RBA rate cut July: Who’s passing on another cut?

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on July 02, 2019
RBA rate cut July: Who’s passing on another cut?

For the second month in a row, Australia’s cash rate has been cut, but fewer banks and lenders are expected to fully pass on this month’s cut to home loan interest rates. Savings.com.au will keep you updated with the latest rate cut announcements.

The Reserve Bank of Australia (RBA) followed up last month’s cut (the first in nearly three years) with another 25 basis point (0.25% point) reduction this month from 1.25% to 1.00%.

Savings.com.au will provide regular updates below of which lenders are announcing they are passing on this July rate cut to home loans.

Current low rate home loans

You can also see how your loan’s interest rate compares with some of the current sharpest home loan rates Savings.com.au has found on offer across the big four banks, the top 10 customer-owned institutions and 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
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 25, 2022. View disclaimer.

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          Which banks will cut interest rates?

          All cuts below refer to lenders’ responses to the RBA’s July rate cut. 
          Check out the October RBA Rate Cut page to see the latest rate cut announcements.

          Last updated: 01/08/19

          Note: P&I = Principal and Interest, IO= Interest Only, OO=Owner-occupiers

          Please also note that 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 June cash rate cut were passed on) and currently available.

          Adelaide Bank interest rate cut

          AMP interest rate cut

          ANZ Bank interest rate cut

          Athena interest rate cut

          Australian Unity interest rate cut

          Auswide Bank interest rate cut

          Bank Australia interest rate cut

          BankFirst interest rate cut

          Bank of Melbourne interest rate cut

          Bank of Sydney interest rate cut

          BankSA interest rate cut

          BankVic interest rate cut

          Bankwest interest rate cut

          BCU interest rate cut

          Bendigo Bank interest rate cut

          Beyond Bank interest rate cut

          Bank of Queensland interest rate cut

          Citi interest rate cut

          Commonwealth Bank interest rate cut

          Credit Union SA interest rate cut

          CUA interest rate cut

          Defence Bank interest rate cut

          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

          HomeStart Finance interest rate cut

          Horizon Credit Union interest rate cut

          HSBC interest rate cut

          Hume Bank interest rate cut

          Hunter United interest rate cut

          IMB Bank interest rate cut

          ING interest rate cut

          Liberty interest rate cut

          Loans.com.au interest rate cut

          Macquarie Bank interest rate cut

          ME Bank interest rate cut

          Mortgage House interest rate cut

          MOVE Bank interest rate cut

          MyState interest rate cut

          NAB interest rate cut

          Newcastle Permanent interest rate cut

          P&N Bank interest rate cut

          People’s Choice CU interest rate cut

          Pepper Money interest rate cut

          Police Bank interest rate cut

          Police Credit Union interest rate cut

          QBank interest rate cut

          Qudos Bank interest rate cut

          RACQ Bank interest rate cut

          RAMS interest rate cut

          Reduce Home Loans interest rate cut

          Resimac interest rate cut

          SCU interest rate cut

          State Custodians interest rate cut

          St. George Bank interest rate cut

          Suncorp interest rate cut

          Teachers Mutual Bank interest rate cut

          The Mutual Bank interest rate cut

          TicToc interest rate cut

          UBank interest rate cut

          Unibank interest rate cut

          Unity Bank interest rate cut

          Virgin Money interest rate cut

          Westpac interest rate cut

          Adelaide Bank interest rate cut

          • Rate cut: 15-20 basis points (0.15-0.20% points)
          • Applies to: New and existing home loan customers including
            • Variable OO P&I home loan rates (20 points)
            • Variable OO IO home loan rates (20 points)
            • Variable investor P&I home loan rates (15 points)
            • Variable investor IO home loan rates (15 points)
          • Announcement date: 05 July 2019
          • Effective date: 29 July 2019 (27 days after RBA decision)
          • June rate cut: 15-20 basis points (0.15-0.20% points)
          • New lowest advertised variable rate: 3.32% (3.36% comparison rate*) for OO P&I borrowers with LVR under 90%
          • Other info: 

          AMP Bank interest rate cut

          • Rate cut: 20 basis points (0.20% points)
          • Applies to: All variable rate home loans
          • Announcement date: 05 July 2019
          • Effective date: 22 July 2019 (20 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.74% (3.77% comparison rate*) for OO P&I borrowers with up to 90% LVR
          • Other info: AMP will also cut two and three-year fixed rate home loans by up to 53 points

