RBA rate hold September: Low home loan rates still on offer

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on September 03, 2019
RBA rate hold September: Low home loan rates still on offer

Australia’s cash rate has been held again, which means if you want a rate reduction on your home loan, you’ll have to do it yourself.

After holding steady in August, the Reserve Bank of Australia (RBA) again elected to hold the cash rate steady this month at 1.00%.

But after passing some or all of the RBA’s rate cuts in June and July, most lenders still offer competitive home loans at interest rates below 3.50%, giving many mortgage-holders the power to cut their own rates by switching to a lower-rate home loan.

Those in the market for a rate cut opportunity can check out 
some of the lowest variable home loan rates available from 
60+ of Australia’s most popular lenders below.

Current low rate home loans: “Best of” snapshot

To provide a quick snapshot of the market, Savings.com.au has also picked-out three products which represent among the sharpest current home loan rates on offer from:

  • the big four banks
  • the top 10 customer-owned institutions
  • the larger non-banks

Lender

Variable
More details
UNLIMITED REDRAWSSPECIAL OFFER
  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
UNLIMITED REDRAWSSPECIAL OFFER

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

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
Variable
More details
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES
  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

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

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

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

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

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

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

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

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

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

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

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

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

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

    Variable
    More details
    EASY DIGITAL APPLICATION
    EASY DIGITAL APPLICATION

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

      Variable
      More details
      $0 APPLICATION FEE
      $0 APPLICATION FEE

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

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

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

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

          Smart Booster Home Loan Discounted Variable - 1yr

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

          Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of June 25, 2022. View disclaimer.

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          Low variable home loan rates on offer from each lender

          Last updated: 03/09/19

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

          Please also note that the “lowest advertised variable rates” listed for each lender excludes introductory & honeymoon rates and package rates. Rates and product information are correct at the time of the last update to this page and should be confirmed with the relevant lender. Lowest rates will only be listed if they are currently available.

          For more detail on the June and July interest rate cuts carried out by each lender, you can visit our respective June and July rate cut summary pages.

          Adelaide Bank interest rate

          AMP interest rate

          ANZ Bank interest rate

          Athena interest rate

          Australian Unity interest rate

          Auswide Bank interest rate

          Bank Australia interest rate

          BankFirst interest rate

          Bank of Melbourne interest rate

          Bank of Sydney interest rate

          BankSA interest rate

          BankVic interest rate

          Bankwest interest rate

          BCU interest rate

          Bendigo Bank interest rate

          Beyond Bank interest rate

          Bank of Queensland interest rate

          Citi interest rate

          Commonwealth Bank interest rate

          Credit Union SA interest rate

          CUA interest rate

          Defence Bank interest rate

          G&C Mutual Bank interest rate

          Gateway Bank interest rate

          Greater Bank interest rate

          Heritage Bank interest rate

          Homestar Finance interest rate

          HomeStart Finance interest rate

          Horizon Credit Union interest rate

          HSBC interest rate

          Hume Bank interest rate

          Hunter United interest rate

          IMB Bank interest rate

          ING interest rate

          Liberty interest rate

          Loans.com.au interest rate

          Macquarie Bank interest rate

          ME Bank interest rate

          Mortgage House interest rate

          MOVE Bank interest rate

          MyState interest rate

          NAB interest rate

          Newcastle Permanent interest rate

          P&N Bank interest rate

          People’s Choice CU interest rate

          Pepper Money interest rate

          Police Bank interest rate

          Police Credit Union interest rate

          QBank interest rate

          Qudos Bank interest rate

          RACQ Bank interest rate

          RAMS interest rate

          Reduce Home Loans interest rate

          Resimac interest rate

          SCU interest rate

          State Custodians interest rate

          St. George Bank interest rate

          Suncorp interest rate

          Teachers Mutual Bank interest rate

          The Mutual Bank interest rate

          TicToc interest rate

          UBank interest rate

          Unibank interest rate

          Unity Bank interest rate

          Virgin Money interest rate

          Westpac interest rate

          Adelaide Bank interest rate

          • Lowest advertised variable rate: 3.29% p.a. (3.52% p.a. comp rate*) for OO P&I borrowers with LVR under 90%
          • July rate cut: 15-20 basis points (0.15-0.20% points)
          • June rate cut: 15-20 basis points (0.15-0.20% points)

