They're not monkeying around: BankVic cuts home loan rates to 2.75%

Photo by Jared Rice on Unsplash

Despite the Reserve Bank deciding not to end the year with a bang by cutting rates, it hasn't stopped lenders from dropping theirs.

BankVic and Yellow Brick Road have gotten in the Christmas spirit by dropping their fixed and variable home loan rates by as much as 109 basis points.

Home loan interest rates have been on the downwards slide for large parts of the year thanks to the Reserve Bank, who have made not one, not two, but three cuts to the official cash rate. It's now sitting at a historically low 0.75%.

With a fourth interest rate cut likely on the way in February, it's unlikely these will be the last cuts to home loan interest rates we'll see so it may be worth holding out before fixing your loan.

The table below displays a selection of variable-rate home loans on offer, featuring a low-rate pick from each of the following three categories: the big four banks, the top 10 customer-owned banks, and the larger non-banks.

Advertisement

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

Product Features

• Fast turnaround times, can meet 30-day settlement
• For purchase and refinance, min 20% deposit
• No ongoing or monthly fees, add offset for 0.10%

Monthly repayments:$1,819

3.60%Advertised Rate (p.a.)

3.96%Comparison Rate*

More details

BankVic home loan rate cuts:

BankVic has cut its fixed home loan rates by up to 99 basis points across its fixed home loans for investors and owner occupiers.

For owner occupiers:

• Premium Home two-year fixed 50k+ has been cut by 24 basis points to 2.75% p.a.(3.95% p.a. comparison rate*)
• Premium Home three-year fixed 50k+ has been cut by 48 basis points to 2.75% p.a. (3.84% p.a. comparison rate*)
• Premium Home five-year fixed 50k+ has been cut by 99 basis points to 2.95% p.a. (3.72% p.a. comparison rate*)
• Two-year fixed has been cut by 24 basis points to 2.85% p.a. (3.97% p.a. comparison rate*)
• Three-year fixed has been cut by 48 basis points to 2.85% p.a. (3.87% p.a. comparison rate*)
• Four-year fixed has been cut by 109 basis points to 3.05% p.a. (3.83% p.a. comparison rate*)
• Five-year fixed has been cut by 99 basis points to 3.05% p.a. (3.76% p.a. comparison rate*)

For investors:

• Premium Home Investor fixed two-years 50k+ has been cut by 20 basis points to 3.29% p.a. (4.69% p.a. comparison rate*)
• Premium Home Investor fixed three-years 50k+ has been cut by 28 basis points to 3.29% p.a. (4.43% p.a. comparison rate*)
• Premium Home Investor fixed four-years 50k+ has been cut by 80 basis points to 3.49% p.a. (4.39% p.a. comparison rate*)
• Premium Home Investor fixed five-years 50k+ has been cut by 70 basis points to 3.49% p.a. (4.29% p.a comparison rate*)

Yellow Brick Road home loan rate cuts:

Yellow Brick Road have made some smaller cuts to their fixed and variable home loan rates for owner occupiers, dropping by 6 basis points. 

• Flexi Options 60% Special Offer has been cut by 6 basis points to 3.08% p.a. (3.12% p.a. comparison rate*)
• Flexi Options 80% Special Offer has been cut by 6 basis points to 3.08% p.a. (3.12% p.a. comparison rate*)
• Flexi Options 90% Special Offer has been cut by 6 basis points to 3.08% p.a. (3.12% p.a. comparison rate*)
• Flexi Options Fixed P&I two-years special offer has been cut by 6 basis points to 3.08% p.a. (3.12% p.a. comparison rate*)
• Flexi Options Fixed P&I three-years special offer has been cut by 6 basis points to 3.08% p.a. (3.12% p.a. comparison rate*)

---

---

Disclaimers

The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the Savings Media group. In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. To read about how Savings Media Group manages potential conflicts of interest, along with how we get paid, please visit the web site links at the bottom of this page.

Latest Articles

• RBA remains hawkish on inflation despite real wages not rising until 2024 August 05, 2022
• ING increases popular savings account rate to 3.10% p.a. August 04, 2022
• Where to next for Australia’s property market? August 04, 2022
• Jacaranda Finance launches 60-minute car loan August 04, 2022
• Employees, self-funded retirees feel the brunt of cost of living increases August 03, 2022