This week in banking - RBA, HSBC Everyday Extras, and the best travel insurance of 2019

By Mozo Editorial · · 2 min read
Fact Checked
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In this week’s banking recap, we revisit the RBA’s August decision, plus turn our attention to travel insurance in light of the latest round of Mozo Experts Choice Awards.

RBA holds the cash rate at 1.00%

After two consecutive cuts in June and July, the Reserve Bank decided to take a breather and keep the cash rate unchanged this August, with RBA Governor Philip Lowe saying he expects conditions in the economy to pick up in the near future.

“The outlook is being supported by the low level of interest rates, recent tax cuts, ongoing spending on infrastructure, signs of stabilisation in some housing markets and a brighter outlook for the resources sector,” he said.

Best travel insurance policies revealed

Travel insurance might not be too high on your list of priorities ahead of a holiday, but that doesn’t mean you should ignore it. To make picking the right policy easy, we’ve compiled the best of the best in this year’s Mozo Experts Choice Travel Insurance Awards.

World2Cover was named our Travel Insurance Provider of the Year, marking the second year in a row it’s taken out the top spot. But all the other winners are well worth a look. Whether you plan to board a cruise or make your way down the ski slopes, you’re sure to find a policy that suits you. 

Reap the rewards with HSBC’s Everyday Extras

HSBC has launched Everyday Extras, a nifty little feature which could see savers rewarded each time they spend.

Customers who deposit at least $2,000 a month into their HSBC Everyday Global Account will receive 2% cashback on purchases up to $100, so long as they use payWave, Apple Pay or Google Pay.

“Australians love rewards, but most rewards programs rely on offering the chance to earn points, which can be complicated or time-consuming to redeem. We wanted to offer customers a more immediate benefit,” said Jessica Power, HSBC Australia’s Head of Retail Banking and Wealth Management.

Wholesale demand response: a potential remedy to energy woes

This Tuesday, the Australian Energy Market Commission (AEMC) heard a proposal to introduce a ‘wholesale demand response’ in the Australian energy market. Such a mechanism would reward customers for responsible energy habits with cash or credit, which can go towards further lowering their bills.

ME lowers fixed rates to lowest in its history

The cuts to fixed rates continue to pile up, with ME the latest to join the party. Headlining the latest round of changes is its 3-year Flexible Home Loan Member Package, which saw a massive 0.40% reduction. The new 3.18% p.a. fixed rate (3.87% p.a. comparison rate*) marks the lowest rate ever offered by the bank.

If you’re on the lookout for a quality home loan, be sure to visit our home loan comparison page, or have a browse of the options below.

Last updated 29 May 2025 Important disclosures and comparison rate warning*
What are your home loan needs?
Loan purpose
Buying or Refinancing
  • Promoted

    Unloan Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.49 % p.a.
    Variable
    Comparison rate
    5.40 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • RATE CUT NOW LIVE!
    • The first home loan with an increasing discount (conditions apply)
    • No application or banking fees
  • Promoted

    Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 10% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.78 % p.a.
    Variable
    Comparison rate
    5.82 % p.a.
    Initial monthly repayment
    $2,927
    Go to site
    • NRMA Home Loans has confirmed a rate cut of 0.25% p.a. effective 6 June
    • $0 application fee to pay
    • Apply in as little as 15 minutes
  • Promoted

    Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.56 % p.a.
    Variable
    Comparison rate
    5.57 % p.a.
    Initial monthly repayment
    $2,858
    Go to site
    • Offset and non-offset options for flexible payments
    • No application and monthly account keeping fees
    • Get up to $4,000 cashback (T&Cs apply)
  • Promoted

    Fixed Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 10% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.74 % p.a.
    Fixed 2 years
    Comparison rate
    5.81 % p.a.
    Initial monthly repayment
    $2,915
    Go to site
    • $0 application fee to pay
    • Additional repayments up to $20,000/year
    • Apply in as little as 15 minutes

  • Unloan Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.49 % p.a.
    Variable
    Comparison rate
    5.40 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • RATE CUT NOW LIVE!
    • The first home loan with an increasing discount (conditions apply)
    • No application or banking fees

  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    Interest rate
    5.49 % p.a.
    Fixed 2 years
    Comparison rate
    5.91 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • No ongoing annual fees
    • Make up to $25,000 extra repayments during a fixed period, fee free (T&Cs apply)
    • Lock in for up to 5 years.