          ANZ Bank interest rate cut

          • Rate cut: 25 basis points (0.25% points)
          • Applies to: All variable interest rates for Australian home and residential investment loans
          • Announcement date: 2 July 2019
          • Effective date: 12 July 2019 (10 days after RBA decision)
          • June rate cut: 18 basis points (0.18% points)
          • New lowest advertised variable rate: 3.38%pa (3.42%pa comp rate*) for OO P&I borrowers with up to 80% LVR
          • Other info: 

          Athena interest rate cut

          • Rate cut: 25 basis points (0.25% points)
          • Applies to: Both existing and new customers.
          • Announcement date: 02 July 2019
          • Effective date: 02 July 2019 (0 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.09% p.a. (3.05%pa comp rate*) for OO P&I with up to 80% LVR
          • Other info: 

          Australian Unity interest rate cut

          • Rate cut: 20 basis points (0.20% points)
          • Applies to:  Existing variable owner occupier home loan and Wealth Builder investor loan rates
          • Announcement date: 05 July 2019
          • Effective date: 30 July 2019 (28 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.24% p.a. (3.27% p.a. comparison rate*) for OO P&I customers with up to 80% LVR  
          • Other info: 

          Auswide Bank interest rate cut

          • Rate cut: 10-25 basis points (0.10-0.25% points)
          • Applies to:  New and existing customers:
            • ‘RBA Rate Tracker Home Loan’ (25 basis points)
            • Owner occupiers and investors with P&I repayments (18 basis points)
            • IO home loans (10 basis points)
          • Announcement date: 02 July 2019 (‘Rate Tracker Home Loan’ rate cut), 08 July 2019 (other cuts)
          • Effective date: 02 July 2019 (‘Rate Tracker Home Loan’ rate cut), 30 July 2019 (other cuts)
          • June rate cut: 25 basis points for all variable P&I home loan customers (0.25% points)
          • New lowest advertised variable rate: 3.49% p.a. (3.51%pa comp rate*) for OO P&I borrowers with up to 80% LVR
          • Other info: 

          Bank Australia interest rate cut

          • Rate cut: 16 basis points (0.16% points)
          • Applies to:  All owner occupier home loan and investment loan customers
          • Announcement date: 04 July 2019
          • Effective date: 22 July 2019 (20 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.35% (3.36% comparison rate*) for OO P&I borrowers with LVR under 80%
          • Other info: 

          BankFirst interest rate cut

          • Rate cut: 13-25 basis points (0.13-0.25% points)
          • Applies to:  Various OO and Investor home loans:
            • 0.25% p.a. reduction on Standard Home Loan.
            • 0.13% p.a. reduction on Premier Package Home Loan.
            • 0.13% p.a. reduction on Complete Home Loan.
            • 0.13% p.a. reduction on First Rate Home Loan.
            • Up to 0.25% p.a. reductions on other variable Home Loan rates.
            • Up to 0.25% p.a. reductions on fixed Home Loan rates.
          • Announcement date: 10 July 2019
          • Effective date: 26 July 2019 (24 days after RBA decision)
          • June rate cut: 7-30 basis points (0.07-0.30% points)
          • New lowest advertised variable rate: 3.52% (3.57% comp. rate) for owner occupiers with LVR of 80% or less
          • Other info: 

          Bank of Melbourne interest rate cut

          • Rate cut: 20-30 basis points (0.20-0.30% points)
          • Applies to: New and existing home loan customers:
            • Variable OO P&I home loans (20 points)
            • Variable residential investment property loan P&I (20 points)
            • Variable OO IO home loans (20 points)
            • Variable residential investment property loan IO (30 points)
          • Announcement date: 02 July 2019
          • Effective date: 16 July 2019 (14 days after RBA decision)
          • June rate cut: 20-35 basis points (0.20-0.35% points)
          • New lowest advertised variable rate: 3.39% (3.41% comparison rate*) for Basic Promo Variable P&I 60%.
          • Other info: 

          Bank of Sydney interest rate cut

          • Rate cut: 19 basis points (0.19% points)
          • Applies to:  Standard variable rate for all home loans (OO and Investor, P&I and IO)
          • Announcement date: 05 July 2019
          • Effective date: 23 July 2019 (21 days after RBA decision)
          • June rate cut: 20-25 basis points (0.20-0.25% points)
          • New lowest advertised variable rate: 3.11% p.a. (3.13% p.a. comparison rate*) for OO P&I customers with up to 90% LVR  
          • Other info: 

