Savings .com.au

Roughly every six weeks, the Reserve Bank of Australia (RBA) board meets to discuss Australia’s official cash rate. This sets the standard market interest rate for lending and borrowing money between banks. Banks and other lenders then set their own interest rates on the products they offer including home loans, savings accounts, and term deposits. Banks and lenders pay close attention to the cash rate as it affects their cost of doing business between themselves.

If there is a rise or fall in the cash rate, then the interest rate on a variable-rate mortgage is likely to rise or fall by a similar amount, depending on the lender. Most lenders generally respond to any moves the RBA makes, raising their interest rates when the cash rate increases and dropping their rates when it decreases.

Not all interest rate movements are linked to changes in the official cash rate. Banks and lenders shift the interest rates on their products regularly. This can be because of competition, business strategies, customer attraction or retention, or risk assessments. As a borrower, it pays to keep on top of any changes to the interest rate you are being charged on your mortgage to ensure it is competitive in the market.

How Savings.com.au’s Mortgage Interest Rate Change Calculator can help you

The Savings.com.au mortgage interest rate change calculator can show you how your home loan repayments could hypothetically shift if your lender changes your interest rate.

It’s important to be aware of how rate changes affect your home loan repayments, particularly when there is the potential for rate increases. Knowing the extent of higher repayments can help you reconfigure your budget to accommodate future interest rate increases. It also gives you time to consider refinancing your home loan if higher payments seem too daunting.

In the case of interest rate decreases, the calculator allows you to see how much your minimum repayments could drop by. Whenever the interest rate falls on your home loan, it’s wise to continue making the previous higher repayments if you can manage them. Any extra payment above the minimum goes towards paying down the principal of your loan and can considerably reduce the length of your loan.


Looking for a home loan?

Buying a home or looking to refinance? The table below features home loans
with some of the lowest interest rates on the market for owner occupiers.

Lender

Variable
More details
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Quick and easy online application process.
Disclosure

loans.com.au – Variable Home Loan P&I <90%

  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Quick and easy online application process.
Disclosure
Variable
More details
Built and funded by CommBank
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
Disclosure
Built and funded by CommBank

Unloan – Variable Rate Home Loan LVR < 80%

  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
Disclosure
Variable
More details
100% offset
  • Easy application. Fast approval. 100% offset.
  • Unlimited additional repayments free of charge.
  • Redraw available - Access additional payments.
Disclosure
100% offset

Ubank (part of NAB) – Flex variable home loan - 100% offset

  • Easy application. Fast approval. 100% offset.
  • Unlimited additional repayments free of charge.
  • Redraw available - Access additional payments.
Disclosure
Variable
More details
Up to $2k cashback (T&Cs apply)
  • Up to $2k cashback when you take a loan with us (Terms and Conditions apply)
  • Quick and Easy online application, with no upfront or annual fees.
  • Unlimited additional repayments free of charge.
Disclosure
Up to $2k cashback (T&Cs apply)

Regional Australia Bank – Home Loan without Offset - OO,PI LVR 60% or less

  • Up to $2k cashback when you take a loan with us (Terms and Conditions apply)
  • Quick and Easy online application, with no upfront or annual fees.
  • Unlimited additional repayments free of charge.
Disclosure
Variable
More details
Disclosure

Macquarie Bank – Offset Home Loan (Owner Occupier, Principal and Interest, max LVR 60%)

  • Check your eligibility in as little as one minute
Disclosure
Variable
More details

IMB Bank – Budget Home Loan (Principal and Interest) (LVR 90%-95%)

    Variable
    More details
    Disclosure

    Ubank (part of NAB) – Neat home loan - max. 60% LVR (Owner occupied, Principal and interest)

      Disclosure
      Variable
      More details

      ME – CompleteME Home Loan - LVR 60% to 80% - $150,000 to $400,000

        Variable
        More details

        Heritage Bank – Home Advantage Variable $150,000 to $249,999 LVR >80% to 90%

          Variable
          More details
          Disclosure

          Commonwealth Bank – Wealth Package Variable Home Loan (Principal and Interest) (LVR 80% - 90%)

            Disclosure
            VariableN/A
            More details

            P&N Bank – Basic Variable Home Loan >90% and =<95%

              Variable
              More details

              Great Southern Bank – Offset Variable - Owner Occupier Principal & Interest (LVR is above 80% and less than or equal to 90%)

                Variable
                More details
                Disclosure

                Ubank (part of NAB) – Neat home loan - max. 80% LVR (Owner occupied, Principal and interest)

                  Disclosure
                  Variable
                  More details
                  Disclosure

                  Macquarie Bank – Offset Home Loan (Owner Occupier, Principal and Interest, max LVR 80%)

                    Disclosure
                    Variable
                    More details
                    • Available for purchase or refinance, min 10% deposit needed to qualify.
                    • No application, ongoing monthly or annual fees.
                    • Quick and easy online application process.
                    Disclosure

                    loans.com.au – Variable Home Loan with Offset P&I <90%

                    • Available for purchase or refinance, min 10% deposit needed to qualify.
                    • No application, ongoing monthly or annual fees.
                    • Quick and easy online application process.
                    Disclosure
                    Variable
                    More details

                    Bank Australia Limited Trading as Qudos Bank – Qantas Points Home Loan (Owner Occupied) (PI) (LVR <80%) 10-20%

                      Variable
                      More details

                      AMP – Essential Home Loan (Owner Occupied, Principal and Interest, $250,000+ <= LVR 90%)

                        VariableN/AN/A
                        More details
                        Disclosure

                        Westpac – Flexi First Option Home Loan (Principal & Interest LVR 70-80%) (Promo)

                          Disclosure
                          Variable
                          More details

                          Bank of Queensland – Clear Path Variable Rate Home Loan Discount Rate (max 90% LVR)

                            Variable
                            More details

                            Suncorp Bank – Home Package Plus Personal Variable First Home Buyer Special (Principal and Interest) ($150k+, LVR 80%-95%)

                              Important Information and Comparison Rate Warning

                              Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of July 14, 2025. View disclaimer.

                              Important Information and Comparison Rate Warning