RBA emergency rate cut: Is your lender passing it on?

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on March 19, 2020
RBA emergency rate cut: Is your lender passing it on?

Australia's central bank has made an emergency cash rate cut. Are lenders passing this on to home loans? Find out below with Savings.com.au's comprehensive list of home loan rate cut announcements...

In an emergency response to the coronavirus pandemic, the Reserve Bank of Australia (RBA) has cut the cash rate for the second time this month, lowering it by another 25 basis points to a new record low of 0.25%.

Stay tuned to this page for regular updates below of which lenders are announcing they are passing on some or all of this rate cut to variable-rate home loans.

Current low rate home loans

For quick reference: As things stand, these are some of the lowest-rate home loans Savings.com.au has found on the market:

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
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
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) (Special) (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 May 18, 2022. View disclaimer.

          Car loan interest rates have also been cut in recent weeks. Here are some of the lowest-rate car loans Savings.com.au has found on the market:

          Lender

          VariableNew1 yearMore details
          APPLY ONLINE
          APPLY ONLINE

          Electric and Hybrid Car Loan

            FixedNew2 yearsMore details
            QUICK APPLICATION PROCESS WITH NO FEES
            • Quick application process and no monthly fees
            • Low fixed interest rates with terms of up to seven years
            • New car loans cover cars up to 3 years old
            QUICK APPLICATION PROCESS WITH NO FEES

            New Vehicle Fast Loan Low Rate

            • Quick application process and no monthly fees
            • Low fixed interest rates with terms of up to seven years
            • New car loans cover cars up to 3 years old
            FixedNew, Used5 yearsMore details

            Fixed Car Loan (with Low Emission Vehicle discount)

              FixedNew1 yearMore details

              Green Car Loan Fixed

                Base criteria: fixed and secured car loans for 'low emission' cars. Data accurate as at 01 September 2020. Rates based on a loan of $30,000 for a five-year loan term. Products sorted by advertised rate. Repayments are calculated based on advertised rates. *The Comparison rate is based on a $30,000 loan over 5 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 May 18, 2022. View disclaimer.

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                Which banks and lenders are cutting interest rates?

                All cuts below refer to lenders’ responses to the RBA’s emergency rate cut on March 19 2020. To see how these rate cuts compare with previous rate cuts, check out our JuneJuly, October and March 3 rate cut pages.

                Last updated: 11:30 AM AEST 09/04/2020.

                Key notes:

                • P&I=Principal and Interest, IO=Interest Only, OO=Owner Occupier.
                • Basis points explained: 1 basis point = 0.01% point of  an interest rate (e.g. 3.00% p.a. cut by 25 basis points to 2.75% p.a.) 
                • Advertised rates: The “new lowest advertised variable rates” listed for each lender excludes introductory & honeymoon rates and package rates. Rates are correct at the time of the last update to this page. Lowest rates will only be listed if they are new (i.e. the rate became that lender’s lowest rate after some or all of the RBA’s March cash rate cut were passed on) and currently available.

