RBA rate cut March: Home loan rate cut announcements

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on March 12, 2020
RBA rate cut March: Home loan rate cut announcements

In wake of this month's cash rate cut, Savings.com.au will keep you across the home loan rate cut announcements from some of the nation’s most popular lenders.

***BREAKING NEWS***

19/03/2020: Australia's central bank has taken emergency measures to cut the cash rate a second time this month down to 0.25%. Track the home loan rate cut announcements for this latest cut here.

***

The Reserve Bank of Australia (RBA) cut the cash rate for the first time since October, lowering it by another 25 basis points to a new record low of 0.50%.

Stay tuned to this page for regular updates below of which lenders are announcing they are passing on some or all of this March 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
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ZERO APPLICATION FEESFEE FREE OFFSET
  • We lower your rate based off how much you’ve paid down your loan
  • Automatic rate match
  • No upfront or ongoing fees
  • The shorter your loan, the less interest you pay in the long run.
ZERO APPLICATION FEESFEE FREE OFFSET

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

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

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

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

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

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

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

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

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

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

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

    Variable
    More details
    EASY DIGITAL APPLICATION
    EASY DIGITAL APPLICATION

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

      Variable
      More details
      $0 APPLICATION FEE
      $0 APPLICATION FEE

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

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

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

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

          Smart Booster Home Loan Discounted Variable - 1yr

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

          Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of June 25, 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 March rate cut. To see how these rate cuts compare with previous months’, check out our JuneJuly and October rate cut pages.

          Last updated: 9:31 AM AEDT 20/03/20

          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

          AMP interest rate cut

          ANZ interest rate cut

          Athena interest rate cut

          Aussie Home Loans interest rate cut

          Auswide Bank interest rate cut

          Australian Military Bank interest rate cut

          Australian Unity interest rate cut

          Bank Australia interest rate cut

          Bankfirst interest rate cut

          Bank of Melbourne interest rate cut

          Bank of Sydney interest rate cut

          Bank of Us interest rate cut

          Bank SA interest rate cut

          BankVic interest rate cut

          Bankwest interest rate cut

          BCU interest rate cut

          Bendigo and Adelaide Bank interest rate cut

          Beyond Bank interest rate cut

          BOQ interest rate cut

          Citi interest rate cut

          Commonwealth Bank interest rate cut

          Community First CU interest rate cut

          Credit Union SA interest rate cut

          CUA interest rate cut

          Defence Bank interest rate cut

          Firstmac interest rate cut

          Freedom Lend 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

          HSBC interest rate cut

          Hume Bank interest rate cut

          Hunter United interest rate cut

          Illawarra Credit Union interest rate cut

          IMB 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

          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

          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

          State Custodians interest rate cut

          St George Bank interest rate cut

          Suncorp interest rate cut

          Sydney Mutual Bank interest rate cut

          Teachers Mutual Bank interest rate cut - pending

          The Mutual Bank interest rate cut

          TicToc interest rate cut

          UBank interest rate cut

          UniBank interest rate cut - pending

          Unity Bank interest rate cut - pending

          Virgin Money interest rate cut

          Westpac interest rate cut

          Stay up to date with the latest rate changes

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          86 400 interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All variable rate home loans (new and existing, owner-occupier and investor)
          • Announcement date: 03 March 2020
          • Effective date: 04 March 2020 (1 day after RBA cut)
          • New lowest advertised variable rate: 2.84% p.a. (3.12% p.a. comp rate*) for OO P&I borrowers
          • Other info:

          AMP interest rate cut

          • Rate cut: 25-64 basis points
          • Applies to: Standard variable home loans and three-year fixed offers 
            • All variable rate home loans to be cut by 25 basis points 
            • Three-year fixed OO P&I interest rate cut by 64 basis points 
          • Announcement date: 05 March 2020
          • Effective date: 30 March (27 days after RBA rate cut)
          • New lowest advertised variable rate:
          • June rate cut: 25 basis points
          • July rate cut: 20 basis points
          • October rate cut: 15 basis points 
          • Other info: 

