UBank joins 2.99% home loan party

Kirsty Lamont

16 Jun 2019

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Just when we thought home loan rates couldn't get any more competitive, popular online lender UBank has slashed its fixed rate UHomeLoan by up to 0.60% and debuted a jaw dropping new sub 3.00% rate. 

Since the Reserve Bank cut the official cash rate to a new historic low, challenger lenders have been racing to release ultra competitive variable and fixed home loan rates, but few have gone as low as the new 2.99% (4.09% comparison rate*) on offer from UBank for a 1 year fixed term.

While UBank is currently one of just a handful of lenders in the Mozo comparison database to offer home loan rates with a "2" in front, there are some incredible fixed deals on offer from a range of lenders for 1 to 3 year terms. Compare some of the top fixed rates on the market right now in the table below.

Top Fixed Home Loan Rates - rates updated daily

  • Promoted

    Bank of Queensland

    2.79% p.a.
    fixed 3 years

    3.67% p.a.

    $1234

    Product details Close details
    Discount Fixed Rate 300k+

    Minimum loan amount of $300k. 20% deposit needed. Free additional repayments up to $5,000 per year.

    • 2.79% p.a.
      fixed 3 years

    • 3.67% p.a.

    • $450

    • $10.00 monthly

    • $320.00

    • yes - free up to $5,000 p.a

    • no

    • no

    • 80.00%

    • $300,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Discount Fixed Rate 300k+

  • Promoted

    loans.com.au

    2.99% p.a.
    fixed 3 years

    3.27% p.a.

    $1234

    Product details Close details
    Fixed Rate Special Offer

    This 3 Year Fixed Rate Special Offer for purchase or refinance. Rate lock option available. No monthly or ongoing fees.

    • 2.99% p.a.
      fixed 3 years

    • 3.27% p.a.

    • $520

    • $0.00

    • $0.00

    • yes - free up to $10,000 p.a.

    • no

    • no

    • 80.00%

    • $50,000

    • $1,000,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

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

  • Promoted

    UBank

    2.84% p.a.
    fixed 3 years

    3.59% p.a.

    $1234

    Product details Close details
    Fixed UHomeLoan

    Fast, easy to apply and no monthly account fees.

    • 2.84% p.a.
      fixed 3 years

    • 3.59% p.a.

    • $395

    • $0.00

    • $0.00

    • yes - free up to $20,000 p.a.

    • no

    • no

    • 80.00%

    • $100,000

    • $2,000,000

    • Fixed

    • Principal & Interest

    • Investor

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Fixed UHomeLoan

  • Promoted

    Newcastle Permanent

    2.79% p.a.
    fixed 2 years

    4.02% p.a.

    $1234

    Product details Close details
    Fixed Rate Home Loan Premium Plus Package

    Available for new home buyers, refinancers and investors with a Loan to Value Ratio (LVR) of up to 95%. First home buyers receive $2,500 cash back on loans $250K and above. Cash back will be deposited to the borrower’s NPBS Everyday Account after settlement.

    • 2.79% p.a.
      fixed 2 years

    • 4.02% p.a.

    • $0

    • $395.00 yearly

    • $0.00

    • yes - free up to $25,000 p.a.

    • yes - free

    • no

    • 95.00%

    • $5,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • First Home Buyers can receive $2,500 for applications for loan amounts of $250,000 or more received before 30 April 2020 and settled by 30 June 2020 with a Newcastle Permanent Everyday Account.

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

  • Promoted

    loans.com.au

    3.79% p.a.
    fixed 3 years

    3.47% p.a.

    $1234

    Product details Close details
    Fixed Home Loan 90

    This home loan is available for purchase or refinance, complete with 1, 2 or 3 year fixed rate options. Minimum 10% deposit required.

    • 3.79% p.a.
      fixed 3 years

    • 3.47% p.a.

    • $520

    • $0.00

    • $0.00

    • yes - free up to $10,000 p.a.

    • no

    • no

    • 90.00%

    • $50,000

    • $1,000,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Fixed Home Loan 90

  • Promoted

    Bank of Queensland

    2.79% p.a.
    fixed 2 years

    3.75% p.a.

    $1234

    Product details Close details
    Discount Fixed Rate 300k+

    Minimum loan amount of $300k. 20% deposit needed. Free additional repayments up to $5,000 per year.

    • 2.79% p.a.
      fixed 2 years

    • 3.75% p.a.

    • $450

    • $10.00 monthly

    • $320.00

    • yes - free up to $5,000 p.a

    • no

    • no

    • 80.00%

    • $300,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Discount Fixed Rate 300k+

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for the amount and term you entered.

**Initial monthly repayment figures are estimates only, based on the advertised rate, and a loan of $500,000 repaid over 25 years. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

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