                86 400 interest rate cut - pending

                AMP interest rate cut

                ANZ interest rate cut

                Athena interest rate cut

                Aussie Home Loans interest rate cut - pending

                Auswide Bank interest rate cut

                Australian Military Bank interest rate cut - pending

                Australian Unity interest rate cut - pending

                Bank Australia interest rate cut

                Bankfirst interest rate cut - pending

                Bank of Melbourne interest rate cut

                Bank of Sydney interest rate cut - pending

                Bank of Us interest rate cut

                BankSA interest rate cut

                BankVic interest rate cut - pending

                Bankwest interest rate cut

                BCU interest rate cut - pending

                Bendigo Bank interest rate cut

                Beyond Bank interest rate cut - pending

                BOQ interest rate cut - pending

                Citi interest rate cut

                Commonwealth Bank interest rate cut

                Community First CU interest rate cut - pending

                Credit Union SA interest rate cut - pending

                CUA interest rate cut

                Defence Bank interest rate cut

                Firstmac interest rate cut

                Freedom Lend interest rate cut - pending

                G&C Mutual Bank interest rate cut

                Gateway Bank interest rate cut

                Greater Bank interest rate cut

                Heritage Bank interest rate cut

                Homestar Finance interest rate cut

                HSBC interest rate cut

                Hume Bank interest rate cut - pending

                Hunter United interest rate cut

                Illawarra Credit Union interest rate cut - pending

                IMB Bank interest rate cut

                ING interest rate cut

                Liberty interest rate cut

                Loans.com.au interest rate cut - Click to view the latest rates

                Macquarie Bank interest rate cut

                ME interest rate cut

                Mortgage house interest rate cut - pending

                Move Bank interest rate cut

                MyState Bank interest rate cut

                NAB interest rate cut

                Newcastle Permanent interest rate cut

                P&N Bank interest rate cut

                People's Choice Credit Union interest rate cut

                Pepper Money interest rate cut

                Police Bank interest rate cut

                Police Credit Union interest rate cut - pending

                QBank interest rate cut

                Qudos Bank interest rate cut

                RACQ Bank interest rate cut - pending

                RAMS interest rate cut

                Reduce Home Loans interest rate cut

                Resimac interest rate cut

                Sydney Mutual Bank interest rate cut - pending

                State Custodians interest rate cut

                St George interest rate cut

                Suncorp interest rate cut

                Teachers Mutual Bank interest rate cut - pending

                The Mutual Bank interest rate cut - pending

                Tic Toc interest rate cut

                UBank interest rate cut

                UniBank interest rate cut - pending

                Unity Bank interest rate cut - pending

                Virgin Money interest rate cut - pending

                Westpac interest rate cut

                Stay up to date with the latest rate changes

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                AMP interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Variable home loan interest rates
                • Announcement date: 25 March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 25 basis points
                • July rate cut: 20 basis points
                • October rate cut: 15 basis points 
                • March rate cut: 25-64 basis points
                • Other info: AMP has confirmed it has not reduced variable interest rates on home loans

                ANZ interest rate cut

                • Rate cut: 15 basis points 
                • Applies to: Variable home loan rates
                • Announcement date: 20 March
                • Effective date: 27 March (8 days after RBA cut) 
                • New lowest advertised variable rate: 
                • June rate cut: 18 basis points
                • July rate cut: 25 basis points
                • October rate cut: 14-25 basis points 
                • March rate cut: 25 basis points 
                • Other info: Some fixed rates for home loan customers cut by up to 49 basis points. Introduction of a two-year fixed rate of 2.19% p.a. for Owner Occupiers paying Principal & Interest -  ANZ's lowest fixed-rate home loan on-record.

                Athena interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Home loan interest rates
                • Announcement date: 20 March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 25 basis points
                • July rate cut: 25 basis points
                • October rate cut: 25 basis points 
                • March rate cut: 25 basis points 
                • Other info: Athena has confirmed it is leaving rates unchanged

                Auswide Bank interest rate cut

                • Rate cut: 25 basis points
                • Applies to: Auswide's RBA Rate Tracker home loan only
                • Announcement date: 24 March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 15-25 basis points
                • July rate cut: 10-25 basis points 
                • October rate cut: 10-25 basis points 
                • March rate cut: 25 basis points 
                • Other info: Rate cuts for other variable rate home loans unconfirmed. 

                Bank Australia interest rate cut

                • Rate cut: 0 basis points
                • Applies to: Variable interest rates
                • Announcement date: 26 March
                • Effective date: 
                • New lowest advertised variable rate: 
                • June rate cut: 25 basis points
                • July rate cut: 16 basis points 
                • October rate cut: 10 basis points
                • March rate cut: 25 basis points
                • Other info: Bank Australia has confirmed it will be holding variable interest rates at current levels. It will reduce fixed rate home loans by up to 105 basis points for 1, 2, 3 and 5-year loans for owner occupiers and investors with Principal and Interest repayment loans.

                Bank of Melbourne interest rate cut

                • Rate cut: 0 basis points
                • Applies to: Variable interest rates
                • Announcement date: 20 March
                • Effective date: 
                • New lowest advertised variable rate: 
                • June rate cut: 20-35 basis points 
                • July rate cut: 20-30 basis points 
                • October rate cut: 15 basis points 
                • March rate cut: 25 basis points
                • Other info: 1, 2, 3-year fixed rate home loans for OO customers on P&I repayments with an Advantage Package cut to 2.29% p.a. 

                Bank of Us interest rate cut

                • Rate cut: 0 basis points
                • Applies to: Variable interest rates
                • Announcement date: 26 March
                • Effective date: 
                • New lowest advertised variable rate: 
                • March rate cut: 25 basis points
                • Other info: Bank of Us has confirmed no further change to variable rates at this time. From 1 April, it is offering a 2-year fixed rate of 2.59% p.a. (comp rate* 2.89% p.a.) 