          ANZ interest rate cut

          • Rate cut: 25-35 basis points
          • Applies to: Standard variable home loans:
            • OO P&I, OO IO, Investor P&I: 25 basis points
            • Investor IO: 35 basis points
          • Announcement date: 03 March 2020
          • Effective date: 13 March (10 days after RBA rate cut)
          • New lowest advertised variable rate: 2.87% p.a. (2.91% comp rate*), Simplicity Plus <80% Special Offer 
          • June rate cut: 18 basis points
          • July rate cut: 25 basis points
          • October rate cut: 14-25 basis points 
          • Other info: 

          Athena interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All variable rate home loans (new and existing, owner-occupier and investor)
          • Announcement date: 03 March 2020
          • Effective date: 03 March 2020 (0 days after RBA rate cut)
          • New lowest advertised variable rate: 2.59% p.a. (2.55% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR
          • June rate cut: 25 basis points
          • July rate cut: 25 basis points 
          • October rate cut: 25 basis points 
          • Other info: 

          Aussie Home Loans interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Aussie Select home loans (Variable OO P&I, OO IO, INV P&I, INV IO)
          • Announcement date: 06 March 2020
          • Effective date: 24 March 2020 (21 days after RBA rate cut)
          • New lowest advertised variable rate: 
          • June rate cut: 
          • July rate cut: 
          • October rate cut:  15-25 basis points
          • Other info: Aussie Activate and Aussie Elevate decisions still pending

          Auswide Bank interest rate cut

          • Rate cut: 25 basis points
          • Applies to: RBA Rate Tracker Home Loan
          • Announcement date: 03 March 2020
          • Effective date: 05 March 2020 (2 days after RBA rate cut)
          • New lowest advertised variable rate: 2.99% p.a. (3.01% p.a. comp rate*)
          • June rate cut: 15-25 basis points
          • July rate cut: 10-25 basis points 
          • October rate cut: 10-25 basis points 
          • Other info:  25 basis point reduction also applies to Low Rate Visa Credit Card

          Australian Military Bank interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Existing variable home loans
          • Announcement date: 05 March 2020
          • Effective date: 26 March 2020 (23 days after RBA rate cut)
          • New lowest advertised variable rate: 
          • June rate cut: 25 basis points
          • July rate cut: 20 basis points
          • October rate cut: 14 basis points
          • Other info:  

          Australian Unity interest rate cut

          • Rate cut: 25 basis points
          • Applies to: "All home loan rates"
          • Announcement date: 06 March 2020
          • Effective date: 24 March 2020 (21 days after RBA rate cut)
          • New lowest advertised variable rate: 
          • June rate cut: 15-18 basis points
          • July rate cut: 15 basis points 
          • October rate cut: 11 basis points
          • Other info: 

          Bank Australia interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All variable rate home loan customers
          • Announcement date: 05 March 2020
          • Effective date: 24 March 2020 (21 days after RBA rate cut)
          • New lowest advertised variable rate: 
          • June rate cut: 25 basis points
          • July rate cut: 16 basis points 
          • October rate cut: 10 basis points
          • Other info: 

          Bankfirst interest rate cut

          • Rate cut: 25 basis points
          • Applies to: First Rate home loan, Standard home loan, Premier Package home loan, Complete home loan and other fixed and variable home loan rates.
          • Announcement date: 05 March 2020
          • Effective date: 25 March 2020 (22 days after RBA rate cut)
          • New lowest advertised variable rate: 
          • June rate cut: 7-30 basis points 
          • July rate cut: 13-25 basis points 
          • October rate cut: 20-25 basis points 
          • Other info: 

