RBA cuts interest rates to 0.50% in March, so how will your bank respond?
Official interest rates in Australia now sit at a historic low of 0.50% following the Reserve Bank’s decision to cut 25 basis points at its October meeting in Sydney this afternoon.
"The coronavirus has clouded the near-term outlook for the global economy and means that global growth in the first half of 2020 will be lower than earlier expected," said RBA Governor, Philip Lowe, in his post-meeting statement.
Only a few weeks ago, financial markets were doubtful that the RBA would pull the lever, but since the reality of the virus outbreak set in - and share markets around the world recorded their steepest declines since the global financial crisis - they’ve been singing a different tune.
“I think that if the share market hadn’t continued sliding and if there had been a bit of a line drawn under it, we would have seen the board hold off until April. But there seems to be an unstoppable direction shift, and the RBA can no longer ignore it,” said Mozo’s banking expert, Peter Marshall.
Will lenders respond with home loan rate cuts?
Now that the RBA has cut the cash rate, all eyes will be on banks and lenders to see how they’ll respond.
“There’s a lot of competition in the home loan space so they’ve got to price their rates as sharply as they can, but on the other hand we’re already in the zone where it becomes difficult for a bank to maintain its profitability,” said Marshall.
When the RBA last cut the cash rate in October 2019, lenders passed on an average of 0.15%. Only a handful - Athena, Homestar, UBank and Freedomlend - passed on the full cut, with the first three the only lenders to do so on all three occasions last year.
Whatever the case this time round, the average mortgage holder stands to see a meaningful reduction in their home loan repayments. We’ll be keeping track of all the latest rate changes as they come in, so make sure you check in periodically for news of your lender’s decision.
March rate cut decisions
With interest rates set to drop left and right, mortgage holders would do well to shop around to make sure they’re getting the best rate. If you’re unsure where to start, be sure to visit Mozo’s dedicated home loan comparison tables for an overview of what's available.
Read last month's Reserve Bank interest rates update.
Home loan comparisons on Mozo
Promoted
-
Fixed Express Home Loan
- Owner Occupier
- Principal & Interest
- Interest rate
-
5.54
%
p.a.
Fixed 2 years
- Comparison rate
-
6.11
%
p.a.
- Initial monthly repayment
-
$2,852
Lock in a low 2 year fixed rate with the Mozo award winning Home Lender of the Year. Available for live-in borrowers with just a 10% deposit required. Free extra repayments (up to 20% in fixed period), free redraw and partial offset available. $10 monthly service fee. Aussie support centre. Fast approvals. Up to 6 free offset accounts (T&Cs apply).
- Interest rate
-
1 year - 5.84% p.a. (6.19% p.a.*)
2 years - 5.54% p.a. (6.11% p.a.*)
3 years - 6.04% p.a. (6.21% p.a.*)
4 years - 6.04% p.a. (6.20% p.a.*)
5 years - 6.04% p.a. (6.20% p.a.*)
- Fixed loan revert rate
-
6.09% p.a.
- Upfront fees
-
$134
- Ongoing fees
-
$10.00 monthly
- Discharge fee
-
$350.00
- Package
-
- Maximum loan to value ratio
- 90.00%
- Minimum borrowing amount
- $5,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Extra repayments
- yes - up to 20% during the fixed period
- Redraw facility
- yes - free
- Minimum redraw amount
- $0.00
- Offset account
- yes - partial only
- Split account
- no
- Other restrictions
- Electronic Valuation: $134. Full Valuation <$1m: $220 and>$1m: $440. Loan applicable when buying or refinancing an established property in a capital city or major regional centre.
- Other benefits
- -
- Special offers
- -
Read reviews and learn more about Bendigo Bank home loans
Go to site -
Unloan Variable
- Owner Occupier
- LVR <80%
- Interest rate
-
5.99
%
p.a.
Variable
- Comparison rate
-
5.90
%
p.a.
- Initial monthly repayment
-
$2,995
Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
- Interest rate
-
5.99% p.a. (5.90% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$0
- Ongoing fees
-
$0.00
- Discharge fee
-
$0.00
- Package
-
- Maximum loan to value ratio
- 80.00%
- Minimum borrowing amount
- $10,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Minimum redraw amount
- -
- Offset account
- no
- Split account
- no
- Other restrictions
- -
- Other benefits
- Rate discounted by 0.01% p.a. every year up to a maximum discount of 0.30% p.a..
- Special offers
- -
Read reviews and learn more about Unloan home loans
Go to site
-
Fixed Express Home Loan
- Owner Occupier
- Principal & Interest
- Interest rate
-
5.54
%
p.a.