                BankSA interest rate cut

                • Rate cut: 0 basis points
                • Applies to: Variable interest rates
                • Announcement date: 20 March
                • Effective date: 
                • New lowest advertised variable rate: 
                • June rate cut: 20-35 basis points 
                • July rate cut: 20-30 basis points 
                • October rate cut: 15 basis points 
                • March rate cut: 25 basis points
                • Other info: 1, 2, 3-year fixed rate home loans for OO customers on P&I repayments with an Advantage Package cut to 2.29% p.a. 

                Bankwest interest rate cut

                • Rate cut: 0 basis points
                • Applies to: Variable interest rates
                • Announcement date: 25 March
                • Effective date: 
                • New lowest advertised variable rate: 
                • June rate cut: 25 basis points 
                • July rate cut: 19 basis points 
                • October rate cut: 13-25 basis points
                • March rate cut: 25 basis points
                • Other info: Bankwest has confirmed standard variable interest rates remain unchanged. It has made a 60 basis point interest rate reduction to its Complete Fixed Home Loan Package for owner occupiers paying principal and interest. The reduced three-year fixed rate will be 2.33% p.a. (comparison rate*: 3.51% p.a.)

                Bendigo Bank interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Variable home loan interest rates
                • Announcement date: 25 March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 15-20 basis points
                • July rate cut: 15-20 basis points
                • October rate cut: 15 basis points
                • March rate cut: 25 basis points 
                • Other info: Bendigo has confirmed variable rates have been left unchanged. Fixed rates across one, two and three-year terms for OO and investors lowered by up to 70 basis points (effective 30 March). Will offer fixed rates as low as 2.29% p.a. 

                Citi interest rate cut

                • Rate cut:10 basis points 
                • Applies to: Basic, Standard and Offset home loans for owner occupier applications on principal and interest repayments
                • Announcement date: 30 March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 25 basis points 
                • July rate cut: 18 basis points 
                • October rate cut: 15 basis points 
                • March rate cut: 25 basis points 
                • Other info: Variable rate cuts for existing customers unconfirmed. 

                Commonwealth Bank interest rate cut

                • Rate cut: 0 basis points
                • Applies to: Standard variable rate
                • Announcement date: 19 March
                • Effective date: 
                • New lowest advertised variable rate:
                • June rate cut: 25 basis points 
                • July rate cut: 19-25 basis points 
                • October rate cut: 13-25 basis points 
                • March rate cut: 25 basis points
                • Other info: 1,2 and 3-year fixed-rate home loans have been cut by 70 basis points. No change to standard variable rate. More info here 

                CUA interest rate cut

                • Rate cut: 0 basis points
                • Applies to: Standard variable rate
                • Announcement date: 25 March
                • Effective date: 
                • New lowest advertised variable rate:
                • June rate cut: 10-25 basis points 
                • July rate cut: 17 basis points 
                • October rate cut: 13 basis points 
                • March rate cut: 25 basis points
                • Other info: CUA has confirmed it is not cutting variable interest rates. It will offer new 2.29% p.a. 2-year and 3-year fixed home loan rates (comparison rates* of 4.11% p.a. and 3.94% p.a. respectively) for owner-occupiers making principal and interest repayments, effective Wednesday 1 April 2020. 

                Defence Bank interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Variable home loan interest rates
                • Announcement date: 23 March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 25 basis points
                • July rate cut: 19 basis points
                • October rate cut: 15 basis points
                • March rate cut: 25 basis points 
                • Other info: Defence Bank has confirmed there are no changes to home loan variable rates

                Firstmac interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Home loan interest rates
                • Announcement date: 23 March
                • Effective date:
                • New lowest advertised variable rate: 
                • March rate cut: 25 basis points 
                • Other info: Firstmac has confirmed it is leaving rates unchanged

                G&C Mutual Bank interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Variable rate home loans 
                • Announcement date: 23 March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 10-40 basis points
                • July rate cut: 10-20 basis points
                • October rate cut15-50 basis points
                • March rate cut: 25 basis points
                • Other info: G&C Mutual Bank has confirmed there are no immediate changes to home loan variable rates. The interest rates for new fixed rate owner-occupied home loans have been reduced by between 20 and 70 basis points with effect on 24 March 2020, with the new rate on 1 year fixed rate product now at 2.29% p.a.