          Bank of Melbourne interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All variable rate home loans (owner-occupier and investor)
          • Announcement date: 03 March 2020
          • Effective date: 17 March 2020 (14 days after RBA rate cut)
          • New lowest advertised variable rate: 2.69% p.a. (2.71% p.a. comp rate*), Basic Home Loan
          • June rate cut: 20-35 basis points 
          • July rate cut: 20-30 basis points 
          • October rate cut: 15 basis points 
          • Other info: 

          Bank of Sydney interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All existing Owner Occupier and Investment Home Loans (variable)
          • Announcement date: 06 March 2020
          • Effective date: Not specified
          • New lowest advertised variable rate: 
          • June rate cut: 20-25 basis points 
          • July rate cut: 19 basis points 
          • October rate cut: 15 basis points 
          • Other info: 

          Bank of Us interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All existing Owner Occupier and Investment Home Loans (variable)
          • Announcement date: 06 March 2020
          • Effective date: 1 April 2020 (29 days after RBA rate cut) 
          • New lowest advertised variable rate: 
          • Other info: 

          Bank SA interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All variable rate home loans (owner-occupier and investor)
          • Announcement date: 03 March 2020
          • Effective date: 17 March 2020 (14 days after RBA rate cut)
          • New lowest advertised variable rate: 2.74% p.a. (2.76% p.a. comp rate*), Basic Home Loan
          • June rate cut: 20-35 basis points 
          • July rate cut: 20-30 basis points 
          • October rate cut: 15 basis points 
          • Other info: 

          BankVic interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All variable owner-occupied and investor home loans
          • Announcement date: 05 March 2020
          • Effective date: 5 March 2020 (2 days after RBA rate cut)
          • New lowest advertised variable rate: 3.07% p.a. (3.07% p.a. comp rate*)
          • June rate cut: 25 basis points 
          • July rate cut: 15 basis points 
          • October rate cut: 10-12 basis points 
          • Other info: 

          Bankwest interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All standard variable rate home loans 
          • Announcement date: 04 March 2020
          • Effective date: 18 March 2020 (15 days after RBA rate cut)
          • New lowest advertised variable rate: 3.32% p.a. (3.76% p.a. comp rate*), Complete Variable Home Loan 
          • June rate cut: 25 basis points 
          • July rate cut: 19 basis points 
          • October rate cut: 13-25 basis points
          • Other info: 

          BCU interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All standard variable rate home loans for both owner occupiers and investors
          • Announcement date: 04 March 2020
          • Effective date: 1 April 2020 (29 days after RBA rate cut)
          • New lowest advertised variable rate: 
          • June rate cut: 25 basis points 
          • July rate cut: 20-25 basis points 
          • October rate cut: 15-25 basis points
          • Other info: 

          Bendigo & Adelaide Bank interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All new and existing variable home loan rates
          • Announcement date: 06 March 2020
          • Effective date: 27 March 2020 (24 days after RBA rate cut)
          • 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
          • Other info: 

          Beyond Bank interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All new and existing variable home loan rates
          • Announcement date: 11 March 2020
          • Effective date: 24 March 2020 (21 days after RBA rate cut)
          • New lowest advertised variable rate: 
          • June rate cut: 15-25 basis points
          • July rate cut: 17 basis points
          • October rate cut: 14 basis points
          • Other info: 

          BOQ interest rate cut

          • Rate cut: 17-25 basis points
            • OO P&I and IO loans by 17 basis points 
            • Investor P&I and IO loans by 25 basis points 
          • Applies to: All standard variable rate home loans 
          • Announcement date: 04 March 2020
          • Effective date: 3 April 2020 (31 days after RBA rate cut)
          • New lowest advertised variable rate: 
          • June rate cut: 25 basis points 
          • July rate cut: 15 basis points 
          • October rate cut: 10-25 basis points
          • Other info: 

          Citi interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Variable rate home loans (new and existing, owner-occupier)
          • Announcement date: 04 March 2020
          • Effective date: 24 March 2020 (21 days after RBA cut)
          • New lowest advertised variable rate:
          • June rate cut: 25 basis points 
          • July rate cut: 18 basis points 
          • October rate cut: 15 basis points 
          • Other info: 

