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.

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LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
$2,408
Principal & Interest
Variable
$0
$530
70%
 Featured Online ExclusiveUp To $4K Cashback
  • Immediate cashback upon settlement
  • $2,000 for loans up to $700,000
  • $4,000 for loans over $700,000
5.99% p.a.
5.90% p.a.
$2,396
Principal & Interest
Variable
$0
$0
80%
 Featured Apply In Minutes
  • 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.
  • Immediate cashback upon settlement
  • $2,000 for loans up to $700,000
  • $4,000 for loans over $700,000

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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 . View disclaimer.

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Bendigo 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*)



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