Home News Bendigo Bank, Adelaide Bank, Newcastle Permanent among latest lenders to announce cuts

Bendigo Bank, Adelaide Bank, Newcastle Permanent among latest lenders to announce cuts

Bendigo Bank, Newcastle Permanent and Adelaide Bank are now offering interest rates as low as 2.99%.

First published on 20 Sep 2019

Bendigo Bank, Adelaide Bank, Newcastle Permanent among latest lenders to announce cuts

It’s been over two months since the Reserve Bank lowered the official cash rate to a historically low 1.00% but the rate cuts keep coming.

If you’ve been holding out for the right home loan, here are some of the latest cuts to interest rates for owner-occupiers.

Bendigo Bank rate cuts

Bendigo Bank announced it will be reducing rates by up to 20 basis points on fixed-rate loans for owner-occupiers and investors.

Rate cuts for owner-occupiers:

Two-year basic fixed rates for borrowers paying principal and interest (P&I) have been cut to 2.99 p.a. (3.51% p.a. comparison rate*)
Three-year basic fixed rates for borrowers paying principal and interest (P&I) have been cut to 3.19 p.a. (3.53% p.a. comparison rate*)

Rate cuts for investors:

Two-year basic fixed for borrowers making P&I repayments have been reduced to 3.39% p.a. (3.95% p.a comparison rate*)
Three-year basic fixed for borrowers making P&I repayments have been reduced to 3.59% p.a. (3.96% p.a comparison rate*)

Newcastle Permanent rate cuts

Premium Plus Package customers can enjoy low rates of 2.99% p.a. (comparison rates differ, see below).

Two-year fixed rates for borrowers making interest-only (IO) repayments for a loan size of over $5k have been cut to 2.99% p.a. (4.14% p.a. comparison rate*)
Three-year fixed rates for borrowers making interest-only (IO) repayments for a loan size of over $5k have been cut to 2.99% p.a. (4.06% p.a. comparison rate*)
Two-year fixed rates for borrowers making P&I repayments for a loan size of over $5k have been cut to 2.99% p.a. (4.16% p.a. comparison rate*)
Three-year fixed rates for borrowers making P&I repayments for a loan size of over $5k have been cut to 2.99% p.a. (4.08% p.a. comparison rate*)

Adelaide Bank rate cuts

Adelaide Bank has cut rates by up to 60 basis points on fixed home loans for its SmartSaver and SmartFix products.

SmartSaver cuts:

One-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.30% p.a. comparison rate*)
Two-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.28% p.a. comparison rate*)
Three-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.44% p.a. comparison rate*)
Four-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.42% p.a. comparison rate*)
Five-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.40% p.a. comparison rate*)

SmartFix cuts:

One-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.49% p.a. comparison rate*)
Two-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.46% p.a. comparison rate*)
Three-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.44% p.a. comparison rate*)
Four-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.42% p.a. comparison rate*)
Five-year fixed home loans for borrowers making P&I repayments have been reduced to 2.99% p.a. (3.40% p.a. comparison rate*)

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Bendigo Bank, Adelaide Bank, Newcastle Permanent among latest lenders to announce cuts

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