          Commonwealth Bank interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All variable rate home loans (new and existing, owner-occupier and investor)
          • Announcement date: 03 March 2020
          • Effective date: 24 March 2020 (21 days after RBA cut)
          • 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 
          • Other info: 

          Community First CU interest rate cut

          • Rate cut: 10-30 basis points
          • Applies to: Variable home loans (at least 10 basis points) and fixed interest rates (10-30 basis points)
          • Announcement date: 05 March 2020
          • Effective date:
            • Variable home loans: 30 March 2020 (27 days after RBA rate cut)
            • Fixed home loans: 18 March 2020 (15 days after RBA rate cut)
          • New lowest advertised variable rate:
          • Other info: 

          Credit Union SA interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Existing variable rate home loans
          • Announcement date: 16 March 2020
          • Effective date: 25 March (22 days after RBA rate cut)
          • June rate cut:  20 basis points
          • July rate cut: 20 basis points
          • October rate cut: 4-26 basis points
          • New lowest advertised variable rate:
          • Other info: 

          CUA interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All variable rate home loans (new and existing, owner-occupier and investor)
          • Announcement date: 04 March 2020
          • Effective date: 24 March 2020 (21 days after RBA cut)
          • New lowest advertised variable rate:
          • June rate cut: 10-25 basis points
          • July rate cut: 17 basis points 
          • October rate cut: 13 basis points 
          • Other info: 

          Defence Bank interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All new and existing variable rate home loans.
          • Announcement date: 03 March 2020
          • Effective date: 12 March 2020 (9 days after RBA rate cut) 
          • New lowest advertised variable rate: 2.80% p.a (2.80% p.a. comp rate*), Premier Low Rate Home Loan
          • June rate cut: 25 basis points
          • July rate cut: 19 basis points
          • October rate cut: 15 basis points
          • Other info: 

          Firstmac interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Existing customers on variable rate home loans (owner-occupier and investor)
          • Announcement date: 03 March 2020
          • Effective date: 26 March 2020 (23 days after RBA rate cut) 
          • New lowest advertised variable rate:
          • Other info: Rate cuts for new customers yet to be confirmed

          Freedom Lend interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Variable rate home loans 
          • Announcement date: 03 March 2020
          • Effective date: 03 March 2020 (0 days after rate cut)
          • New lowest advertised variable rate: 2.54% p.a. (2.51% p.a. comp rate*) for OO P&I customers with up to 80% LVR
          • June rate cut:
          • July rate cut:
          • October rate cut: 25 basis points
          • Other info: 

          G&C Mutual Bank interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All variable home loans (new and existing customers)
          • Announcement date: 10 March 2020
          • Effective date: 1 April 2020 (29 days after rate cut)
          • 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
          • Other info: 

          Gateway Bank interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All variable home loans
          • Announcement date: 09 March 2020
          • Effective date: 23 March 2020 (20 days after rate cut)
          • New lowest advertised variable rate: 
          • June rate cut: 25 basis points
          • July rate cut: 15-25 basis points
          • October rate cut: 14 basis points
          • Other info: 

          Greater Bank interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Variable rate home loans for existing customers
          • Announcement date: 04 March 2020
          • Effective date: 24 March 2020 (20 days after rate cut)
          • New lowest advertised variable rate: 
          • June rate cut: 25 basis points
          • July rate cut: Up to 20 basis points
          • October rate cut: 9-20 basis points
          • Other info: 

          Heritage Bank interest rate cut

          • Rate cut: 20 basis points
          • Applies to: All owner occupier and investor variable home loan rates (new and existing customers)
          • Announcement date: 06 March 2020
          • Effective date: 25 March 2020 (22 days after rate cut)
          • New lowest advertised variable rate: 
          • June rate cut: 20 basis points
          • July rate cut: 15 basis points
          • October rate cut: 15 basis points
          • Other info: Credit card rates, Standard Personal Loan variable rate will also be reduced by 25 basis points