          AMP Bank interest rate

          • Lowest advertised variable rate: 3.74% p.a. (3.77% p.a. comp rate*) for OO P&I borrowers with up to 90% LVR
          • July rate cut: 20 basis points (0.20% points)
          • June rate cut: 25 basis points (0.25% points)

          ANZ Bank interest rate

          • Lowest advertised variable rate: 4.93% p.a. (5.03% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR
          • July rate cut: 25 basis points (0.25% points)
          • June rate cut: 18 basis points (0.18% points)

          Athena interest rate

          • Lowest advertised variable rate: 3.09% p.a. (3.05% p.a. comp rate*) for OO P&I with up to 80% LVR
          • July rate cut: 25 basis points (0.25% points)
          • June rate cut: 25 basis points (0.25% points)

          Australian Unity interest rate

          • Lowest advertised variable rate: 3.09% p.a. (3.12% p.a. comp rate*) for OO P&I customers with up to 80% LVR
          • July rate cut: 20 basis points (0.20% points)
          • June rate cut: 25 basis points (0.25% points) 

          Auswide Bank interest rate

          • Lowest advertised variable rate: 3.26% p.a. (3.66% p.a. comp rate*) for OO P&I borrowers with up to 90% LVR
          • July rate cut: 25 basis points (0.25% points)
          • June rate cut: 25 basis points for all variable P&I home loan customers (0.25% points)

          Bank Australia interest rate

          • Lowest advertised variable rate: 3.35% p.a. (3.36% p.a. comp rate*) for OO P&I borrowers with LVR under 80%
          • July rate cut: 16 basis points (0.16% points)
          • June rate cut: 25 basis points (0.25% points)

          BankFirst interest rate

          • Lowest advertised variable rate: 3.39% p.a. (3.44% p.a. comp rate) for owner occupiers with LVR of 80% or less
          • July rate cut: 13-25 basis points (0.13-0.25% points)
          • June rate cut: 7-30 basis points (0.07-0.30% points)

          Bank of Melbourne interest rate

          • Lowest advertised variable rate: 3.34% p.a. (3.36% p.a. comp rate*) for OO Variable home loan P&I with LVR above 80%
          • July rate cut: 20-30 basis points (0.20-0.30% points)
          • June rate cut: 20-35 basis points (0.20-0.35% points)

          Bank of Sydney interest rate

          • Lowest advertised variable rate: 3.11% p.a. (3.13% p.a. comp rate*) for OO P&I customers with up to 90% LVR
          • July Rate cut: 19 basis points (0.19% points)
          • June rate cut: 20-25 basis points (0.20-0.25% points)  

          Bank of Queensland interest rate

          • Lowest advertised variable rate: 3.59% p.a. (3.75% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR.
          • July rate cut: 15 basis points (0.15% points)
          • June rate cut: 25 basis points (0.25% points)

          BankSA interest rate

          • Lowest advertised variable rate: 3.24% p.a. (3.26% p.a. comp rate*) for Basic Promo Variable P&I with 95% LVR or less
          • July rate cut: 20-30 basis points (0.20-0.30% points)
          • June rate cut: 20-35 basis points (0.20-0.35% points)

          BankVic interest rate

          • Lowest advertised variable rate: 3.48% p.a. (3.52% p.a. comp rate*) for OO P&I borrowers
          • July rate cut: 15 basis points (0.15% points)
          • June rate cut: 25 basis points (0.25% points)

          Bankwest interest rate

          • Lowest advertised variable rate: 3.80% p.a. (3.82% p.a. comp rate*) for OO P&I borrowers with up to 90% LVR
          • July rate cut: 19 basis points (0.19% points)
          • June rate cut: 25 basis points (0.25% points)

          BCU interest rate

          • Lowest advertised variable rate: 3.34% p.a. (3.38% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR
          • July rate cut: 20-25 basis points (0.20-0.25% points)
          • June rate cut: 25 basis points (0.25% points)

          Bendigo Bank interest rate

          • Lowest advertised variable rate: 3.29% p.a. (3.45% p.a. comp rate*) for OO P&I borrowers with up to 95% LVR
          • July rate cut: 15-20 basis points (0.15-0.20% points)
          • June rate cut: 15-20 basis points (0.15-0.20% points)

          Beyond Bank interest rate

          • Lowest advertised variable rate: 3.47% p.a. (3.47% p.a. comp rate*) for OO P&I customers with up to 80% LVR
          • July rate cut: 17 basis points (0.17% points)
          • June rate cut: 15-25 basis points (0.15-0.25% points)