Fixed 2 years
- Comparison rate
-
6.11
%
p.a.
- Initial monthly repayment
-
$2,852
Lock in a low 2 year fixed rate with the Mozo award winning Home Lender of the Year. Available for live-in borrowers with just a 10% deposit required. Free extra repayments (up to 20% in fixed period), free redraw and partial offset available. $10 monthly service fee. Aussie support centre. Fast approvals. Up to 6 free offset accounts (T&Cs apply).
- Interest rate
-
1 year - 5.84% p.a. (6.19% p.a.*)
2 years - 5.54% p.a. (6.11% p.a.*)
3 years - 6.04% p.a. (6.21% p.a.*)
4 years - 6.04% p.a. (6.20% p.a.*)
5 years - 6.04% p.a. (6.20% p.a.*)
- Fixed loan revert rate
-
6.09% p.a.
- Upfront fees
-
$134
- Ongoing fees
-
$10.00 monthly
- Discharge fee
-
$350.00
- Package
-
- Maximum loan to value ratio
- 90.00%
- Minimum borrowing amount
- $5,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Extra repayments
- yes - up to 20% during the fixed period
- Redraw facility
- yes - free
- Minimum redraw amount
- $0.00
- Offset account
- yes - partial only
- Split account
- no
- Other restrictions
- Electronic Valuation: $134. Full Valuation <$1m: $220 and>$1m: $440. Loan applicable when buying or refinancing an established property in a capital city or major regional centre.
- Other benefits
- -
- Special offers
- -
Read reviews and learn more about Bendigo Bank home loans
Go to site -
Fixed Rate Home Loan
- Owner Occupier
- Principal & Interest
- LVR <60%
- Interest rate
-
5.59
%
p.a.
Fixed 5 years
- Comparison rate
-
6.27
%
p.a.
- Initial monthly repayment
-
$2,867
Get repayment certainty with HSBC’s low 2 Year Fixed Rate Home Loan. Make up to $10,000 of extra repayments a year. The option to split your home loan between fixed and variable. Plus, score $3,288 cashback when you refinance an existing home loan of $250,000. Must apply by 28 February 2023 and settle by 30 April 2023.
- Interest rate
-
1 year - 5.79% p.a. (6.47% p.a.*)
2 years - 5.59% p.a. (6.40% p.a.*)
3 years - 5.59% p.a. (6.35% p.a.*)
4 years - 5.59% p.a. (6.31% p.a.*)
5 years - 5.59% p.a. (6.27% p.a.*)
- Fixed loan revert rate
-
6.14% p.a.
- Upfront fees
-
$0
- Ongoing fees
-
$390.00 yearly
- Discharge fee
-
$300.00
- Package
-
Home Loan Package
- Maximum loan to value ratio
- 60.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $7,500,000
- Type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Extra repayments
- yes - free up to $10,000 p.a.
- Redraw facility
- no
- Minimum redraw amount
- -
- Offset account
- no
- Split account
- yes
- Other restrictions
- -
- Other benefits
- -
- Special offers
- -
Read reviews and learn more about HSBC home loans
-
Basic Home Loan
- Fixed
- Owner Occupier
- Principal & Interest
- LVR<70%
- Interest rate
-
5.69
%
p.a.
Fixed 5 years
- Comparison rate
-
5.97
%
p.a.
- Initial monthly repayment
-
$2,899
No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $10,000,000.
- Interest rate
-
1 year - 5.85% p.a. (6.14% p.a.*)
2 years - 5.69% p.a. (6.08% p.a.*)
3 years - 5.69% p.a. (6.04% p.a.*)
4 years - 5.69% p.a. (6.00% p.a.*)
5 years - 5.69% p.a. (5.97% p.a.*)
- Fixed loan revert rate
-
6.14% p.a.
- Upfront fees
-
$350
- Ongoing fees
-
$0.00
- Discharge fee
-
$400.00
- Package
-
- Maximum loan to value ratio
- 70.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Extra repayments
- yes - up to $10,000 p.a.
- Redraw facility
- yes - free
- Minimum redraw amount
- -
- Offset account
- no
- Split account
- yes
- Other restrictions
- -
- Other benefits
- -
- Special offers
- -
Read reviews and learn more about Macquarie home loans
Go to site -
Offset Home Loan
- Fixed
- Owner Occupier
- Principal & Interest
- LVR <70%
- Interest rate
-
5.69
%
p.a.
Fixed 4 years
- Comparison rate
-
6.23
%
p.a.
- Initial monthly repayment
-
$2,899
Convenient offset account. No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $10,000,000.