          Homestar Finance interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Variable rate home loans for all customers
          • Announcement date: 03 March 2020
          • Effective date: 1 April (existing customers), 03 March (new customers)
          • New lowest advertised variable rate: 2.44% p.a. (2.47% p.a. comp rate*) for OO P&I customers with up to 60% LVR
          • June rate cut: 25 basis points 
          • July rate cut: 25 basis points
          • October rate cut: 25 basis points 
          • Other info: 

          HSBC interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Variable rate home loans for all customers
          • Announcement date: 04 March 2020
          • Effective date: 23 March 2020
          • New lowest advertised variable rate: 
          • June rate cut: 22 basis points 
          • July rate cut: 20 basis points
          • October rate cut: 15-20 basis points
          • Other info: 

          Hume Bank interest rate cut

          • Rate cut: 20 basis points
          • Applies to: All variable rates for existing customers (owner-occupied, investor and commercial)
          • Announcement date: 05 March 2020
          • Effective date: 18 March 2020 (15 days after RBA rate cut)
          • New lowest advertised variable rate: 2.84% p.a. (2.84% p.a. comp rate*), Flexi Low Rate home loan 
          • June rate cut: 10-20 basis points 
          • July rate cut:10-15 basis points
          • October rate cut: 10-15 basis points
          • Other info: 

          Hunter United interest rate cut

          • Rate cut: 15 basis points
          • Applies to: All variable rates for all principal and interest loans as well as interest only loans for both owner occupiers and investors
          • Announcement date: 06 March 2020
          • Effective date: 13 March 2020 (10 days after RBA rate cut)
          • New lowest advertised variable rate: 2.945 p.a. (3.04% p.a. comp rate*), No Regrets Home Loan OO 
          • June rate cut: 25-41 basis points 
          • July rate cut: 5-20 basis points 
          • October rate cut: Up to 20 basis points
          • Other info: 

          Illawarra interest rate cut

          • Rate cut: 25 basis points
          • Applies to: New and existing borrowers for variable residential owner occupied and investment home loans
          • Announcement date: 09 March 2020
          • Effective date: 1 April 2020 (29 days after rate cut) 
          • New lowest advertised variable rate: 
          • Other info: 

          IMB interest rate cut

          • Rate cut: 25 basis points
          • Applies to: New and existing borrowers for variable residential owner occupied and investment home loans
          • Announcement date: 04 March 2020
          • Effective date: 24 March 2020 (21 days after rate cut) 
          • New lowest advertised variable rate: 
          • June rate cut: 25 basis points 
          • July rate cut: 18 basis points
          • October rate cut: 13 basis points 
          • Other info: 

          ING interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Variable rate home loans for all customers, new and existing
          • Announcement date: 04 March 2020
          • Effective date: 18 March 2020 (15 days after rate cut) 
          • New lowest advertised variable rate: 2.78% p.a. (2.81% p.a. comp rate*), Mortgage Simplifier home loan
          • June rate cut: 25 basis points 
          • July rate cut: 20 basis points
          • October rate cut: 15 basis points 
          • Other info: 

          Liberty interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All new and existing variable rate home loan customers
          • Announcement date: 04 March 2020
          • Effective date: 24 March 2020 (21 days after rate cut)
          • New lowest advertised variable rate: 
          • June rate cut: 25 basis points 
          • July rate cut: 19 basis points
          • October rate cut: 25 basis points 
          • Other info: 

          Loans.com.au interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Existing customers on variable rate home loans (owner-occupier and investor)
          • Announcement date: 03 March 2020
          • Effective date: 26 March 2020 (23 days after RBA rate cut)
          • New lowest advertised variable rate:
          • June rate cut: 20 basis points 
          • July rate cut: 25 basis points
          • October rate cut: 15-20 basis points 
          • Other info: Rate cuts for new customers yet to be confirmed