          Citi interest rate

          • Lowest advertised variable rate: 3.21% p.a. (3.26% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR
          • July rate cut: 18 basis points (0.19% points)
          • June rate cut: 25 basis points (0.25% points)

          Commonwealth Bank interest rate

          • Lowest advertised variable rate: 3.35% p.a. (3.36% p.a. comp rate*) for OO P&I borrowers with up to 70% LVR
          • July rate cut: 19-25 basis points (0.19-0.25% points)
          • June rate cut: 25 basis points (0.25% points)

          Credit Union SA interest rate

          • Lowest advertised variable rate: 3.59% p.a. (3.61% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR
          • July rate cut: 20 basis points (0.20% points)
          • June rate cut: 20 basis points (0.20% points)

          CUA interest rate

          • Lowest advertised variable rate: 3.18% p.a. (3.23% p.a. comp rate) with special offer for OO P&I borrowers with up to 90% LVR
          • July rate cut: 17 basis points (0.17% points)
          • June rate cut: 10-25 basis points (0.10-0.25% points)

          Defence Bank interest rate

          • Lowest advertised variable rate: 3.51% p.a. (3.51% p.a. comp rate*) for OO P&I customers
          • July rate cut: 19 basis points (0.19% points)
          • June rate cut: 25 basis points (0.25% points)

          G&C Mutual Bank interest rate

          • Lowest advertised variable rate: 3.49% p.a. (3.52% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR
          • July rate cut: 10-20 basis points (0.10-0.20% points)
          • June rate cut: 25 basis points (0.25% points)

          Gateway Bank interest rate

          • Lowest advertised variable rate: 3.19% p.a. (3.22% p.a. comp rate*) for OO P&I borrowers with up to 95% LVR
          • July rate cut: Up to 20 basis points (0.20% points)
          • June rate cut: 25 basis points (0.25% points)

          Greater Bank interest rate

          • Lowest advertised variable rate: 3.47% p.a. (3.48% p.a. comp rate*) for OO P&I customers with up to 90% LVR
          • July rate cut: 15-25 basis points (0.15-0.25% points)
          • June rate cut: 25 basis points (0.25% points)

          Heritage Bank interest rate

          • Lowest advertised variable rate: 3.32% p.a. (3.34% p.a. comp rate*) with discount for OO P&I customers with up to 80% LVR
          • July rate cut: 15 basis points (0.15% points)
          • June rate cut: 20 basis points (0.20% points)

          Homestar Finance interest rate

          • Lowest advertised variable rate: 3.04% p.a. (3.07% p.a. comp rate*) for OO P&I new customers with up to 80% LVR 
          • July rate cut: 25 basis points (0.25% points)
          • June rate cut: 25 basis points (0.25% points)

          Homestart Finance interest rate

          • Lowest advertised variable rate: 4.94% p.a. (5.01% p.a. comp rate*) for OO P&I borrowers with up to 95% LVR
          • July rate cut: 20 basis points (0.20% points)
          • June rate cut: 25 basis points (0.25% points)

          Horizon Credit Union interest rate

          • Lowest advertised variable rate: 3.84% p.a. (4.01% p.a. comparison rate*) for OO P&I customers with up to 95% LVR
          • July rate cut: 20 basis points (0.20% points)
          • June rate cut: 25 basis points (0.25% points)

          HSBC interest rate

          • Lowest advertised variable rate: 3.27% p.a. (3.28% p.a. comp rate*) for OO P&I customers with up to 80% LVR.
          • July rate cut: 20 basis points (0.20% points)
          • June rate cut: 22 basis points (0.22% points)

          Hume Bank interest rate

          • Lowest advertised variable rate: 3.39% p.a. (3.39% p.a. comp rate*) for OO P&I borrowers with up to 95% LVR  
            Other info: 
          • July rate cut: 10-15basis points (0.10-0.15% points)
          • June rate cut: 10-20 basis points (0.10-0.20% points)

          Hunter United interest rate

          • Lowest advertised variable rate: 3.27% p.a. (3.37% p.a. comp rate*) for OO P&I first home buyers with up to 90% LVR  
            Other info: 
          • July rate cut: 5-20 basis points (0.05-0.20% points)
          • June rate cut: 25 basis points on variable home loans (0.25% points)

          IMB Bank interest rate

          • Lowest advertised variable rate: 3.31% p.a. (3.37% p.a. comp rate*) for OO P&I customers with up to 90% LVR
          • July rate cut: 18 basis points (0.18% points)
          • June rate cut: 25 basis points on residential and business lending products