          Bank of Queensland interest rate cut

          • Rate cut: 15 basis points (0.15% points)
          • Applies to:  All variable home loan interest rates
          • Announcement date: 04 July 2019
          • Effective date: 23 July 2019 (21 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.59% p.a. (3.75% p.a. comparison rate*) for OO P&I borrowers with up to 80% LVR.
          • Other info: Also offering 2-year introductory rate of 3.39% p.a. (3.91% p.a. comparison rate*)

          BankSA interest rate cut

          • Rate cut: 20-30 basis points (0.20-0.30% points)
          • Applies to: New and existing home loan customers:
            • Variable OO P&I home loans (20 points)
            • Variable residential investment property loan P&I (20 points),
            • Variable OO IO home loans (20 points)
            • Variable residential investment property loan IO (30 points)
          • Announcement date: 02 July 2019
          • Effective date: 16 July 2019 (14 days after RBA decision)
          • June rate cut: 20-35 basis points (0.20-0.35% points)
          • New lowest advertised variable rate: 3.39% (3.41% comparison rate*) for Basic Promo Variable P&I with 95% LVR or less.
          • Other info: 

          BankVic interest rate cut

          • Rate cut: 15 basis points (0.15% points)
          • Applies to: All owner-occupied and investor home loans
          • Announcement date: 09 July 2019
          • Effective date: 16 July 2019 (14 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.48% (3.52% comparison rate*) for OO P&I borrowers
          • Other info: 

          Bankwest interest rate cut

          • Rate cut: 19 basis points (0.19% points)
          • Applies to: All standard variable and Investor variable mortgages
          • Announcement date: 04 July 2019
          • Effective date: 23 July 2019 (21 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.80% p.a. (3.82% p.a. comparison rate*) for OO P&I borrowers with up to 90% LVR  
          • Other info: 

          BCU interest rate cut

          • Rate cut: 20-25 basis points (0.20-0.25% points)
          • Applies to: New and existing variable home loan customers:
            • Owner Occupied Standard Variable Rate (25 points)
            • Owner Occupied Maximum Discounted Variable Rate (25 points)
            • Investment Standard Variable Rate (25 points)
            • Investment Maximum Discounted Variable Rate (25 points)
            • OO OMG loan (20 points)
            • Investment OMG loan (20 points)
          • Announcement date: 04 July 2019
          • Effective date: 01 August 2019 (30 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.34% (3.38% comparison rate*) for OO P&I borrowers with up to 80% LVR
          • Other info: 

          Bendigo Bank interest rate cut

          • Rate cut: 15-20 basis points (0.15-0.20% points)
          • Applies to: New and existing home loan customers including
            • Variable OO P&I home loan rates (20 points)
            • Variable OO IO home loan rates (20 points)
            • Variable investor P&I home loan rates (15 points)
            • Variable investor IO home loan rates (15 points)
          • Announcement date: 05 July 2019
          • Effective date: 29 July 2019 (27 days after RBA decision)
          • June rate cut: 15-20 basis points (0.15-0.20% points)
          • New lowest advertised variable rate: 3.29% p.a. (3.45% p.a. comparison rate*) for OO P&I borrowers with up to 95% LVR
          • Other info: 

          Beyond Bank interest rate cut

          • Rate cut: 17 basis points (0.17% points)
          • Applies to: Variable rate home loans (new and existing) 
          • Announcement date: 10 July 2019
          • Effective date: 23 July 2019 (21 days after RBA decision)
          • June rate cut: 15-25 basis points (0.15-0.25% points)
          • New lowest advertised variable rate: 3.47% p.a. (3.47% p.a. comparison rate*) for OO P&I customers with up to 80% LVR
          • Other info: 

          Citi interest rate cut

          • Rate cut: 18 basis points (0.18% points)
          • Applies to: All residential variable rate home loan products, excluding Lines of Credit facilities which will reduce by 0.15%
          • Announcement date: 08 July 2019
          • Effective date: 23 July 2019 (21 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.21% p.a. (3.24% p.a. comparison rate*) for OO P&I borrowers with up to 80% LVR
          • Other info: 

          Commonwealth Bank interest rate cut

          • Rate cut: 19-25 basis points (0.19-0.25% points)
          • Applies to: New and existing home loan customers:
            • OO P&I standard variable rate home loans (19 points)
            • Investor P&I standard variable rate home loans (19 points)
            • OO IO standard variable rate home loans (25 points)
            • Investor IO standard variable rate home loans (25 points)
          • Announcement date: 02 July 2019
          • Effective date: 23 July 2019 (21 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.35% p.a. (3.36% p.a. comparison rate*) for OO P&I borrowers with up to 70% LVR  
          • Other info: 