          Macquarie Bank interest rate cut

          • Rate cut: 25 basis points
          • Applies to: "Home loan customers"
          • Announcement date: 03 March 2020
          • Effective date: 19 March 2020 (16 days after RBA rate cut)
          • New lowest advertised variable rate: 2.84% p.a. (2.84% p.a. comp rate*), Basic Home Loan
          • June rate cut: 25 basis points 
          • July rate cut: 20 basis points
          • October rate cut: 15 basis points 
          • Other info: 

          ME interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All existing owner occupier and investor home loan customers 
          • Announcement date: 04 March 2020
          • Effective date: 26 March 2020 (23 days after RBA rate cut)
          • New lowest advertised variable rate:
          • June rate cut: 25 basis points 
          • July rate cut: 15 basis points
          • October rate cut: 15 basis points 
          • Other info: 

          Mortgage house interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Variable home loans for existing customers 
          • Announcement date: 05 March 2020
          • Effective date: 20 March 2020 (17 days after RBA rate cut)
          • New lowest advertised variable rate: 2.79% p.a. (2.96% p.a. comp rate*), The Essentials Low Rate Home Loan
          • June rate cut: 10-70 basis points 
          • July rate cut: 15-50 basis points
          • October rate cut: N/A
          • Other info: 

          Move Bank interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Variable home loans for existing customers 
          • Announcement date: 12 March 2020
          • Effective date: 1 April 2020 (29 days after RBA rate cut) 
          • 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
          • Other info: 

          MyState interest rate cut

          • Rate cut: 25 basis points
          • Applies to: New and existing home loans
          • Announcement date: 04 March 2020
          • Effective date: 31 March 2020 (28 days after RBA rate cut)
          • New lowest advertised variable rate:
          • June rate cut: 20 basis points 
          • July rate cut: 20 basis points
          • October rate cut: 15 basis points 
          • Other info: 

          NAB interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Existing customers on variable rate home loans (owner-occupier and investor)
          • Announcement date: 03 March 2020
          • Effective date: 13 March 2020 (10 days after RBA rate cut)
          • New lowest advertised variable rate: 2.84% p.a (2.85% p.a. comp rate*), Base Rate Variable Special Offer <80%
          • June rate cut: 25 basis points 
          • July rate cut: 19 basis points
          • October rate cut: 15-30 basis points 
          • Other info: 

          Newcastle Permanent interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All standard variable home loan interest rate customers
          • Announcement date: 03 March 2020
          • Effective date: 24 March 2020 (21 days after RBA rate cut)
          • New lowest advertised variable rate:
          • June rate cut: 25 basis points 
          • July rate cut: 25 basis points
          • October rate cut: 13 basis points 
          • Other info: 

          P&N Bank interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Variable interest rate home loans for both new and existing owner-occupiers and investors.
          • Announcement date: 05 March 2020
          • Effective date: 20 March 2020 (17 days after RBA rate cut)
          • New lowest advertised variable rate: 2.84% p.a. (2.84% p.a. comp rate*), & Basic Home Loan 
          • June rate cut: 18-39 basis points 
          • July rate cut: Up to 18 basis points
          • October rate cut: 16-25 basis points 
          • Other info: 

          People's Choice CU interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Standard variable home loan rates for existing members
          • Announcement date: 05 March 2020
          • Effective date: 17 March 2020 (14 days after RBA rate cut)
          • New lowest advertised variable rate: 2.69% p.a. (2.69% p.a. comp rate*)Basic Variable New Business Home Loan
          • June rate cut: 25 basis points 
          • July rate cut: 15 basis points
          • October rate cut: 14-25 basis points 
          • Other info: 

