Suncorp, Adelaide and Qudos Bank reduce fixed rates

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on November 08, 2019
Suncorp, Adelaide and Qudos Bank reduce fixed rates

Photo by Holger Link on Unsplash

More banks are dropping their fixed home loan rates, enticing borrowers to lock in their rate.

With at least one more cash rate cut expected in the coming months, it’s likely these won’t be the last cuts to fixed rates we’ll see.

Many economists are tipping the Reserve Bank to take the cash rate to a further record low of 0.5% at its first meeting of 2020 in February.

Non-majors Suncorp and Adelaide Bank, and customer-owned Qudos have all dropped their fixed home loan rates, with many below 3%.

Earlier this week, popular online lender loans.com.au slashed its fixed interest rates by 20 basis points across the board, bringing some of its fixed rates below 3% for the first time.

Below are some of the lowest variable home loan rates on offer across the big four banks, customer-owned banks and 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
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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 26, 2022. View disclaimer.

          Suncorp fixed rate cuts

          Suncorp has cut fixed rates by up to 40 basis points, effective from 8 November.

          The cuts apply to fixed home loan products on both principal and interest (P&I) and interest-only (IO) repayments for new owner-occupier and investors.

          Suncorp Home Package Plus with Special Offer for owner-occupiers making P&I repayments:

          • Two-year fixed rate for loans with an LVR of up to 90% has been cut by 10 basis points 2.89% p.a. (3.75% p.a. comparison rate*)
          • Three-year fixed rate for loans with an LVR of up to 90% has been cut by 10 basis points 2.89% p.a. (3.70% p.a. comparison rate*)
          • Five-year fixed rate for first home buyers with an LVR of up to 95% has been cut by 40 basis points 2.99% p.a. (3.27% p.a. comparison rate*)

          Suncorp Home Package Plus with Special Offer for investors making P&I repayments:

          • Two-year fixed rate for loans with an LVR of up to 90% has been cut by 10 basis points to 3.19% p.a. (4.04% p.a. comparison rate*)
          • Three-year fixed rate for loans with an LVR of up to 90% has been cut by 10 basis points to 3.19% p.a. (3.99% p.a. comparison rate*)

          Suncorp Home Package Plus with Special Offer for investors making IO repayments:

          • Two-year fixed rate for loans with an LVR of up to 90% has been cut by 20 basis points to 3.39% p.a. (4.06% p.a. comparison rate*)
          • Three-year fixed-rate loans with an LVR of up to 90% has been cut by 20 basis points to 3.39% p.a. (4.02% p.a. comparison rate*)
          • Two-year fixed rate for loans with an LVR of up to 90% has been cut by 10 basis points to 3.49% p.a. (5.05%

          Adelaide Bank fixed rate cuts

          Adelaide Bank has lowered its fixed rates by up to 10 basis points, effective from 6 November for new customers.

          Adelaide Bank SmartFix:

          • Two-year fixed for owner-occupiers making P&I repayments has been cut by 10 basis points to 2.89% p.a. (3.26% p.a. comparison rate*)
          • Three-year fixed for owner-occupiers making P&I repayments has been cut by 8 basis points to 2.91% p.a. (3.25% p.a. comparison rate*)

          Adelaide Bank SmartSaver:

          • Two-year fixed for owner-occupiers making P&I repayments has been cut by 10 basis points to 2.89% p.a. (3.07% p.a. comparison rate*)
          • Three-year fixed for owner-occupiers making P&I repayments has been cut by 8 basis points to 2.91% p.a. (3.06% p.a. comparison rate*)

          Qudos Bank fixed rate cuts

          Customer-owned Qudos has also reduced its fixed rates for new owner-occupiers making P&I repayments by 10 basis points, effective from 4 November.

          Qudos fixed rate cuts for owner-occupiers with 80% LVR:

          • One-year fixed for loans with an LVR of 80% has been cut by 10 basis points to 2.89% p.a. (3.30% p.a. comparison rate*)
          • Two-year fixed for loans with an LVR of 80% has been cut by 10 basis points to 2.89% p.a. (3.26% p.a. comparison rate*)
          • Three-year fixed for loans with an LVR of 80% has been cut by 10 basis points to 2.89% p.a. (3.23% p.a. comparison rate*)
          • Four-year fixed for loans with an LVR of 80% has been cut by 10 basis points to 3.09% p.a. (3.26% p.a. comparison rate*)
          • Five-year fixed for loans with an LVR of 80% has been cut by 10 basis points to 3.09% p.a. (3.24% p.a. comparison rate*)

          Qudos fixed rate cuts for owner-occupiers with 90% LVR:

          • One-year fixed for loans with an LVR of 90% has been cut by 10 basis points to 2.99% p.a. (3.31% p.a. comparison rate*)
          • Two-year fixed for loans with an LVR of 90% has been cut by 10 basis points to 2.99% p.a. (3.28% p.a. comparison rate*)
          • Three-year fixed for loans with an LVR of 90% has been cut by 10 basis points to 2.99% p.a. (3.25% p.a. comparison rate*)
          • Four-year fixed for loans with an LVR of 90% has been cut by 10 basis points to 3.19% p.a. (3.29% p.a. comparison rate*)
          • Five-year fixed for loans with an LVR of 90% has been cut by 10 basis points to 3.19% p.a. (3.28% comparison rate*)

          Disclaimers

          The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the Savings Media group. In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. To read about how Savings Media Group manages potential conflicts of interest, along with how we get paid, please visit the web site links at the bottom of this page.

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          author-avatar
          Emma Duffy is Assistant Editor at Your Mortgage and  Your Investment Property Mag, which are part of the Savings Media Group. In this role, she manages a team of journalists and expert contributors committed to keeping readers informed about the latest home loan and finance news and trends, as well as providing in-depth property guides. She is also a finance journalist at Savings.com.au which she joined shortly after its launch in early 2019. Emma has a Bachelor in Journalism and has been published in several other publications and been featured on radio.

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