          Credit Union SA interest rate cut

          • Rate cut: 20 basis points (0.20% points)
          • Applies to: All new and existing variable rate home loans with the exceptions of:
            • New and existing OO IO home loans (10 points)
            • Existing lines of credit and home equity accounts (10 points)
            • Variable Package Special Offer rates (not yet announced)
          • Announcement date: 12 July 2019
          • Effective date: 24 July 2019 (22 days after RBA decision)
          • June rate cut: 20 basis points (0.20% points)
          • New lowest advertised variable rate: 3.59% (3.61% comparison rate*) for OO P&I borrowers with up to 80% LVR
          • Other info: No existing rates for home loans will be reduced below the new Variable Package Special Offer rate.

          CUA interest rate cut

          • Rate cut: 17 basis points (0.17% points)
          • Applies to: All variable CUA home loan products, excluding CUA Rate Breaker
          • Announcement date: 04 July 2019
          • Effective date: 10 July 2019 (8 days after RBA decision)
          • June rate cut: 10-25 basis points (0.10-0.25% points)
          • New lowest advertised variable rate: 3.33%pa (3.38%pa comp rate) for OO P&I borrowers with up to 90% LVR
          • Other info: CUA Rate Breaker members will receive rate reductions in line with the relevant terms and conditions for that product.  

          Defence Bank interest rate cut

          • Rate cut: 19 basis points (0.19% points)
          • Applies to: All and new variable rate home loans
          • Announcement date: 05 July 2019
          • Effective date: 17 July 2019 (15 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.51% (3.51% comparison rate*) for OO P&I customers
          • Other info:

          G&C Mutual Bank interest rate cut

          • Rate cut: 10-20 basis points (0.10-0.20% points)
          • Applies to: Variable and investment home loans for new and existing customers
          • Effective date: 01 August 2019 for existing customers (30 days after RBA decision), 15 July 2019 for new customers (13 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.49% (3.52% comparison rate*) for OO P&I borrowers with up to 80% LVR
          • Other info: 

          Gateway Bank interest rate cut

          • Rate cut: Up to 20 basis points (0.20% points)
          • Applies to: Variable and investment home loans
          • Effective date: 23 July 2019 (27 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.19% p.a. (3.22% p.a. comparison rate*) for OO P&I borrowers with up to 95% LVR
          • Other info: 

          Greater Bank interest rate cut

          • Rate cut: 15-25 basis points (0.15-0.25% points)
          • Applies to: Existing variable OO home loans (25 points) and Investor home loans (15 points)
          • Announcement date: 03 July 2019
          • Effective date: 29 July 2019 (27 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.47% p.a. (3.48% p.a. comparison rate*) for OO P&I customers with up to 90% LVR
          • Other info: 

          Heritage Bank interest rate cut

          • Rate cut: 15 basis points (0.15% points)
          • Applies to: Variable home loan rates
          • Announcement date: 05 July 2019
          • Effective date: 18 July 2019 (16 days after RBA decision)
          • June rate cut: 20 basis points (0.20% points)
          • New lowest advertised variable rate: 3.42% (3.47% comparison rate*) for OO P&I customers with up to 80% LVR
          • Other info: Heritage will also cut its fixed rate home loans by up to 30 points, variable personal loans by 25 points and credit cards by 25 points

          Homestar Finance interest rate cut

          • Rate cut: 25 basis points (0.25% points)
          • Applies to: Standard variable home loan rates for all customers
          • Announcement date: 02 July 2019
          • Effective date: 02 July 2019 (0 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 2.99% (2.99% comp rate*) for OO P&I new customers with up to 80% LVR 
          • Other info: 

          Homestart Finance interest rate cut

          • Rate cut: 20 basis points (0.20% points)
          • Applies to: Standard variable interest rate
          • Announcement date: 05 July 2019
          • Effective date: 18 July 2019 (16 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 4.94% (5.01% comparison rate*) for OO P&I borrowers with up to 95% LVR  
          • Other info: 

          Horizon Credit Union interest rate cut

          • Rate cut: 20 basis points (0.20% points)
          • Applies to: All variable rate mortgages
          • Announcement date: 12 July 2019
          • Effective date: 15 July 2019 (13 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.84% p.a. (4.01% p.a. comparison rate*) for OO P&I customers with up to 95% LVR.  
          • Other info: 

