With interest rates on home loans now as low as 2.69% (at the time of writing), the pressure is on lenders to drop their rates.
Australian Unity, My State Bank and QBANK have done just that, cutting rates on a number of their home loan products.
One lender has dropped their rates by as much as 80 basis points.
Looking for a low variable rate home loan? The table below displays owner-occupier products which may represent the best of the big four banks, best of the top 10 customer-owned banks and the best of the larger non-banks.
Lender | |||||||||||||
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Variable | More details | ||||||||||||
4.6 Star Customer RatingsIncludes Nov RBA Rate Increase | |||||||||||||
loans.com.au – Variable Home Loan (LVR < 90%) | |||||||||||||
Variable | More details | ||||||||||||
FEATUREDUnlimited Redraws | ubank – Neat Variable Home Loan (Principal and Interest) (LVR < 60%)
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ubank – Neat Variable Home Loan (Principal and Interest) (LVR < 60%)
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Variable | More details | ||||||||||||
ANZ – Standard Variable Home Loan (Principal and Interest) (LVR < 80%) |

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Australian Unity rate cuts
The Australian mutual company has reduced some of its rates by up to 10 basis points, effective from 13 November for new customers on fixed-rate loans.
- One-year fixed Health Wealth Happiness Package for borrowers on principal and interest (P&I) repayments has been cut by 5 basis points to 2.94% p.a. (3.54% p.a. comparison rate*)
- Three-year fixed Health Wealth Happiness Package for borrowers on principal and interest (P&I) repayments has been cut by 5 basis points to 2.94% p.a. (3.51% p.a. comparison rate*)
- Five-year fixed Health Wealth Happiness Package for borrowers on principal and interest (P&I) repayments has been cut by 10 basis points to 3.09% p.a. (3.54% p.a. comparison rate*)
- One-year fixed Health Wealth Happiness for borrowers on principal and interest (P&I) repayments has been cut by 5 basis points to 3.09% p.a. (3.32% p.a. comparison rate*)
- Three-year fixed Health Wealth Happiness for borrowers on principal and interest (P&I) repayments has been cut by 5 basis points to 3.09% p.a. (3.28% p.a. comparison rate*)
- Five-year fixed Health Wealth Happiness for borrowers on principal and interest (P&I) repayments has been cut by 10 basis points to 3.24% p.a. (3.31% p.a. comparison rate*)
MyState Bank rate cuts
The Tasmanian-based lender has made some pretty chunky cuts, reducing rates by up to 80 basis points.
The rate cuts apply to fixed-rate loans for investors and owner-occupiers, effective from 13 November.
Rate cuts for owner-occupiers:
- One-year Residential fixed for borrowers with an LVR of 80% has been cut by 40 basis points to 3.39% p.a. (4.71% p.a comparison rate*)
- Two-year Residential fixed for borrowers with an LVR of 80% has been cut by 40 basis points to 3.19% p.a. (4.53% p.a comparison rate*)
- Three-year Residential fixed for borrowers with an LVR of 80% has been cut by 50 basis points to 3.19% p.a. (4.42% p.a comparison rate*)
Rate cuts for investors:
- Two-year Investment fixed for borrowers with an LVR of 80% has been cut by 30 basis points to 3.49% p.a. (4.59% p.a. comparison rate*)
- Three-year Investment fixed for borrowers with an LVR of 80% has been cut by 50 basis points to 3.39% p.a. (4.47% p.a. comparison rate*)
- Three-year Investment fixed for borrowers with an LVR of 90% has been cut by 70 basis points to 3.59% p.a. (4.53% p.a. comparison rate*)
- Three-year Investment fixed for borrowers with interest-only (IO) repayments has been cut by 80 basis points to 3.49% p.a. (4.51% p.a. comparison rate*)
QBANK rate cuts
The member-owned bank for emergency service workers has cut variable rates effective from 15 November.
- Classic Offer for borrowers with an LVR of 90% has been cut by 15 basis points to 3.04% p.a. (3.07% p.a. comparison rate*)
- Classic Offer for borrowers with an LVR of 95% has been cut by 15 basis points to 3.30% p.a. (3.33% p.a. comparison rate*)
- First Home Buyers Classic Offer for borrowers with an LVR of 95% has been cut by 15 basis points to 3.30% p.a. (3.33% p.a. comparison rate*)

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