                Gateway Bank interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Variable rate home loans 
                • Announcement date: 3 April
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 25 basis points
                • July rate cut: 15-25 basis points
                • October rate cut: 14 basis points
                • March rate cut: 25 basis points
                • Other info: Gateway has made the decision to not reduce the rates on its variable loan products. It will be reducing fixed home loan interest rates by up to 25 basis points, effective Friday 3 April.

                Greater Bank interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Any home loan interest rates
                • Announcement date: 23 March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 25 basis points 
                • July rate cut: 20 basis points 
                • October rate cut: 9-20 basis points
                • March rate cut: 25 basis points
                • Other info

                Heritage Bank interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Variable rate home loans
                • Announcement date: 26 March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 20 basis points 
                • July rate cut: 15 basis points 
                • October rate cut: 15 basis points
                • March rate cut: 20 basis points
                • Other info: Will cut interest rates across most fixed rate home loans, up to 0.30% for a one-year owner-occupier and 0.29% for a one-year investor loan.

                Homestar Finance interest rate cut

                • Rate cut: 10 basis points 
                • Applies to: Variable rate home loans
                • Announcement date: 26 March
                • Effective date: 1 April 
                • New lowest advertised variable rate: 
                • June rate cut: 25 basis points 
                • July rate cut: 25 basis points
                • October rate cut: 25 basis points 
                • March rate cut: 25 basis points
                • Other info

                HSBC interest rate cut

                • Rate cut: 0 basis points
                • Applies to: All variable interest rate loans
                • Announcement date: 24 March
                • Effective date: 30 March (13 days after RBA cut)
                • New lowest advertised variable rate:
                • June rate cut: 22 basis points 
                • July rate cut: 20 basis points 
                • October rate cut: 15-20 basis points
                • March rate cut: 25 basis points
                • Other info: A 50 bps reduction in one, two, three-year fixed rate home loans paying P&I (OO)

                Hunter United interest rate cut

                • Rate cut: 15 basis points
                • Applies to: All variable interest rate loans
                • Announcement date: 20 March
                • Effective date: 27 March (8 days after RBA cut)
                • New lowest advertised variable rate:
                • June rate cut: 25-41 basis points 
                • July rate cut: 5-20 basis points 
                • October rate cut: Up to 20 basis points
                • March rate cut: 15 basis points
                • Other info: 

                IMB Bank interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Variable home loan interest rates
                • Announcement date: 26 March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 25 basis points 
                • July rate cut: 18 basis points
                • October rate cut: 13 basis points 
                • March rate cut: 25 basis points 
                • Other info: IMB has confirmed there will be no further changes to the standard variable home loan rate at this time.

                ING interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Variable home loan interest rates
                • Announcement date: 25 March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 25 basis points 
                • July rate cut: 20 basis points
                • October rate cut: 15 basis points 
                • March rate cut: 25 basis points 
                • Other info: ING has confirmed variable rates remain unchanged. From 26 March it will offer new fixed home loan rates, including a 2.09% p.a. two year OO fixed rate for those also holding an OO Orange Advantage loan account.   

                Liberty interest rate cut

                • Rate cut: 15 basis points
                • Applies to: Variable home loan customers with LVRs up to 80%
                • Announcement date: 25 March
                • Effective date: 16 April 
                • New lowest advertised variable rate:
                • June rate cut: 25 basis points 
                • July rate cut: 19 basis points
                • October rate cut: 25 basis points 
                • March rate cut: 25 basis points
                • Other info: 

                Loans.com.au interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Home loan interest rates
                • Announcement date: 23 March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 20 basis points
                • July rate cut: 25 basis points
                • October rate cut: 15-20 basis points 
                • March rate cut: 25 basis points 
                • Other info: Loans.com.au has confirmed it is leaving rates unchanged

                Macquarie Bank interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Variable home loan interest rates
                • Announcement date: 20 March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 25 basis points 
                • July rate cut: 20 basis points
                • October rate cut: 15 basis points  
                • March rate cut: 25 basis points 
                • Other info: Macquarie Bank has confirmed it is leaving variable home loan rates unchanged

                ME Bank interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Variable home loan interest rates
                • Announcement date: 23 March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 25 basis points 
                • July rate cut: 15 basis points
                • October rate cut: 15 basis points  
                • March rate cut: 25 basis points 
                • Other info: ME Bank has confirmed variable home loan rates will remain unchanged. Will offer fixed rate home loan products including 1-, 2- and 3-year terms, starting as low as 2.19% p.a. for 2 years.

