ANZ announced more cuts to its fixed home loan rates on Monday after earlier cuts edged some of the bank's fixed rates below the 6% p.a. mark.
ANZ's taken up to 25 basis points off the range of its fixed rates for both residential and investment loans for fixed periods of up to 10 years.
The bank's new lowest rate is 5.74% p.a. for owner-occupiers with a loan-to-value ratio (LVR) of 80% or less who fix for two or three years (comparison rates* 6.94% p.a. and 6.81% p.a. respectively) and make principal and interest (P&I) repayments.
It's now the lowest advertised fixed rate among the big four banks, which have been dropping fixed rates as part of a widespread market plunge for several months.
See also: Best fixed rate home loans from 5.24%
Although there are fixed rates up to 50 basis points lower on the wider market, the new ANZ rates are notable for dipping below the advertised rates of its big four peers.
Here is a selection of ANZ's new fixed rates for owner occupiers making P&I repayments:
| Fixed Period | LVR | Rate Change (%) | New Rate | Comparison Rate* |
|---|---|---|---|---|
| 1 year | 80% or less | -0.25 | 6.14% p.a. | 7.13% p.a. |
| 80-90% | -0.15 | 6.59% p.a. | 7.35% p.a. | |
| 2 years | 80% or less | -0.25 | 5.74% p.a. | 6.94% p.a. |
| 80-90% | -0.15 | 6.19% p.a. | 7.19% p.a. | |
| 3 years | 80% or less | -0.25 | 5.74% p.a. | 6.81% p.a. |
| 80-90% | -0.15 | 6.19% p.a. | 7.08% p.a. | |
| 4 years | 80% or less | -0.25 | 5.89% p.a. | 6.75% p.a. |
| 80-90% | -0.15 | 6.34% p.a. | 7.03% p.a. | |
| 5 years | 80% or less | -0.25 | 5.99% p.a. | 6.69% p.a. |
| 80-90% | -0.15 | 6.44% p.a. | 7.00% p.a. |
ANZ is also offering a rate of 7.24% p.a. (7.24% p.a. comparison rate*) for seven- or ten-year fixed rate periods for homeowners with LVRs of 80% or less and 7.69% p.a. for those with LVRs of 80% to 90% (7.59% p.a. comparison rate* on seven-year fixed periods and 7.63% p.a. comparison rate* on ten-year fixed periods).
Some investor rates now below 6%
The cuts also take some of ANZ's investor fixed home loan rates below the 6% p.a. mark for those making P&I repayments. Here's a selection of new investment rates:
| Fixed Period | LVR | Rate Change (%) | New Rate | Comparison Rate* |
|---|---|---|---|---|
| 1 year | 80% or less | -0.25 | 6.24% p.a. | 7.67% p.a. |
| 80-90% | -0.15 | 6.69% p.a. | 7.89% p.a. | |
| 2 years | 80% or less | -0.25 | 5.94% p.a. | 7.45% p.a. |
| 80-90% | -0.15 | 6.39% p.a. | 7.70% p.a. | |
| 3 years | 80% or less | -0.25 | 5.94% p.a. | 7.28% p.a. |
| 80-90% | -0.15 | 6.39% p.a. | 7.55% p.a. | |
| 4 years | 80% or less | -0.25 | 5.99% p.a. | 7.15% p.a. |
| 80-90% | -0.15 | 6.44% p.a. | 7.44% p.a. | |
| 5 years | 80% or less | -0.25 | 6.09% p.a. | 7.06% p.a. |
| 80-90% | -0.15 | 6.54% p.a. | 7.37% p.a. |
ANZ signals Suncorp charge
ANZ's fixed home loan rate cuts come on the same day the bank flagged a $196 million charge related to its acquisition of Suncorp Bank in July 2024.
It announced its second-half profits will be impacted by the estimated after-tax charge with a net reduction in its capital holdings.
The charge relates to accounting adjustments triggered by the incorporation of Suncorp Bank into ANZ's operations.
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Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.
| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Extra Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5.94% p.a. | 5.98% p.a. | $2,978 | Principal & Interest | Variable | $0 | $530 | 90% |
| Promoted | Disclosure | ||||||||||
5.89% p.a. | 5.80% p.a. | $2,962 | Principal & Interest | Variable | $0 | $0 | 80% |
| Promoted | Disclosure | ||||||||||
5.99% p.a. | 6.02% p.a. | $2,995 | Principal & Interest | Fixed | $0 | $0 | 60% |
| Promoted | Disclosure | ||||||||||
5.93% p.a. | 5.93% p.a. | $2,975 | Principal & Interest | Variable | $0 | $395 | 70% | Disclosure |
