BankVic and Yellow Brick Road have gotten in the Christmas spirit by dropping their fixed and variable home loan rates by as much as 109 basis points.

Home loan interest rates have been on the downwards slide for large parts of the year thanks to the Reserve Bank, who have made not one, not two, but three cuts to the official cash rate. It's now sitting at a historically low 0.75%.

With a fourth interest rate cut likely on the way in February, it's unlikely these will be the last cuts to home loan interest rates we'll see so it may be worth holding out before fixing your loan.

The table below displays a selection of variable-rate home loans on offer, featuring a low-rate pick from each of the following three categories: the big four banks, the top 10 customer-owned banks, and the larger non-banks.

Lender

VariableMore details
Online ExclusiveUp To $4K Cashback
  • Immediate cashback upon settlement
  • $2,000 for loans up to $700,000
  • $4,000 for loans over $700,000
Online ExclusiveUp To $4K Cashback

loans.com.au – Variable Basic Cashback Home Loan (Principal and Interest) (LVR < 70%)

  • Immediate cashback upon settlement
  • $2,000 for loans up to $700,000
  • $4,000 for loans over $700,000
VariableMore details
Refinance OnlyApply In Minutes
  • 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.
Refinance OnlyApply In Minutes

Unloan – Variable Rate Home Loan – Refinance Only

  • 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.
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 February 28, 2024. View disclaimer.

BankVic home loan rate cuts:

BankVic has cut its fixed home loan rates by up to 99 basis points across its fixed home loans for investors and owner occupiers.

For owner occupiers:

  • Premium Home two-year fixed 50k+ has been cut by 24 basis points to 2.75% p.a.(3.95% p.a. comparison rate*)
  • Premium Home three-year fixed 50k+ has been cut by 48 basis points to 2.75% p.a. (3.84% p.a. comparison rate*)
  • Premium Home five-year fixed 50k+ has been cut by 99 basis points to 2.95% p.a. (3.72% p.a. comparison rate*)
  • Two-year fixed has been cut by 24 basis points to 2.85% p.a. (3.97% p.a. comparison rate*)
  • Three-year fixed has been cut by 48 basis points to 2.85% p.a. (3.87% p.a. comparison rate*)
  • Four-year fixed has been cut by 109 basis points to 3.05% p.a. (3.83% p.a. comparison rate*)
  • Five-year fixed has been cut by 99 basis points to 3.05% p.a. (3.76% p.a. comparison rate*)

For investors:

  • Premium Home Investor fixed two-years 50k+ has been cut by 20 basis points to 3.29% p.a. (4.69% p.a. comparison rate*)
  • Premium Home Investor fixed three-years 50k+ has been cut by 28 basis points to 3.29% p.a. (4.43% p.a. comparison rate*)
  • Premium Home Investor fixed four-years 50k+ has been cut by 80 basis points to 3.49% p.a. (4.39% p.a. comparison rate*)
  • Premium Home Investor fixed five-years 50k+ has been cut by 70 basis points to 3.49% p.a. (4.29% p.a comparison rate*)

Yellow Brick Road home loan rate cuts:

Yellow Brick Road have made some smaller cuts to their fixed and variable home loan rates for owner occupiers, dropping by 6 basis points. 

  • Flexi Options 60% Special Offer has been cut by 6 basis points to 3.08% p.a. (3.12% p.a. comparison rate*)
  • Flexi Options 80% Special Offer has been cut by 6 basis points to 3.08% p.a. (3.12% p.a. comparison rate*)
  • Flexi Options 90% Special Offer has been cut by 6 basis points to 3.08% p.a. (3.12% p.a. comparison rate*)
  • Flexi Options Fixed P&I two-years special offer has been cut by 6 basis points to 3.08% p.a. (3.12% p.a. comparison rate*)
  • Flexi Options Fixed P&I three-years special offer has been cut by 6 basis points to 3.08% p.a. (3.12% p.a. comparison rate*)




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