                Move Bank interest rate cut

                • Rate cut: Up to 25 basis points 
                • Applies to: Standard Variable Home Loan (25 basis points) and myHome Package (25 basis points) 
                • Announcement date: 27 March
                • Effective date: 1 April 
                • New lowest advertised variable rate: 
                • June rate cut: 25 basis points 
                • July rate cut: 20-30 basis points
                • October rate cut: 10-25 basis points
                • March rate cut: 25 basis points 
                • Other info: No confirmed rate cuts for other variable-rate home loans

                MyState Bank interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Variable home loan interest rates
                • Announcement date: 26 March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 25 basis points 
                • July rate cut: 15 basis points
                • October rate cut: 15 basis points  
                • March rate cut: 25 basis points 
                • Other info: MyState Bank has confirmed variable home loan rates have not been altered. It has reduced its fixed rate home loans to a low 2.39% p.a.

                NAB interest rate cut

                • Rate cut0 basis points
                • Applies to: Variable home loan rates
                • Announcement date: 20 March
                • Effective date: 
                • New lowest advertised variable rate: 
                • June rate cut: 25 basis points 
                • July rate cut: 19 basis points
                • October rate cut: 15-30 basis points 
                • March rate cut: 25 basis points
                • Other info: No change to variable interest rates, but 1, 2, 3 and 5-year fixed rates will be cut by up to 60 basis points

                Newcastle Permanent interest rate cut

                • Rate cut0 basis points
                • Applies to: Variable home loan rates
                • Announcement date: 26 March
                • Effective date: 
                • New lowest advertised variable rate: 
                • June rate cut: 18-39 basis points 
                • July rate cut: 18 basis points
                • October rate cut: 13 basis points 
                • March rate cut: 25 basis points
                • Other info: Reducing interest rates for fixed rate home loans across most terms by up to 0.70% p.a., available to new and existing customers.

                P&N Bank interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Variable home loan interest rates
                • Announcement date: 26 March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 18-39 basis points 
                • July rate cut: 18 basis points
                • October rate cut: 16-25 basis points 
                • March rate cut: 25 basis points 
                • Other info: Decreasing rates on fixed rate products from 27 March: Fixed rate 2 year <80% LVR cut by 10 bps to 2,34% p.a, 3 year <80% LVR cut by 10 bps to 2.29% p.a.

                People's Choice Credit Union interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Variable home loan interest rates
                • Announcement date: 24 March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 25 basis points 
                • July rate cut: 15 basis points
                • October rate cut: 14-25 basis points 
                • March rate cut: 25 basis points 
                • Other info: People's Choice has confirmed "there is no change to variable rates in this suite of pricing changes". It has cut its fixed rate home loan packages by between 60 and 70 basis points from 26 March 2020. Members can access a rate of 2.29% per annum for a one-year fixed home loan or a rate of only 2.19% per annum for a two-year fixed loan.

                Pepper Money interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Home loan interest rates
                • Announcement date: 24 March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 25 basis points 
                • July rate cut: 20 basis points
                • October rate cut: 15-24 basis points 
                • March rate cut: Up to 25 basis points 
                • Other info: Pepper Money has confirmed it is leaving variable rates unchanged for existing customers

                Police Bank interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Home loan interest rates
                • Announcement date: Late March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: Not disclosed
                • July rate cut: 15 basis points
                • October rate cut: Not disclosed 
                • March rate cut: Up to 25 basis points 
                • Other info: Police Bank has confirmed they’re "leaving our rates as they are"

                QBank interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Variable interest rates on home loans
                • Announcement date: 27 March
                • Effective date:
                • New lowest advertised variable rate: 
                • June rate cut: 18 basis points 
                • July rate cut: 20 basis points 
                • October rate cut: 15 basis points 
                • March rate cut: 18 basis points 
                • Other info: QBank has confirmed "Variable rates for Owner Occupier and Investor Home Loans will be unchanged"

                Qudos Bank interest rate cut

                • Rate cut: 10 basis points 
                • Applies to: All existing variable rate mortgages
                • Announcement date: 25 March
                • Effective date: 2 April
                • New lowest advertised variable rate: 
                • June rate cut: 25 basis points 
                • July rate cut: 15 basis points 
                • October rate cut: 15 basis points 
                • March rate cut: 25 basis points 
                • Other info: 

                RAMS interest rate cut

                • Rate cut: 0 basis points
                • Applies to: Variable interest rates
                • Announcement date: 23 March
                • Effective date: 
                • New lowest advertised variable rate: 
                • June rate cut: 20-35 basis points 
                • July rate cut: 20-30 basis points 
                • October rate cut: 15 basis points 
                • March rate cut: 25 basis points
                • Other info: Offering new fixed rate of 2.29% p.a across fixed terms of 1, 2, 3-years for OO customers on P&I repayments.  