- Interest rate
-
1 year - 5.85% p.a. (6.36% p.a.*)
2 years - 5.69% p.a. (6.30% p.a.*)
3 years - 5.69% p.a. (6.26% p.a.*)
4 years - 5.69% p.a. (6.23% p.a.*)
5 years - 5.89% p.a. (6.20% p.a.*)
- Fixed loan revert rate
-
6.14% p.a.
- Upfront fees
-
$350
- Ongoing fees
-
$248.00 yearly
- Discharge fee
-
$400.00
- Package
-
Package
- Maximum loan to value ratio
- 70.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Extra repayments
- yes - up to $10,000 p.a.
- Redraw facility
- yes - free
- Minimum redraw amount
- -
- Offset account
- yes
- Split account
- yes
- Other restrictions
- -
- Other benefits
- -
- Special offers
- -
Read reviews and learn more about Macquarie home loans
Go to site -
Fixed Home Loan
- Owner Occupier
- Principal & Interest
- LVR <95%
- Interest rate
-
5.69
%
p.a.
Fixed 3 years
- Comparison rate
-
6.28
%
p.a.
- Initial monthly repayment
-
$2,899
Get the security of a competitive fixed rate home loan for 2 years with IMB. Get up to $4,000 cashback (T&Cs apply). Up to 12 months repayments in advance without penalties. Free Internet and Mobile Banking redraws (T&Cs apply). Up to a 30 year loan term. Split loan available. No offset account.
- Interest rate
-
1 year - 6.19% p.a. (6.45% p.a.*)
2 years - 5.69% p.a. (6.34% p.a.*)
3 years - 5.69% p.a. (6.28% p.a.*)
4 years - 5.89% p.a. (6.30% p.a.*)
5 years - 5.89% p.a. (6.27% p.a.*)
- Fixed loan revert rate
-
6.34% p.a.
- Upfront fees
-
$799
- Ongoing fees
-
$6.00 monthly
- Discharge fee
-
$350.00
- Package
-
- Maximum loan to value ratio
- 95.00%
- Minimum borrowing amount
- $10,000
- Maximum borrowing amount
- $5,000,000
- Type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Extra repayments
- yes - free up to 1 year in advance
- Redraw facility
- yes - free
- Minimum redraw amount
- $500.00
- Offset account
- no
- Split account
- yes
- Other restrictions
- Monthly fee only applies to fixed period of loan.
- Other benefits
- -
- Special offers
- $4,000 cashback for loans $750,000 and above with a maximum LVR of 80%, settled within 90 days of application for refinancers or 180 for purchase loans. $3,000 for loans between $500k and $749k, $2,000 for loans between $250k and $499k.
Read reviews and learn more about IMB Bank home loans
Go to site -
Fixed Home Loan
- Owner Occupier
- Principal & Interest
- LVR <95%
- Interest rate
-
5.69
%
p.a.
Fixed 3 years
- Comparison rate
-
6.28
%
p.a.
- Initial monthly repayment
-
$2,899
Get the security of a competitive fixed rate home loan for 2 years with IMB. Get up to $4,000 cashback (T&Cs apply). Up to 12 months repayments in advance without penalties. Free Internet and Mobile Banking redraws (T&Cs apply). Up to a 30 year loan term. Split loan available. No offset account.
- Interest rate
-
1 year - 6.19% p.a. (6.45% p.a.*)
2 years - 5.69% p.a. (6.34% p.a.*)
3 years - 5.69% p.a. (6.28% p.a.*)
4 years - 5.89% p.a. (6.30% p.a.*)
5 years - 5.89% p.a. (6.27% p.a.*)
- Fixed loan revert rate
-
6.34% p.a.
- Upfront fees
-
$799
- Ongoing fees
-
$6.00 monthly
- Discharge fee
-
$350.00
- Package
-
- Maximum loan to value ratio
- 95.00%
- Minimum borrowing amount
- $10,000
- Maximum borrowing amount
- $5,000,000
- Type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Extra repayments
- yes - free up to 1 year in advance
- Redraw facility
- yes - free
- Minimum redraw amount
- $500.00
- Offset account
- no
- Split account
- yes
- Other restrictions
- Monthly fee only applies to fixed period of loan.
- Other benefits
- -
- Special offers
- $4,000 cashback for loans $750,000 and above with a maximum LVR of 80%, settled within 90 days of application for refinancers or 180 for purchase loans. $3,000 for loans between $500k and $749k, $2,000 for loans between $250k and $499k.
Read reviews and learn more about IMB Bank home loans
Go to site -
Fixed Rate
- Owner Occupier
- Principal & Interest
- <80% LVR
- Interest rate
-
5.74
%
p.a.