          Pepper Money interest rate cut

          • Rate cut: Up to 25 basis points
          • Applies to: Standard variable home loan rates for existing members
          • Announcement date: 06 March 2020
          • Effective date: 16 March 2020 (13 days after RBA rate cut)
          • New lowest advertised variable rate: 3.08% p.a. (3.28% p.a. comp rate*), Pepper Essential 
          • June rate cut: 25 basis points 
          • July rate cut: 20 basis points
          • October rate cut: 15-24 basis points 
          • Other info: 

          Police Bank interest rate cut

          • Rate cut: Up to 25 basis points
          • Applies to: All variable home loan rates for existing members
          • Announcement date: 12 March 2020
          • Effective date: 1 April 2020 (29 days after RBA rate cut)
          • New lowest advertised variable rate:
          • June rate cut: Not disclosed
          • July rate cut: 15 basis points
          • October rate cut: Not disclosed 
          • Other info: 

          Police Credit Union interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Select variable home loan rates
          • Announcement date: 16 March 2020
          • Effective date: 3 April 2020 (31 days after RBA rate cut)
          • New lowest advertised variable rate:
          • June rate cut: 15-25 basis points
          • July rate cut: 15 basis points
          • October rate cut: 14 basis points
          • Other info: 

          QBank interest rate cut

          • Rate cut: 18 basis points
          • Applies to: Variable rate home loan products for owner occupiers and investors (existing)
          • Announcement date: 13 March 2020
          • Effective date: 27 March 2020 (24 days after RBA rate cut)
          • New lowest advertised variable rate: 2.83% p.a. (2.83% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR
          • June rate cut: 18 basis points 
          • July rate cut: 20 basis points 
          • October rate cut: 15 basis points 
          • Other info: 

          Qudos Bank interest rate cut

          • Rate cut:25 basis points
          • Applies to: New and existing variable home loan customers
          • Announcement date: 05 March 2020
          • Effective date: 23 March 2020 (20 days after RBA rate cut)
          • New lowest advertised variable rate: 
          • June rate cut: 25 basis points 
          • July rate cut: 15 basis points 
          • October rate cut: 15 basis points 
          • Other info: 

          RACQ interest rate cut

          • Rate cut:17 basis points
          • Applies to: "Variable interest rate home loans"
          • Announcement date: 03 March 2020
          • Effective date: Unconfirmed
          • New lowest advertised variable rate: 
          • June rate cut: 25 basis points 
          • July rate cut: 25 basis points 
          • October rate cut: 15 basis points 
          • Other info: 

          RAMS interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Existing customers on variable rate home loans (owner-occupier and investor)
          • Announcement date: 03 March 2020
          • Effective date: 17 March 2020 (14 days after RBA rate cut)
          • New lowest advertised variable rate: 2.74% p.a. (2.80% p.a. comp rate*), Essential Home Loan 
          • June rate cut: 20-35 basis points 
          • July rate cut: 20-30 basis points 
          • October rate cut: 15 basis points 
          • Other info: 

          Reduce Home Loans interest rate cut

          • Rate cut: Up to 25 basis points
          • Applies to: Variable rate home loans for new customers (OO and investor) 
          • Announcement date: 03 March 2020
          • Effective date: 03 March 2020 (new customers only)  
          • New lowest advertised variable rate: 
          • June rate cut: 25 basis points 
          • July rate cut: Up to 22 basis points
          • October rate cut: Up to 20 basis points 
          • Other info: Rate cuts for existing customers yet to be confirmed

          Resimac interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Variable rate home loans for existing customers (OO and investor) 
          • Announcement date: 04 March 2020
          • Effective date: 26 March 2020 (23 days after RBA rate cut)
          • New lowest advertised variable rate: 
          • June rate cut: Not disclosed
          • July rate cut: 25 basis points
          • October rate cut: 15 basis points 
          • Other info: 

          State Custodians interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Variable interest rates on most loans
          • Announcement date: 06 March 2020
          • Effective date: 26 March 2020 (23 days after RBA rate cut)
          • New lowest advertised variable rate: 
          • July rate cut: 25 basis points 
          • October rate cut: 25 basis points 
          • Other info: 

