BOQ, Bank of us and Hume Bank slice fixed rates

author-avatar By
on November 29, 2019
BOQ, Bank of us and Hume Bank slice fixed rates

Photo by Igor Miske on Unsplash

It’s Black Friday folks and the kind people at Hume Bank, Bank of us and Bank of Queensland (BOQ) have got in the spirit this week by slashing fixed-rate home loans.

These cuts could be some of the last seen this year, with the Reserve Bank (RBA) cutting the cash rate three times already this year and the majority of economists predicting it will remain unchanged for December.

It’s widely predicted the central bank will cut to a historic 0.50% in February, but for now, Hume Bank, BOQ and Bank of us have got in early, or late, depending on which way you look at it.

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

Variable
More details
UNLIMITED REDRAWSSPECIAL OFFER
  • 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%
UNLIMITED REDRAWSSPECIAL OFFER

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

  • 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%
Variable
More details
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES
  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
Variable
More details
ZERO APPLICATION FEESFEE FREE OFFSET
  • We lower your rate based off how much you’ve paid down your loan
  • Automatic rate match
  • No upfront or ongoing fees
  • The shorter your loan, the less interest you pay in the long run.
ZERO APPLICATION FEESFEE FREE OFFSET

Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)

  • We lower your rate based off how much you’ve paid down your loan
  • Automatic rate match
  • No upfront or ongoing fees
  • The shorter your loan, the less interest you pay in the long run.
Variable
More details
AN EASY DIGITAL APPLICATION
  • No ongoing fees - None!
  • Unlimited additional repayments
  • Easy online application, find out if you're approved quick!
  • Redraw- Access your additional payments if you need them
  • Use the app to get loan insights to help you pay off your home loan faster
AN EASY DIGITAL APPLICATION

Neat Variable Home Loan (Principal and Interest) (LVR < 60%)

  • No ongoing fees - None!
  • Unlimited additional repayments
  • Easy online application, find out if you're approved quick!
  • Redraw- Access your additional payments if you need them
  • Use the app to get loan insights to help you pay off your home loan faster
Variable
More details
NO APPLICATION FEES
  • No ongoing fees - None!
  • Unlimited additional repayments
  • Easy online application, find out if you're approved quick!
  • Redraw- Access your additional payments if you need them
  • Use the app to get loan insights to help you pay off your home loan faster
NO APPLICATION FEES

Yard Home Loan (Principal and Interest) (LVR < 80%)

  • No ongoing fees - None!
  • Unlimited additional repayments
  • Easy online application, find out if you're approved quick!
  • Redraw- Access your additional payments if you need them
  • Use the app to get loan insights to help you pay off your home loan faster
Variable
More details
NO UPFRONT OR ONGOING FEES
  • No ongoing fees - None!
  • Unlimited additional repayments
  • Easy online application, find out if you're approved quick!
  • Redraw- Access your additional payments if you need them
  • Use the app to get loan insights to help you pay off your home loan faster
NO UPFRONT OR ONGOING FEES

Owner Occupier Accelerates - Evaporate (LVR 60%-70%) (Principal and Interest)

  • No ongoing fees - None!
  • Unlimited additional repayments
  • Easy online application, find out if you're approved quick!
  • Redraw- Access your additional payments if you need them
  • Use the app to get loan insights to help you pay off your home loan faster
Variable
More details
NO UPFRONT OR ONGOING FEES
  • No ongoing fees - None!
  • Unlimited additional repayments
  • Easy online application, find out if you're approved quick!
  • Redraw- Access your additional payments if you need them
  • Use the app to get loan insights to help you pay off your home loan faster
NO UPFRONT OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 80%)

  • No ongoing fees - None!
  • Unlimited additional repayments
  • Easy online application, find out if you're approved quick!
  • Redraw- Access your additional payments if you need them
  • Use the app to get loan insights to help you pay off your home loan faster
Variable
More details
UNLIMITED EXTRA REPAYMENTS
UNLIMITED EXTRA REPAYMENTS