          HSBC interest rate cut

          • Rate cut: 20 basis points (0.20% points)
          • Applies to: All variable home loan rates for new and existing customers (OO and investors)
          • Announcement date: 04 July 2019
          • Effective date: 22 July 2019 (20 days after RBA decision)
          • June rate cut: 22 basis points (0.22% points)
          • New lowest advertised variable rate: 3.27% (3.28% comparison rate*) for OO P&I customers with up to 80% LVR.  
          • Other info: 

          Hume Bank interest rate cut

          • Rate cut: 10-15basis points (0.10-0.15% points)
          • Applies to: Variable rate home loans including
            • Standard and basic variable rate OO P&I products (15 points)
            • Flex Low Rate home loan (10 points)
            • Variable rate investment P&I products (10 points)
          • Announcement date: 15 July 2019
          • Effective date: 01 August 2019 (30 days after RBA decision)
          • June rate cut: 10-20 basis points (0.10-0.20% points)
          • New lowest advertised variable rate: 3.39% (3.39% comparison rate*) for OO P&I borrowers with up to 95% LVR  
          • Other info: 

          Hunter United interest rate cut

          • Rate cut: 5-20 basis points (0.05-0.20% points)
          • Applies to: Variable home loans:
            • No Regrets 1st Home Buyers Loan (20 points)
            • No Regrets Home Loan (20 points)
            • Platinum Home Loan (10 points)
            • Platinum Investment Home Loan (7 points)
            • Green Home Loan Special (10 points)
            • Basic Home Loan (5 points)
          • Announcement date: 05 July 2019
          • Effective date: 12 July 2019 (10 days after RBA decision)
          • June rate cut: 25 basis points on variable home loans (0.25% points)
          • New lowest advertised variable rate: 3.27%pa (3.37%pa comp rate*) for OO P&I first home buyers with up to 90% LVR  
          • Other info: 

          IMB Bank interest rate cut

          • Rate cut: 18 basis points (0.18% points)
          • Applies to: Variable home loan interest rates for both OO and investor borrowers
          • Announcement date: 05 July 2019
          • Effective date: 25 July 2019 (23 days after RBA decision)
          • June rate cut: 25 basis points on residential and business lending products
          • New lowest advertised variable rate: 3.36% p.a. (3.39% p.a. comparison rate*) for OO P&I customers with up to 90% LVR  
          • Other info: 

          ING interest rate cut

          • Rate cut: 20 basis points (0.20% points)
          • Applies to: All variable home loan rates for new and existing customers
          • Announcement date: 03 July 2019
          • Effective date: 18 July 2019 (16 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.14% (3.17% comparison rate) for OO P&I customers borrowing $1million+ with up to 80% LVR
          • Other info: 

          Liberty interest rate cut

          • Rate cut: 19 basis points (0.19% points)
          • Applies to: Existing variable home loan customers
          • Announcement date: 04 July 2019
          • Effective date: 23 July 2019 (21 days after RBA decision)
          • June rate cut: 25 basis points for existing customers (0.25% points)
          • New lowest advertised variable rate: 3.50% p.a (3.57% p.a. comparison rate*) for OO P&I borrowers with up to 65% LVR  
          • Other info: 

          Loans.com.au interest rate cut

          • Rate cut: 25 basis points (0.25% points)
          • Applies to: All existing and new variable home loan customers
          • Announcement date: 03 July 2019
          • Effective date: 26 July 2019 for all existing customers (24 days after RBA decision)
          • June rate cut: 20 basis points (0.20% points)
          • New lowest advertised variable rate: 3.03%pa (3.05%pa comp rate*) for OO P&I borrowers with up to 80% LVR
          • Other info: 

          Macquarie Bank interest rate cut

          • Rate cut: 20 basis points (0.20% points)
          • Applies to: “Standard variable home loan rates”
          • Announcement date: 2 July 2019
          • Effective date: 18 July 2019 for existing loans (16 days after RBA decision), 05 July for new loans (3 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.24%pa (3.24%pa comp rate*) for OO P&I borrowers with up to 70% LVR 
          • Other info: Macquarie will also cut fixed home loan rates by 40 basis points from 05 July 2019

          ME Bank interest rate cut

          • Rate cut: 15 basis points (0.15% points)
          • Applies to: All existing variable home loan customers
          • Announcement date: 03 July 2019
          • Effective date: 23 July 2019 (21 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.57% p.a. (3.59% p.a. comparison rate*) for OO P&I borrowers with up to 80% LVR 
          • Other info:

          Mortgage House interest rate cut

          • Rate cut: 15-50 basis points (0.15-0.50% points)
          • Applies to:  Various loans for new customers:
            • OO P&I variable loans (20-50 points)
            • Investor P&I (40 points)
            • Investor IO (15 points)
          • Announcement date: n/a
          • Effective date: 19 July 2019 (17 days after RBA decision)
          • June rate cut: 10-70 basis points (0.10-0.70% points)
          • Lowest advertised variable rate: 2.99% (3.22% comparison rate*) for OO P&I customers with up to 60% LVR.   
          • Other info: Existing customer rate cuts were not publicly disclosed

          Move Bank interest rate cut

          • Rate cut: 20-30 basis points (0.15% points)
          • Applies to: A number of home loans for new and existing customers:
            • Standard Variable Home Loan, myHome Package, Economy Home Loan and First Home Loan Variable interest rates will be reduced by 0.20% points
            • Straightforward Home Loan will be reduced by 0.25% points
            • First Home Loan- Special 1Y Introductory Fixed Rate will be reduced by 0.30% points
            • Wealth Builder Loan, Standard Variable Investment Loan and myWealth Package will be reduced by 0.20% points
          • Announcement date: 15 July 2019
          • Effective date: 01 August 2019 for existing customers (30 days after RBA decision), 17 July 2019 for new customers (15 days after RBA decision)
          • June rate cut: up to 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.24% (3.28% comparison rate*) for new OO P&I customers with up to 95% LVR.   
          • Other info:

          MyState interest rate cut

          • Rate cut: 20 basis points (0.20% points)
          • Applies to: New and existing loans
          • Announcement date: 05 July 2019
          • Effective date: 15 July 2019 for new loans (13 days after RBA decision) and 29 July 2019 for existing loans (27 days after RBA decision)
          • June rate cut: 20 basis points (0.20% points)
          • New lowest advertised variable rate: 3.58% (3.61% comp. rate) on Basic Variable home loan for new customers
          • Other info: Interest-only loans will decrease by 10 points for both new and existing loans.

          NAB interest rate cut

          • Rate cut: 19 basis points (0.19% points)
          • Applies to: New and existing customers on variable loans (OO and Investor, P&I and IO)
          • Announcement date: 2 July 2019
          • Effective date: 12 July 2019 (10 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.35% pa (3.39% pa comp rate*) for OO P&I borrowers with up to 80% LVR
          • Other info: 

          Newcastle Permanent interest rate cut

          • Rate cut: 25 basis points (0.25% points)
          • Applies to: All home loan products including OO, IO and Investment home loans.
          • Announcement date: 3 July 2019
          • Effective date: 29 July 2019 (27 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.49% p.a. (3.53% p.a. comp rate*) for OO P&I borrowers with up to 90% LVR
          • Other info: 

          P&N Bank interest rate cut

          • Rate cut: Up to 18 basis points (0.18% points)
          • Applies to: Variable rate home loans
          • Announcement date: 05 July 2019
          • Effective date: 23 July 2019 (21 days after RBA decision)
          • June rate cut: 18 basis points on most variable home loans (0.18% points)
          • New lowest advertised variable rate: 3.63% p.a. (3.63% p.a. comparison rate*) for OO P&I borrowers with LVR under 90%   
          • Other info: 

          People’s Choice CU interest rate cut

          • Rate cut: 15 basis points (0.15% points)
          • Applies to: Standard variable home loan rates for existing members
          • Announcement date: 05 July 2019
          • Effective date: 23 July 2019 (21 days after RBA decision)
          • June rate cut: 25 basis points on standard variable home loan rates for existing members and variable business loan rates
          • New lowest advertised variable rate: 4.07% p.a. (4.12% p.a. comparison rate*) for OO P&I borrowers with up to 80% LVR   
          • Other info: Various business loan rates will also be cut by 15 basis points.

          Pepper Money interest rate cut

          • Rate cut: 20 basis points (0.20% points)
          • Applies to: Existing customers on variable rate home loans
          • Announcement date: 09 July 2019
          • Effective date: 22 July 2019
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.36% (3.56% comparison rate*) for OO P&I borrowers with up to 90% LVR   
          • Other info: 

          Police Bank interest rate cut

          • Rate cut: 15 basis points (0.15% points)
          • Applies to: All variable rate OO home loans except the Goldrate Home Loans.
          • Announcement date: 10 July 2019
          • Effective date: Not announced
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 
          • Other info: 

          Police Credit Union interest rate cut

          • Rate cut: 15 basis points (0.15% points)
          • Applies to: All variable home and investment term loan interest rates.
          • Announcement date: 12 July 2019
          • Effective date: 12 August 2019 (41 days after RBA’s decision)
          • June rate cut: 15-25 basis points (0.15-0.25% points)
          • New lowest advertised variable rate: 
          • Other info: 