Fixed 3 years
- Comparison rate
-
6.81
%
p.a.
- Initial monthly repayment
-
$2,915
Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.
- Interest rate
-
1 year - 6.14% p.a. (7.13% p.a.*)
2 years - 5.74% p.a. (6.94% p.a.*)
3 years - 5.74% p.a. (6.81% p.a.*)
4 years - 5.89% p.a. (6.75% p.a.*)
5 years - 5.99% p.a. (6.69% p.a.*)
- Fixed loan revert rate
-
7.24% p.a.
- Upfront fees
-
$160
- Ongoing fees
-
$0.00
- Discharge fee
-
$160.00
- Package
-
- Maximum loan to value ratio
- 80.00%
- Minimum borrowing amount
- $20,000
- Maximum borrowing amount
- -
- Type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Extra repayments
- yes - free up to to lesser of 5% of original fixed loan amount, or $5,000 each year
- Redraw facility
- no
- Minimum redraw amount
- -
- Offset account
- Optional - $10 per month - 1 year fixed term only
- Split account
- yes
- Other restrictions
- -
- Other benefits
- No monthly fee after end of fixed rate term. Lock your fixed rate for 90 days for a fee of $750 per $1m in lending (or part thereof).
- Special offers
- $3,000 cashback for eligible First Home Buyers borrowing $250k+, $2,000 cashback when you refinance loans of $250k+, <80% LVR, settle within 180 days for first home buyers, 120 days for refinances. Excludes refinances from ANZ, ANZ Plus and Suncorp.
Read reviews and learn more about ANZ home loans
-
Unloan Variable
- Owner Occupier
- LVR <80%
- Interest rate
-
5.99
%
p.a.
Variable
- Comparison rate
-
5.90
%
p.a.
- Initial monthly repayment
-
$2,995
Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
- Interest rate
-
5.99% p.a. (5.90% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$0
- Ongoing fees
-
$0.00
- Discharge fee
-
$0.00
- Package
-
- Maximum loan to value ratio
- 80.00%
- Minimum borrowing amount
- $10,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Minimum redraw amount
- -
- Offset account
- no
- Split account
- no
- Other restrictions
- -
- Other benefits
- Rate discounted by 0.01% p.a. every year up to a maximum discount of 0.30% p.a..
- Special offers
- -
Read reviews and learn more about Unloan home loans
Go to site -
Discounted Home Value Loan
- Owner Occupier
- Principal & Interest
- LVR <60%
- Interest rate
-
5.99
%
p.a.
Variable
- Comparison rate
-
5.99
%
p.a.
- Initial monthly repayment
-
$2,995
Enjoy competitive rates for owner occupiers. Enjoy unlimited free extra repayments. Flexibility to redraw additional payments for free. No ongoing monthly service fee. Receive $3,288 cashback when you refinance an existing home loan. Minimum loan amount of $250,000, settle within 120 days from applying.
- Interest rate
-
5.99% p.a. (5.99% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$0
- Ongoing fees
-
$0.00
- Discharge fee
-
$300.00
- Package
-
- Maximum loan to value ratio
- 60.00%
- Minimum borrowing amount
- $50,000
- Maximum borrowing amount
- $15,000,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Minimum redraw amount
- $0.00
- Offset account
- no
- Split account
- yes
- Other restrictions
- Interest only payment option is for a maximum of 5 years.
- Other benefits
- -
- Special offers
- -
Read reviews and learn more about HSBC home loans
-
Budget Home Loan
- LVR <80%
- Owner Occupier
- Principal & Interest
- Interest rate
-
6.04
%
p.a.
Variable
- Comparison rate
-
6.07
%
p.a.
- Initial monthly repayment
-
$3,011
Enjoy a discounted variable home loan from IMB. Get up to $4,000 cashback (T&Cs apply). Life-of-loan discount off IMB’s standard variable interest rate. Unrestricted additional repayments. Free Internet and Mobile Banking redraws (T&Cs apply). No monthly fees to pay. Up to a 30 year loan term. Split loan available. No offset account.
- Interest rate
-
6.04% p.a. (6.07% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$350
- Ongoing fees
-
$0.00
- Discharge fee
-
$350.00
- Package
-
- Maximum loan to value ratio
- 80.00%
- Minimum borrowing amount
- $10,000
- Maximum borrowing amount
- $5,000,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Minimum redraw amount
- $500.00
- Offset account
- no
- Split account
- yes
- Other restrictions
- -
- Other benefits
- The $449 application fee is waived for <80% LVR Owner Occupier Principal and Interest loans.