  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • Interest only
    • 20% min deposit
    Interest rate
    5.49 % p.a.
    Fixed 2 years
    Comparison rate
    5.96 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • Free extra repayments of up to $25,000 during the fixed rate period.
    • Split loan available
    • Weekly, fortnightly, or monthly repayment options

  • Flex Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.53 % p.a.
    Fixed 2 years
    Comparison rate
    5.86 % p.a.
    Initial monthly repayment
    $2,848
    Go to site
    • Multiple offset accounts available
    • Free extra repayments
    • Easy redraw facility

  • Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.56 % p.a.
    Variable
    Comparison rate
    5.57 % p.a.
    Initial monthly repayment
    $2,858
    Go to site
    • Offset and non-offset options for flexible payments
    • No application and monthly account keeping fees
    • Get up to $4,000 cashback (T&Cs apply)

  • Neat Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.64 % p.a.
    Variable
    Comparison rate
    5.66 % p.a.
    Initial monthly repayment
    $2,883
    Go to site
    • RATE CUT NOW LIVE!
    • Easy redraw facility
    • No annual fee to pay

  • Flex Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.64 % p.a.
    Variable
    Comparison rate
    5.89 % p.a.
    Initial monthly repayment
    $2,883
    Go to site
    • RATE CUT NOW LIVE!
    • Free extra repayments
    • Multiple offset accounts available

  • Fixed Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    • Redraw available
    • Cashback
    Interest rate
    5.69 % p.a.
    Fixed 2 years
    Comparison rate
    6.00 % p.a.
    Initial monthly repayment
    $2,899
    Go to site
    • Get up to $4,000 cashback (T&Cs apply)
    • Up to 12 months repayments in advance without penalties
    • Split loan available

  • OMG Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.74 % p.a.
    Variable
    Comparison rate
    5.77 % p.a.
    Initial monthly repayment
    $2,915
    Go to site
    • BCU Bank has confirmed a rate cut of 0.25% p.a. effective 10 June
    • No ongoing annual fees
    • Pre-approval valid for 3 months

  • Fixed Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 10% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.74 % p.a.
    Fixed 2 years
    Comparison rate
    5.81 % p.a.
    Initial monthly repayment
    $2,915
    Go to site
    • $0 application fee to pay
    • Additional repayments up to $20,000/year
    • Apply in as little as 15 minutes

  • Home Loan with Offset

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.77 % p.a.
    Variable
    Comparison rate
    5.78 % p.a.
    Initial monthly repayment
    $2,924
    Go to site
    • Offset and non-offset options for flexible payments
    • No application and monthly account keeping fees
    • Get up to $4,000 cashback (T&Cs apply)

  • Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 10% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.78 % p.a.
    Variable
    Comparison rate
    5.82 % p.a.
    Initial monthly repayment
    $2,927
    Go to site
    • NRMA Home Loans has confirmed a rate cut of 0.25% p.a. effective 6 June
    • $0 application fee to pay
    • Apply in as little as 15 minutes

  • Budget Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    • Cashback
    Interest rate
    5.79 % p.a.
    Variable
    Comparison rate
    5.82 % p.a.
    Initial monthly repayment
    $2,931
    Go to site
    • IMB Bank has confirmed a rate cut of 0.25% p.a. effective 30 May
    • Get up to $4,000 cashback (T&Cs apply)
    • Split loan available

  • Variable Home Loan 90

    • Owner occupier
    • Principal & Interest
    • 10% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.79 % p.a.
    Variable
    Comparison rate
    5.83 % p.a.
    Initial monthly repayment
    $2,931
    Go to site
    • Loans.com.au has confirmed a rate cut of 0.25% p.a. effective 3 June
    • No monthly or ongoing fees
    • Option to add an offset for 0.10% p.a.

  • Basic Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.88 % p.a.
    Variable
    Comparison rate
    5.91 % p.a.
    Initial monthly repayment
    $2,959
    Go to site
    • P&N Bank has confirmed a rate cut of 0.25% p.a. effective 10 June
    • No ongoing monthly loan maintenance fees
    • Weekly, fortnightly, or monthly repayment options

  • Offset Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.89 % p.a.
    Variable
    Comparison rate
    5.92 % p.a.
    Initial monthly repayment
    $2,962
    Go to site
    • BCU Bank has confirmed a rate cut of 0.25% p.a. effective 10 June
    • No ongoing monthly loan maintenance fees to pay.
    • Pre-approval valid for 3 months
Showing 16 results from 417 home loans. Use the filters to see more

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* 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 $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. 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.

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.