          QBank interest rate cut

          • Rate cut: 20 basis points (0.20% points)
          • Applies to: Variable rate home loan products for owner occupiers and investors.
          • Announcement date: 11 July 2019
          • Effective date: 25 July 2019 (23 days after RBA’s decision)
          • June rate cut: 18 basis points (0.18% points)
          • New lowest advertised variable rate: 3.46% (3.49% comparison rate*) for OO P&I borrowers with up to 95% LVR  
          • Other info: 

          Qudos Bank interest rate cut

          • Rate cut: 15 basis points (0.15% points)
          • Applies to: All existing and new variable rate home loans
          • Announcement date: 05 July 2019
          • Effective date: 16 July 2019 (14 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.29% (3.29% comparison rate*) for OO P&I borrowers with up to 80% LVR  
          • Other info: 

          RACQ Bank interest rate cut

          • Rate cut: 25 basis points (0.25% points)
          • Applies to: All variable home loans
          • Announcement date: 3 July 2019
          • Effective date: 10 August 2019 (8 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.19% p.a. (3.19% p.a. comparison rate*) for OO P&I borrowers with up to 95% LVR
          • Other info: 

          RAMS interest rate cut

          • Rate cut: 20-30 basis points (0.20-0.30% points)
          • Applies to: New and existing home loan customers:
            • Variable OO P&I home loans (20 points)
            • Variable residential investment property loan P&I (20 points)
            • Variable OO IO home loans (20 points)
            • Variable residential investment property loan IO (30 points)
          • Announcement date: 2 July 2019
          • Effective date: 16 July 2019 (14 days after RBA decision)
          • June rate cut: 20-35 basis points (0.20-0.35% points)
          • New lowest advertised variable rate: 4.11% (4.17% comparison rate*) for OO P&I borrowers with up to 95% LVR
          • Other info: 

          Reduce Home Loans interest rate cut

          • Rate cut: Up to 22 basis points (0.22% points)
          • Applies to: Some loans for new and existing customers
          • Announcement date: 02 July 2019 (for new customers), 17 July 2019 (for existing customers)
          • Effective date: 15 August 2019 for existing customers (44 days after RBA decision), 02 July 2019 for new customers
          • June rate cut: 25 basis points (0.25% points) (effective 22 July for existing customers)
          • New lowest advertised variable rate: 2.89% (2.89% comp rate*) for OO P&I borrowers with up to 80% LVR 
          • Other info: 

          Resimac interest rate cut

          • Rate cut: 25 basis points (0.25% points)
          • Applies to: Prime and specialist mortgages
          • Announcement date: 02 July 2019
          • Effective date: 24 July 2019 (22 days after RBA decision)
          • June rate cut: not publicly disclosed
          • New lowest advertised variable rate: 3.40% (3.45% comparison rate*) for OO P&I borrowers with up to 80% LVR 
          • Other info: 

          SCU interest rate cut

          • Rate cut: 20 basis points (0.20% points)
          • Applies to: “All variable rate mortgage secured loans”
          • Announcement date: 15 July 2019
          • Effective date: 01 August 2019 for existing customers (30 days after RBA decision), 10 July 2019 for new customers (8 days after RBA decision)
          • June rate cut: 20-25 basis points (0.20-0.25% points)
          • New lowest advertised variable rate: 3.37% p.a. (3.42% p.a. comparison rate*) for OO P&I customers  
          • Other info: 

          State Custodians interest rate cut

          • Rate cut: 25 basis points (0.25% points)
          • Applies to: Most home loan products for new and existing customers:
            • Low Rate Home Loan
            • Breathe Easy
            • Peak Performance
            • Standard Variable
            • Specialist Loans
          • Announcement date: 02 July 2019
          • Effective date: 24 July 2019 (22 days after RBA’s decision)
          • New lowest advertised variable rate: 3.15% p.a. (3.17% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR
          • Other info: 

          Suncorp Bank interest rate cut

          • Rate cut: 19 basis points (0.19% points)
          • Applies to: Variable rates for owner-occupiers and investors
          • Announcement date: 03 July 2019
          • Effective date: 19 July 2019 (17 days after RBA decision)
          • June rate cut: 20 basis points (0.20% points)
          • New lowest advertised variable rate: 3.29% (3.30% comparison rate*) for OO P&I borrowers with up to 90% LVR  
          • Other info: 