- Special offers
- $4,000 cashback for loans $750,000 and above with a maximum LVR of 80%, settled within 90 days of application for refinancers or 180 for purchase loans. $3,000 for loans between $500k and $749k, $2,000 for loans between $250k and $499k.
Read reviews and learn more about IMB Bank home loans
Go to site -
Express Home Loan
- Owner Occupier
- Principal & Interest
- LVR <90%
- Interest rate
-
6.09
%
p.a.
Variable
- Comparison rate
-
6.22
%
p.a.
- Initial monthly repayment
-
$3,027
Get online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.
- Interest rate
-
6.09% p.a. (6.22% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$134
- Ongoing fees
-
$10.00 monthly
- Discharge fee
-
$350.00
- Package
-
- Maximum loan to value ratio
- 90.00%
- Minimum borrowing amount
- $5,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Minimum redraw amount
- $0.00
- Offset account
- yes
- Split account
- no
- Other restrictions
- Electronic Valuation: $134. Full Valuation <$1m: $220 and>$1m: $440. Loan applicable when buying or refinancing an established property in a capital city or major regional centre.
- Other benefits
- -
- Special offers
- -
Read reviews and learn more about Bendigo Bank home loans
Go to site -
Basic Home Loan
- Owner Occupier
- LVR<60%
- Principal & Interest
- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.16
%
p.a.
- Initial monthly repayment
-
$3,043
Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 40% Deposit required.
- Interest rate
-
6.14% p.a. (6.16% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$350
- Ongoing fees
-
$0.00
- Discharge fee
-
$400.00
- Package
-
- Maximum loan to value ratio
- 60.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Minimum redraw amount
- -
- Offset account
- no
- Split account
- yes
- Other restrictions
- -
- Other benefits
- -
- Special offers
- -
Read reviews and learn more about Macquarie home loans
Go to site -
Mortgage Simplifier
- LVR<80%
- Owner Occupier
- Principal & Interest
- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.17
%
p.a.
- Initial monthly repayment
-
$3,043
Get a competitive variable rate with ING’s Mortgage Simplifier. Free extra repayments, no monthly or annual fees. Freedom to make free extra repayments or redraws.
- Interest rate
-
6.14% p.a. (6.17% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$350
- Ongoing fees
-
$0.00
- Discharge fee
-
$250.00
- Package
-
- Maximum loan to value ratio
- 80.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $2,000,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Fortnightly, Monthly
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Minimum redraw amount
- $1.00
- Offset account
- no
- Split account
- yes
- Other restrictions
- -
- Other benefits
- Everyday round up available, a feature that automatically rounds purchases made on INGs Orange Everyday transaction account to the nearest $1 or $5 and transfers the difference against your loan balance.
- Special offers
- -
Read reviews and learn more about ING home loans
-
Offset Home Loan
- Owner Occupier
- LVR<60%
- Principal & Interest
- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.39
%
p.a.
- Initial monthly repayment
-
$3,043
Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.
- Interest rate
-
6.14% p.a. (6.39% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$350
- Ongoing fees
-
$248.00 yearly
- Discharge fee
-
$400.00
- Package
-
Package
- Maximum loan to value ratio
- 60.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Minimum redraw amount
- -
- Offset account
- yes
- Split account
- yes
- Other restrictions
- -
- Other benefits
- Waived annual fee for credit card added to the home loan.
- Special offers
- -
Read reviews and learn more about Macquarie home loans
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Elevate
- Owner Occupier
- Principal & Interest
- <80% LVR
- Interest rate
-
6.18
%
p.a.
Variable
- Comparison rate
-
6.18
%
p.a.
- Initial monthly repayment
-
$3,056
Get competitive rates on loan terms of 5 to 30 years with the Aussie Elevate Home Loan. Structure your loan with up to five splits. Make additional repayments (T&Cs apply). Offset accounts available. Unlimited redraw using your online banking account. Choose from weekly, fortnightly or monthly payments For loan amounts from $10,000 to $5 million.
- Interest rate
-
6.18% p.a. (6.18% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$498
- Ongoing fees
-
$0.00
- Discharge fee
-
$325.00
- Package
-
- Maximum loan to value ratio
- 80.00%
- Minimum borrowing amount
- $10,000
- Maximum borrowing amount
- $5,000,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Minimum redraw amount
- -
- Offset account
- Optional extra - $10 per month
- Split account
- yes
- Other restrictions
- -
- Other benefits
- -
- Special offers
- -
Read reviews and learn more about Aussie home loans
Your selected reserve bank interest rates
* 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.
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