                Reduce Home Loans interest rate cut

                • Rate cut: 0-25 basis points
                • Applies to: Variable interest rates for new customers:
                  • Rate Buster Variable (3 basis points)
                  • Rate Slasher (5 basis points)
                  • Investor Rate Slasher (10-20 basis points)
                  • Investor Rate Slasher IO (25 basis points) 
                • Announcement date: 1 April
                • Effective date: 1 April
                • New lowest advertised variable rate: 2.39% p.a. (2.40% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR
                • June rate cut: 25 basis points 
                • July rate cut: Up to 22 basis points
                • October rate cut: Up to 20 basis points 
                • March rate cut: 25 basis points
                • Other info: Rate cuts for existing customers yet to be confirmed   

                Resimac interest rate cut

                • Rate cut: 0 basis points
                • Applies to: Variable interest rates
                • Announcement date: 27 March
                • Effective date: 
                • New lowest advertised variable rate: 
                • June rate cut: Not disclosed
                • July rate cut: 25 basis points
                • October rate cut: 15 basis points 
                • March rate cut: 25 basis points
                • Other info: Resimac has confirmed it will not be making any further changes to rates at this time.

                St George interest rate cut

                • Rate cut: 0 basis points
                • Applies to: Variable interest rates
                • Announcement date: 20 March
                • Effective date: 
                • New lowest advertised variable rate: 
                • June rate cut: 20-35 basis points 
                • July rate cut: 20-30 basis points 
                • October rate cut: 15 basis points 
                • March rate cut: 25 basis points
                • Other info: 1, 2, 3-year fixed rate home loans for OO customers on P&I repayments with an Advantage Package cut to 2.29% p.a. 

                State Custodians interest rate cut

                • Rate cut: 0 basis points
                • Applies to: Variable interest rates
                • Announcement date: 27 March
                • Effective date: 
                • New lowest advertised variable rate: 
                • July rate cut: 25 basis points 
                • October rate cut: 25 basis points 
                • March rate cut: 25 basis points
                • Other info: State Custodians has confirmed it will not be making any further changes to rates at this time.

                Suncorp interest rate cut

                • Rate cut: 0 basis points
                • Applies to: Variable interest rates
                • Announcement date: 23 March
                • Effective date: 3 April 2020 (17 days after RBA rate cut)
                • New lowest advertised variable rate: 
                • June rate cut: 20 basis points 
                • July rate cut: 19 basis points 
                • October rate cut: 15 basis points 
                • March rate cut: 25 basis points
                • Other info: Suncorp has confirmed no change to variable home loan rates "at this stage". Meanwhile, dropping fixed rate home loans to 2.29% p.a. on two year fixed and 2.49% p.a. on three-year fixed products

                TicToc interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Variable home loan interest rates
                • Announcement date: 25 March
                • Effective date:
                • New lowest advertised variable rate:
                • June rate cut: 20 basis points 
                • July rate cut: 20 basis points 
                • October rate cut: 15 basis points 
                • March rate cut: 25 basis points 
                • Other info: TicToc has confirmed variable home loan rates will be held steady. Will offer a rate of 2.22% p.a. fixed for one to three years for live-in principal and interest loans.

                UBank interest rate cut

                • Rate cut: 0 basis points 
                • Applies to: Variable home loan interest rates
                • Announcement date: 9 April
                • Effective date:
                • New lowest advertised variable rate:
                • June rate cut: 25 basis points 
                • July rate cut: 25 basis points 
                • October rate cut: 25 basis points 
                • March rate cut: 25 basis points 
                • Other info: UBank has confirmed there is no change to its variable rate for home loan customers. 

                Westpac interest rate cut

                • Rate cut: 0 basis points
                • Applies to: Variable interest rates
                • Announcement date: 20 March
                • Effective date: 
                • New lowest advertised variable rate: 
                • June rate cut: 20-35 basis points 
                • July rate cut: 20-30 basis points 
                • October rate cut: 15 basis points 
                • March rate cut: 25 basis points
                • Other info: 1, 2, 3-year fixed rate home loans for OO customers on P&I repayments with a Premier Advantage Package cut to 2.29% p.a. 

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