          ING interest rate

          • Lowest advertised variable rate: 3.18% p.a. (3.21% p.a. comp rate) for OO P&I customers with up to 80% LVR
          • July rate cut: 20 basis points (0.20% points)
          • June rate cut: 25 basis points (0.25% points)

          Liberty interest rate

          • Lowest advertised variable rate: 3.50% p.a (3.57% p.a. comp rate*) for OO P&I borrowers with up to 65% LVR  
          • July rate cut: 19 basis points (0.19% points)
          • June rate cut: 25 basis points for existing customers (0.25% points)

          Loans.com.au interest rate

          Macquarie Bank interest rate

          • Lowest advertised variable rate: 3.24% p.a. (3.24% p.a. comp rate*) for OO P&I borrowers with up to 70% LVR 
          • July rate cut: 20 basis points (0.20% points)
          • June rate cut: 25 basis points (0.25% points)

          ME Bank interest rate

          • Lowest advertised variable rate: 3.57% p.a. (3.59% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR
          • July rate cut: 15 basis points (0.15% points)
          • June rate cut: 25 basis points (0.25% points)

          Mortgage House interest rate

          • Lowest advertised variable rate: 2.99% p.a. (3.02% p.a. comp rate*) for OO P&I customers with up to 60% LVR  
          • July rate cut: 15-50 basis points (0.15-0.50% points)
          • June rate cut: 10-70 basis points (0.10-0.70% points)

          Move Bank interest rate

          • Lowest advertised variable rate: 3.09% p.a. (3.12% p.a. comp rate*) for new OO P&I customers with up to 80% LVR.   
          • July rate cut: 20-30 basis points (0.20-0.30% points)
          • June rate cut: up to 25 basis points (0.25% points)

          MyState interest rate

          • Lowest advertised variable rate: 3.38% p.a. (3.41% p.a. comp rate*) on Basic Variable home loan for new customers
          • July rate cut: 20 basis points (0.20% points)
          • June rate cut: 20 basis points (0.20% points)

          NAB interest rate

          • Lowest advertised variable rate: 3.35% p.a. (3.39% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR
          • July rate cut: 19 basis points (0.19% points)
          • June rate cut: 25 basis points (0.25% points)

          Newcastle Permanent interest rate

          • Lowest advertised variable rate: 3.32% p.a. (3.36% p.a. comp rate*) Special for OO P&I borrowers with up to 90% LVR
          • July rate cut: 25 basis points (0.25% points)
          • June rate cut: 25 basis points (0.25% points)

          P&N Bank interest rate

          • Lowest advertised variable rate: 3.63% p.a. (3.63% p.a. comp rate*) for OO P&I borrowers with LVR under 90%  
          • July rate cut: Up to 18 basis points (0.18% points)
          • June rate cut: 18 basis points on most variable home loans (0.18% points)

          People’s Choice CU interest rate

          • Lowest advertised variable rate: 4.07% p.a. (4.12% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR  
          • July rate cut: 15 basis points (0.15% points)
          • June rate cut: 25 basis points on standard variable home loan rates for existing members and variable business loan rates

          Pepper Money interest rate

          • Lowest advertised variable rate: 3.36% p.a. (3.56% p.a. comp rate*) for OO P&I borrowers with up to 90% LVR   
          • July rate cut: 20 basis points (0.20% points)
          • June rate cut: 25 basis points (0.25% points)

          Police Bank interest rate

          • Lowest advertised variable rate:  3.39% p.a. (3.47% p.a. comp rate*) Special for OO borrowers with LVR up to 70%
          • July rate cut: 15 basis points (0.15% points)
          • June rate cut: 25 basis points (0.25% points)

          Police Credit Union interest rate

          • Lowest advertised variable rate: 3.29% p.a. (3.34% p.a. comp rate*) for OO P&I borrowers with up to 60% LVR   
          • July rate cut: 15 basis points (0.15% points)
          • June rate cut: 15-25 basis points (0.15-0.25% points)

          QBank interest rate

          • Lowest advertised variable rate: 3.35% p.a. (3.38% p.a. comp rate*) Special with Discounted rate for OO P&I borrowers with up to 90% LVR  
          • July rate cut: 20 basis points (0.20% points)
          • June rate cut: 18 basis points (0.18% points)

