Home News ANZ slashes fixed rate home loans

ANZ slashes fixed rate home loans

ANZ has cut up to 45 basis points off its fixed home loan rates, taking its lowest fixed rate to 5.39% p.a.

First published on 09 May 2025

ANZ is joining the fixed rate plunge across the mortgage market, taking the axe to its residential and investor rates in the lead up to this month's widely forecast drop in the Reserve Bank cash rate.

The big bank's new lowest fixed rate is 5.39% p.a. (6.67% p.a. comparison rate*) for owner occupiers with 80% or less loan-to-value ratio (LVR) making prinicipal and interest (P&I) repayments and fixing for two years.

The one-year fixed rate for residential borrowers with the same arrangement is 5.49% p.a. (6.84% p.a. comparison rate*).

Here's a look at ANZ's new fixed rates for owner occupiers:

Product	% change	New rate	Comparison rate*
1 year ≤80% LVR	-0.40	5.49% p.a.	6.84% p.a.
1 year 80-90% LVR	-0.40	5.94% p.a.	7.06% p.a.
2 years ≤80% LVR	-0.35	5.39% p.a.	6.67% p.a.
2 years 80-90% LVR	-0.35	5.84% p.a.	6.92% p.a.
3 years ≤80% LVR	-0.05	5.69% p.a.	6.62% p.a.
3 years 80-90% LVR	-0.05	6.14% p.a.	6.89% p.a.
4 years ≤80% LVR	-0.05	5.84% p.a.	6.57% p.a.
4 years 80-90% LVR	-0.05	6.29% p.a.	6.86% p.a.
5 years ≤80% LVR	-0.15	5.84% p.a.	6.49% p.a.
5 years 80-90% LVR	-0.15	6.29% p.a.	6.79% p.a.

The new lowest rate for investors is 5.54% p.a. (7.18% p.a. comparison rate*) for those with up to 80% LVR, making P&I repayments, and fixing for two years - a cut of 40 basis points off the old rate.

Rates are higher for all borrowers making interest only repayments.

It's also worth noting ANZ is the only lender to offer fixed rate periods of seven and 10 years, although those rates remain unchanged with a '7' in front across the board.

See all this week's home loan rate movements: Lenders race to drop fixed rates as RBA rate drop looms

How do ANZ's new rates stack up?

ANZ is now matching its big bank peer NAB's lowest fixed rate of 5.39% p.a. (see more on big four fixed rates below), but it hasn't gone as far as the lowest rate on the market which now has a '4' in front.

On Wednesday, Bank of Queensland followed Police Bank in offering a 4.99% p.a. fixed rate home loan.

BoQ cut the rate on its fixed home loans to 4.99% p.a. for two-year (5.84% p.a. comparison rate*) and three-year (5.77% p.a. comparison rate*) fixed periods for owner occupiers with up to 90% LVR.

It matched Police Bank's bold move the week before although some of its fixed rate home loan products are only available to serving and retired Australian police and civilian support staff, while others are open to family members and Police Bank members.

How do ANZ's new fixed rates compare with the big four?

ANZ is now offering the same lowest rate as National Australia Bank's 5.39% p.a. (6.30% p.a. comparison rate*) under NAB's current special offer Tailored home loan deal.

However, ANZ doesn't require borrowers to access the rate through a home loan package and offers it to those with up to 80% LVR, while NAB's rate is only open to those with LVRs up to 70%.

See below for the big banks' lowest fixed home loan rates for owner occupiers making P&I repayments:

Bank	Product	Rate	Comparison rate*
CommBank	3 years fixed Wealth Package loan	5.74% p.a.	7.59% p.a.
Westpac	≤70% LVR 2 years fixed package loan (new lending only)	5.59% p.a.	6.40% p.a.
NAB	≤70% LVR Tailored home loan special offer 3 years fixed (new lending only)	5.39% p.a.	6.30% p.a.

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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.

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Lender	Home Loan	Interest Rate	Comparison Rate*	Monthly Repayment	Repayment type	Rate Type	Ongoing Fees	Upfront Fees	Max LVR	Row Tags	Features	Link	Compare	Promoted Product	Disclosure
Regional Australia Bank	Regional Australia Bank Home Loan without Offset - OO,PI LVR 60% or less	5.69% p.a.	5.70% p.a.	$2,899	Principal & Interest	Variable	$0	$0	60%	Up to $4k Cashback Owner Occupier Variable Principal & Interest 40% Min Deposit Redraw More details	Up to $4k cashback when you take a loan with us (Terms and Conditions apply) Quick and Easy online application, with no upfront or annual fees. Unlimited additional repayments free of charge.	More details	Compare	Promoted	Disclosure
loans.com.au	loans.com.au Variable Home Loan P&I <90%	5.79% p.a.	5.83% p.a.	$2,931	Principal & Interest	Variable	$0	$530	90%	Owner Occupier Variable Principal & Interest 10% Min Deposit Redraw Extra Repayments More details	Available for purchase or refinance, min 10% deposit needed to qualify. No application, ongoing monthly or annual fees. Quick and easy online application process.	More details	Compare	Promoted	Disclosure
Unloan	Unloan Variable Rate Home Loan LVR < 80%	5.74% p.a.	5.65% p.a.	$2,915	Principal & Interest	Variable	$0	$0	80%	100% owned by Commbank Owner Occupier Variable Principal & Interest 20% Min Deposit Redraw More details	No application or ongoing fees. Annual rate discount Unlimited redraws & additional repayments. LVR <80% A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.	More details	Compare	Promoted	Disclosure
Ubank (part of NAB)	Ubank (part of NAB) Flex variable home loan - 100% offset	5.84% p.a.	6.08% p.a.	$2,947	Principal & Interest	Variable	$250	$250	60%	100% offset Owner Occupier Variable Principal & Interest 40% Min Deposit Offset Redraw More details	Easy application. Fast approval. 100% offset. Unlimited additional repayments free of charge. Redraw available - Access additional payments.	More details	Compare	Promoted	Disclosure

Important Information and Comparison Rate Warning

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. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. 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 . View disclaimer.

Important Information and Comparison Rate Warning

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Denise Raward

Denise Raward is a senior journalist with an interest in macroeconomics, property, and personal finances. She has worked extensively across mainstream media organisations and lectured at Queensland University of Technology, Griffith University, and Bond University. She holds a Bachelor of Business - Communication, a Master of Arts, and RG 146 financial certification in Generic Knowledge, Securities, and Regulation. Joining Savings.com.au in January 2024, Denise strives to deliver financial information in everyday language to help Australians to better understand how to manage their own – and their families' – ongoing financial health.

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Product Coverage and Sort Order

We strive to cover a broad range of products, providers, and services; however, we do not cover the entire market. Products in our comparison tables are sorted based on various factors, including product features, interest rates, fees, popularity, and commercial arrangements.

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Comparison Rate Warning and Base Criteria

For home loans, the base criteria include a $500,000 loan amount over 30 years. For car loans, the base criteria include a $30,000 loan over 5 years. For personal loans, the base criteria include a $20,000 loan over 5 years. These rates are only examples and may not include all fees and charges.

*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.

Monthly Repayment Figures

Monthly repayment figures are estimates that exclude fees. These estimates are based on the advertised rates for the specified term and loan amount. Actual repayments will depend on your circumstances and interest rate changes.

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.

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ANZ slashes fixed rate home loans

How do ANZ's new rates stack up?

How do ANZ's new fixed rates compare with the big four?

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Denise Raward

CBA cuts Digi home loan variable rate to 5.84%