          St. George interest rate cut

          • Rate cut: 20-30 basis points (0.20-0.30% points)
          • Applies to: New and existing home loan customers:
            • Variable OO P&I home loans (20 points)
            • Variable residential investment property loan P&I (20 points),
            • Variable OO IO home loans (20 points)
            • Variable residential investment property loan IO (30 points)
          • Announcement date: 02 July 2019
          • Effective date: 16 July 2019 (14 days after RBA decision)
          • June rate cut: 20-35 basis points (0.20-0.35% points)
          • New lowest advertised variable rate: 3.38% (3.40% comparison rate) for OO P&I borrowers with LVR under 60%
          • Other info: 

          Teachers Mutual Bank interest rate cut

          • Rate cut: Undisclosed
          • Applies to: A number of its Owner Occupier and Investor variable interest rates for new and existing borrowers
          • Announcement date: 19 July 2019
          • Effective date: 1 August 2019 (30 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.42% (3.46% comparison rate*) for OO P&I borrowers with up to 85% LVR
          • Other info: 

          The Mutual Bank interest rate cut

          • Rate cut: 10-20 basis points (0.10-0.20% points)
          • Applies to: The following variable interest rate loans:
            • Variable OO home loans (10 points)
            • Variable investment home loans (20 points)
          • Announcement date: 03 July 2019
          • Effective date: 19 July 2019 (17 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.98% (3.98% comparison rate*) for OO P&I borrowers with up to 90% LVR 
          • Other info: 

          TicToc interest rate cut

          • Rate cut: Up to 20 basis points (0.20% points)
          • Applies to: New and existing customers
          • Announcement date: 05 July 2019
          • Effective date: 05 July for new customers (3 days after RBA decision)
          • June rate cut: Up to 20 basis points (0.20% points)
          • New lowest advertised variable rate: 3.07%pa (3.08%pa comp rate*) for OO P&I borrowers with up to 80% LVR
          • Other info: Effective date for existing customers not confirmed

          UBank interest rate cut

          • Rate cut: 25 basis points (0.25% points)
          • Applies to: All variable rate home loans
          • Announcement date: 05 July 2019
          • Effective date: 02 August 2019 (31 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.09% p.a. (3.09% p.a. comp rate*)
          • Other info: 

          UniBank interest rate cut

          • Rate cut: Undisclosed
          • Applies to: A number of its Owner Occupier and Investor variable interest rates for new and existing borrowers
          • Announcement date: 19 July 2019
          • Effective date: 01 August 2019 (30 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.42% (3.46% comparison rate*) for OO P&I borrowers with up to 85% LVR  
          • Other info: 

          Unity Bank interest rate cut

          • Rate cut: 15 basis points (0.15% points)
          • Applies to: All new and existing variable OO and investment home loans
          • Announcement date: 18 July 2019
          • Effective date: 01 August 2019 (30 days after RBA decision)
          • June rate cut: 15-18 basis points (0.15-0.18% points)
          • New lowest advertised variable rate: 3.66% (3.71% comparison rate*) for OO P&I borrowers with up to 80% LVR   
          • Other info: 

          Virgin Money interest rate cut

          • Rate cut: 15 basis points (0.15% points)
          • Applies to: Standard variable home loan rate
          • Announcement date: 04 July 2019
          • Effective date: 23 July 2019 (21 days after RBA decision)
          • June rate cut: 25 basis points (0.25% points)
          • New lowest advertised variable rate: 3.33% p.a. (3.47% p.a. comparison rate*) for OO P&I borrowers with up to 60% LVR  
          • Other info: 

          Westpac interest rate cut

          • Rate cut: 20-30 basis points (0.20-0.30% points)
          • Applies to: New and existing home loan customers:
            • Variable OO P&I home loans (20 points)
            • Variable residential investment property loan P&I (20 points),
            • Variable OO IO home loans (20 points)
            • Variable residential investment property loan IO (30 points)
          • Announcement date: 02 July 2019
          • Effective date: 16 July 2019 (14 days after RBA decision)
          • June rate cut: 20-35 basis points (0.20%-0.35% points)
          • New lowest advertised variable rate: 3.58% (3.59% comparison rate*) for new OO P&I customers
          • Other info:

          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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          author-avatar
          Dominic Beattie is the Editor of Savings.com.au. He has been publishing articles on finance, business and economics since 2015, having previously worked at financial research firm and comparison site Canstar before helping to launch Savings.com.au in November 2018. Dominic's commentary has featured in various news outlets, including: Channel 7 News, News.com.au, Yahoo Finance Australia, Domain, Realestate.com.au, Daily Mail and Radio 2NURFM.

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