          Qudos Bank interest rate

          • Lowest advertised variable rate: 3.29% p.a. (3.29% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR  
          • July rate cut: 15 basis points (0.15% points)
          • June rate cut: 25 basis points (0.25% points)

          RACQ Bank interest rate

          • Lowest advertised variable rate: 3.19% p.a. (3.19% p.a. comp rate*) for OO P&I borrowers with up to 95% LVR
          • July rate cut: 25 basis points (0.25% points)
          • June rate cut: 25 basis points (0.25% points)

          RAMS interest rate

          • Lowest advertised variable rate: 4.11% p.a. (4.17% p.a. comp rate*) for OO P&I borrowers with up to 95% LVR
          • July rate cut: 20-30 basis points (0.20-0.30% points)
          • June rate cut: 20-35 basis points (0.20-0.35% points)

          Reduce Home Loans interest rate

          • Lowest advertised variable rate: 2.89% p.a. (2.91% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR 
          • July rate cut: Up to 22 basis points (0.22% points)
          • June rate cut: 25 basis points (0.25% points) (effective 22 July for existing customers)

          Resimac interest rate

          • Lowest advertised variable rate: 3.40% p.a. (3.45% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR 
          • July rate cut: 25 basis points (0.25% points)
          • June rate cut: not publicly disclosed

          SCU interest rate

          • Lowest advertised variable rate: 3.37% p.a. (3.42% p.a. comparison rate*) for OO P&I customers  
          • July rate cut: 20 basis points (0.20% points)
          • June rate cut: 20-25 basis points (0.20-0.25% points)

          State Custodians interest rate

          • Lowest advertised variable rate: 3.15% p.a. (3.17% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR
          • July rate cut: 25 basis points (0.25% points)

          Suncorp Bank interest rate

          • Lowest advertised variable rate: 3.29% p.a. (3.30% p.a. comp rate*) for OO P&I borrowers with up to 90% LVR  
          • July rate cut: 19 basis points (0.19% points)
          • June rate cut: 20 basis points (0.20% points)

          St. George interest rate

          • Lowest advertised variable rate: 3.24% p.a. (3.26% p.a. comp rate*) with Discount for OO P&I borrowers with LVR under 60%
          • July rate cut: 20-30 basis points (0.20-0.30% points)
          • June rate cut: 20-35 basis points (0.20-0.35% points)

          Teachers Mutual Bank interest rate

          • Lowest advertised variable rate: 3.42% (3.46% comparison rate*) for OO P&I borrowers with up to 85% LVR
          • July rate cut: Undisclosed
          • June rate cut: 25 basis points (0.25% points)

          The Mutual Bank interest rate

          • Lowest advertised variable rate: 3.38% (4.23% p.a. comp rate*) Discounted for OO P&I borrowers with up to 90% LVR 
          • July rate cut: 10-20 basis points (0.10-0.20% points)
          • June rate cut: 25 basis points (0.25% points)

          TicToc interest rate

          • Lowest advertised variable rate: 2.99% p.a. (3.00% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR
          • July rate cut: Up to 20 basis points (0.20% points)
          • June rate cut: Up to 20 basis points (0.20% points)

          UBank interest rate

          • Lowest advertised variable rate: 3.09% p.a. (3.09% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR   
          • July rate cut: 25 basis points (0.25% points)
          • June rate cut: 25 basis points (0.25% points)

          UniBank interest rate

          • Lowest advertised variable rate: 3.42% p.a. (3.46% p.a. comp rate*) for OO P&I borrowers with up to 85% LVR  
          • July rate cut: Undisclosed
          • June rate cut: 25 basis points (0.25% points)

          Unity Bank interest rate

          • Lowest advertised variable rate: 3.66% p.a. (3.71% p.a. comp rate*) for OO P&I borrowers with up to 80% LVR   
          • July rate cut: 15 basis points (0.15% points)
          • June rate cut: 15-18 basis points (0.15-0.18% points)

          Virgin Money interest rate

          • Lowest advertised variable rate: 3.24% p.a. (3.38% p.a. comp rate*) for OO P&I borrowers with up to 90% LVR  
          • July rate cut: 15 basis points (0.15% points)
          • June rate cut: 25 basis points (0.25% points)

          Westpac interest rate

          • Lowest advertised variable rate: 3.58% p.a. (3.59% p.a. comp rate*) for new OO P&I customers
          • July rate cut: 20-30 basis points (0.20-0.30% points)
          • June rate cut: 20-35 basis points (0.20%-0.35% points)

          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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