Basic Home Loan (Principal and Interest) (LVR < 60%)

    Variable
    More details
    EASY DIGITAL APPLICATION
    EASY DIGITAL APPLICATION

    Neat Variable Home Loan (Principal and Interest) (LVR 70%-80%)

      Variable
      More details
      $0 APPLICATION FEE
      $0 APPLICATION FEE

      Budget Home Loan (Principal and Interest) (LVR < 80%)

        Variable
        More details
        100% FULL OFFSET ACCOUNT
        100% FULL OFFSET ACCOUNT

        Offset Package Home Loan (Principal and Interest) (LVR < 60%)

          Variable
          More details
          LIMITED TIME OFFER
          • Fast turnaround times, can meet 30-day settlement
          • No ongoing or monthly fees, add offset for 0.10%
          • Extra repayments + redraw services
          LIMITED TIME OFFER

          Smart Booster Home Loan Discounted Variable - 1yr

          • Fast turnaround times, can meet 30-day settlement
          • No ongoing or monthly fees, add offset for 0.10%
          • Extra repayments + redraw services

          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. 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 June 29, 2022. View disclaimer.

          BOQ rate cuts

          Bank of Queensland has made changes to fixed rates of up to 25 basis points on its fixed-rate home loans, effective from 27 November:

          • Two-year fixed principal and interest (P&I) Home Loan Privileges Investment discount rate has been cut by 20 basis points to 3.24% p.a (4.30% p.a comparison rate*)
          • Three-year fixed P&I Home Loan Privileges Investment discount rate has been cut by 25 basis points to 3.24% p.a (4.24% p.a comparison rate*)
          • Two-year fixed P&I Investment discount rate has been cut by 20 basis points to 3.24% p.a (4.04% p.a comparison rate*)
          • Three-year fixed P&I Investment discount rate has been cut by 25 basis points to 3.24% p.a (3.97% p.a comparison rate*)
          • Three-year fixed interest-only (IO) Home Loan Privileges Investment discount rate has been cut by 25 basis points to 3.34% p.a (4.26% p.a comparison rate*)
          • Three-year fixed IO Investment discount rate has been cut by 25 basis points to 3.34% p.a (4.26% p.a comparison rate*)

          Hume Bank rate cuts

          Albury and Wodonga-based bank Hume Bank have made reductions of up to 19 basis points on its fixed-rate products, effective from 26 November:

          • Two-year fixed P&I Residential rate has been cut by 7 basis points to 3.12 p.a (4.37% p.a comparison rate*)
          • Three-year fixed P&I Residential rate has been cut by 14 basis points to 3.12 p.a (4.25% p.a comparison rate*)
          • Two-year fixed P&I investment rate has been cut by 14 points to 3.45% p.a (4.91% p.a comparison rate*)
          • Three-year fixed P&I investment rate has been cut by 19 points to 3.45% p.a (4.77% p.a comparison rate*)

          Bank of us rate cuts

          Tasmanian-based Bank of us has cut its fixed-rate home loans by up to 61 basis points, effective from 26 November:

          • One-year fixed FlexiDiscount rate with an LVR of 80% has been cut by 51 basis points to 3.38% p.a (3.40% p.a comparison rate*)
          • One-year fixed FlexiDiscount rate with an LVR of 90% has been cut by 61 basis points to 3.38% p.a (3.69% p.a comparison rate*)
          • Two-year fixed FlexiDiscount rate with an LVR of 80% has been cut by 31 basis points to 3.38% p.a (3.40% p.a comparison rate*)
          • Two-year fixed FlexiDiscount rate with an LVR of 90% has been cut by 41 basis points to 3.38% p.a (3.67% 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

          author-avatar
          Alex joined Savings.com.au as a finance journalist in 2019. He enjoys covering in-depth economical releases and breaking down how they might affect the everyday punter. He is passionate about providing Australians with the information and tools needed to make them financially stable for their futures.

          Be Savings smart.
          Subscribe for free money newsletters.

          By subscribing you agree
          to the Savings Privacy Policy