loans. Fee waiver special offer - ends 31st July 2020.
Star Essentials Home Loan
Low Cost Home Loan 2020 winner.^ Packed with essentials like free redraw and extra repayments. No ongoing fees. Borrow $150K+. No construction loans. Fee waiver special offer - ends 31st July 2020.
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2.39% p.a. variable
-
2.39% p.a.
-
$0
-
$0.00
-
$535.00
-
yes - free
-
yes - free
-
no
-
$0
-
80.00%
-
$150,000
-
$850,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Upfront fees waived up to $250 for valuation and up to $265 for legal documentation for applications received by 30 June 2020 and settled by 30 September 2020.
Read our Mozo Review to learn more about the Star Essentials Home Loan
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Promoted
Yard2.39% p.a. variable
2.42% p.a.
$1234
Product details Close detailsYardVariable Home Loan Winter Special
Owner Occupier, Principal & Interest
2.39% p.a. variable
2.42% p.a.
Yard’s low-rate variable winter 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 31 July 2020.
Variable Home Loan Winter Special
Yard’s low-rate variable winter 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 31 July 2020.
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2.39% p.a. variable
-
2.42% p.a.
-
$835
-
$0.00
-
$500.00
-
yes - free
-
yes - free
-
Optional - $10 per month
-
$835
-
80.00%
-
$150,000
-
$850,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Special rate applies to home loan applications submitted by 31 July 2020.
Read our Mozo Review to learn more about the Variable Home Loan Winter Special
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Promoted
Mozo2.29% p.a.
fixed 3 years3.89% p.a.
$1234
Product details Close detailsMozoMystery Bank Deal
2.29% p.a.
fixed 3 years3.89% p.a.
Big four bank deal: Available for loans up to $2,000,000 with a 20% deposit.
Mystery Bank Deal
Big four bank deal: Available for loans up to $2,000,000 with a 20% deposit.
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2.29% p.a.
fixed 3 years -
3.89% p.a.
-
$0
-
$395.00 yearly
-
$450.00
-
yes - free up to annual limit
-
no
-
no
-
$0
-
90.00%
-
$150,000
-
-
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
-
Want to compare more home loans? View the latest mortgage rates from over 80 lenders at Mozo's home loan comparison hub.
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