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Bendigo Bank, Newcastle Permanent and Adelaide Bank are now offering interest rates as low as 2.99%.
It’s been over two months since the Reserve Bank lowered the official cash rate to a historically low 1.00% but the rate cuts keep coming.
If you’ve been holding out for the right home loan, here are some of the latest cuts to interest rates for owner-occupiers.
Looking for a low variable rate home loan? The table below displays owner-occupier products which may represent the best of the big four banks, best of the top 10 customer-owned banks and the best of the larger non-banks.
Lender | Advertised rate | Comparison rate* | Monthly repayment | Rate Type | Offset | Redraw | Ongoing Fee | Upfront Fees | LVR | Lump Sum Repayment | Additional Repayments | Pre-approval | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Variable | More details | ||||||||||||
| FEATUREDLIMITED TIME OFFER | Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)
| ||||||||||||
Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)
| |||||||||||||
| Fixed | More details | ||||||||||||
| NO UPFRONT OR ONGOING FEES | Basic Home Loan Fixed (Principal and Interest) (LVR < 70%) 3 Years | ||||||||||||
| Fixed | More details | ||||||||||||
Fixed Home Loan 2 year (Principal and Interest) (LVR < 80%)
| |||||||||||||
| Variable | More details | ||||||||||||
| 100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES | Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)
| ||||||||||||
Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)
| |||||||||||||
| Variable | More details | ||||||||||||
| FEATUREDZERO APPLICATION FEESFEE FREE OFFSET | Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)
| ||||||||||||
Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)
| |||||||||||||
| Variable | More details | ||||||||||||
| FEATUREDREFINANCE IN MINUTES, NOT WEEKS | Nano Home Loans Variable Owner Occupied, Principal and Interest (Refinance Only)
| ||||||||||||
Nano Home Loans Variable Owner Occupied, Principal and Interest (Refinance Only)
| |||||||||||||
- 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%
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 made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. 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 January 21, 2022. View disclaimer.
Stay up to date with the latest rate changes
SIGN UPBendigo Bank rate cuts
Bendigo Bank announced it will be reducing rates by up to 20 basis points on fixed-rate loans for owner-occupiers and investors.
Rate cuts for owner-occupiers:
- Two-year basic fixed rates for borrowers paying principal and interest (P&I) have been cut to 2.99 p.a. (3.51% p.a. comparison rate*)
- Three-year basic fixed rates for borrowers paying principal and interest (P&I) have been cut to 3.19 p.a. (3.53% p.a. comparison rate*)
Rate cuts for investors:
- Two-year basic fixed for borrowers making P&I repayments have been reduced to 3.39% p.a. (3.95% p.a comparison rate*)
- Three-year basic fixed for borrowers making P&I repayments have been reduced to 3.59% p.a. (3.96% p.a comparison rate*)
Newcastle Permanent rate cuts
Premium Plus Package customers can enjoy low rates of 2.99% p.a. (comparison rates differ, see below).
- Two-year fixed rates for borrowers making interest-only (IO) repayments for a loan size of over $5k have been cut to 2.99% p.a. (4.14% p.a. comparison rate*)
- Three-year fixed rates for borrowers making interest-only (IO) repayments for a loan size of over $5k have been cut to 2.99% p.a. (4.06% p.a. comparison rate*)
- Two-year fixed rates for borrowers making P&I repayments for a loan size of over $5k have been cut to 2.99% p.a. (4.16% p.a. comparison rate*)
- Three-year fixed rates for borrowers making P&I repayments for a loan size of over $5k have been cut to 2.99% p.a. (4.08% p.a. comparison rate*)
Adelaide Bank rate cuts
Adelaide Bank has cut rates by up to 60 basis points on fixed home loans for its SmartSaver and SmartFix products.
SmartSaver cuts:
- One-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.30% p.a. comparison rate*)
- Two-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.28% p.a. comparison rate*)
- Three-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.44% p.a. comparison rate*)
- Four-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.42% p.a. comparison rate*)
- Five-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.40% p.a. comparison rate*)
SmartFix cuts:
- One-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.49% p.a. comparison rate*)
- Two-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.46% p.a. comparison rate*)
- Three-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.44% p.a. comparison rate*)
- Four-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.42% p.a. comparison rate*)
- Five-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.40% 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.
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