          St George interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All variable rate home loans (owner-occupier and investor)
          • Announcement date: 03 March 2020
          • Effective date: 17 March 2020 (14 days after RBA rate cut)
          • New lowest advertised variable rate: 2.69% p.a. (2.71% p.a. comp rate*), Basic Home Loan 
          • June rate cut: 20-35 basis points 
          • July rate cut: 20-30 basis points 
          • October rate cut: 15 basis points 
          • Other info: 

          Suncorp interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Variable home loan customers
          • Announcement date: 03 March 2020
          • Effective date: 20 March 2020 (17 days after RBA rate cut)
          • New lowest advertised variable rate: 2.78% p.a. (2.79% p.a. comp rate*), Back to Basics Home Loan 
          • June rate cut: 20 basis points 
          • July rate cut: 19 basis points 
          • October rate cut: 15 basis points 
          • Other info: 

          Sydney Mutual Bank interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Variable rate home loan products (owner-occupied and residential investor, both new and existing borrowers
          • Announcement date: 18 March 2020
          • Effective date: 1 April 2020 (29 days after RBA rate cut)
          • New lowest advertised variable rate: 
          • June rate cut: 20-25 basis points 
          • July rate cut: 20 basis points 
          • October rate cut: Tiered rate cut – not publicly disclosed
          • Other info: 

          The Mutual Bank interest rate cut

          • Rate cut: 15 to 25 basis points
          • Applies to: 
            • OO & investor home loan variable rates (25 bps)
            • OO & investor home loan fixed rates (25 bps)
          • Announcement date: 04 March 2020
          • Effective date:
            • OO & investor variable home loans and commercial loans: 16 March 2020 (3 days after RBA rate cut)
            • OO & investor home loan fixed rates: 04 March 2020 (1 day after RBA rate cut)
          • New lowest advertised variable rate: 
          • June rate cut: 25 basis points 
          • July rate cut: 10-20 basis points 
          • October rate cut: 10-20 basis points 
          • Other info: 

          TicToc interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Variable rate home loan products
          • Announcement date: 06 March 2020
          • Effective date: 06 March 2020 (3 days after RBA rate cut)
          • New lowest advertised variable rate: 2.54% p.a. (2.55% p.a. comp rate*)
          • June rate cut: 20 basis points 
          • July rate cut: 20 basis points 
          • October rate cut: 15 basis points 
          • Other info: 

          UBank interest rate cut

          • Rate cut: 25 basis points
          • Applies to: All new and existing variable rate home loans (owner-occupier and investor)
          • Announcement date: 03 March 2020
          • Effective date: 03 April 2020 (31 days after RBA rate cut)
          • New lowest advertised variable rate: 
          • June rate cut: 25 basis points 
          • July rate cut: 25 basis points 
          • October rate cut: 25 basis points 
          • Other info: 

          Virgin Money interest rate cut

          • Rate cut: 17-25 basis points
            • OO P&I and IO loans by 17 basis points 
            • Investor P&I and IO loans by 25 basis points 
          • Applies to: All standard variable rate home loans 
          • Announcement date: 04 March 2020
          • Effective date: 3 April 2020 (31 days after RBA rate cut)
          • New lowest advertised variable rate: 
          • June rate cut: 25 basis points 
          • July rate cut: 15 basis points 
          • October rate cut: 10-25 basis points
          • Other info: 

          Westpac interest rate cut

          • Rate cut: 25 basis points
          • Applies to: Existing customers on variable rate home loans (owner-occupier and investor)
          • Announcement date: 03 March 2020
          • Effective date: 17 March 2020 (14 days after RBA rate cut)
          • New lowest advertised variable rate: 2.93% p.a. (2.94% p.a. comp rate*), Flexi First Option Home Loan
          • June rate cut: 20-35 basis points 
          • July rate cut: 20-30 basis points 
          • October rate cut: 15 basis points 
          • 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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          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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