The changes, effective today, are the fourth round of rate cuts by the lender since the RBA first cut the cash rate in June.

BOQ owner-occupied fixed principal and interest rate changes

  • Five-year fixed loans reduced by 60 basis points to 3.89% p.a. (4.03% p.a. comparison rate*)
  • Four-year fixed loans reduced by 50 basis points to 3.89% p.a. (4.03% p.a. comparison rate*)
  • Two-year fixed loans reduced by 35 basis points to 3.74% p.a. (4.00% p.a. comparison rate*)

BOQ owner-occupied fixed interest-only rate changes

  • Five-year fixed interest-only loans reduced by 50 basis points to 4.09% p.a. (4.11% p.a comparison rate*)
  • Four-year fixed interest-only loans reduced by 40 basis points to 4.09% p.a. (4.09% p.a. comparison rate*)
  • Three-year fixed interest-only loans reduced by 20 basis points to 4.19% p.a. (4.10% p.a. comparison rate*)
  • Two-year fixed interest-only loans reduced by 45 basis points to 3.84% p.a. (4.01% p.a. comparison rate*)

BOQ investment fixed principal and interest rate changes

  • Five-year investment fixed principal and interest loans reduced by 50 basis points to 4.09% p.a. (4.26% p.a. comparison rate*)
  • Four-year investment fixed principal and interest loans reduced by 40 basis points to 4.09% p.a. (4.27% p.a. comparison rate*)
  • Three-year investment fixed principal and interest loans reduced by 20 basis points to 4.19% p.a. (4.29% p.a. comparison rate*)
  • Two-year investment fixed principal and interest loans reduced by 45 basis points to 3.84% p.a. (4.23% p.a. comparison rate*)

BOQ investment fixed interest-only rate changes

  • Five-year investment fixed interest-only loans reduced by 50 basis points to 4.19% p.a. (4.30% p.a. comparison rate*)
  • Four-year investment fixed interest-only loans reduced by 40 basis points to 4.19% p.a. (4.30% p.a. comparison rate*)
  • Three-year investment fixed interest-only loans reduced by 20 basis points to 4.29% p.a. (4.32% p.a. comparison rate*)
  • Two-year investment fixed interest-only loans reduced by 55 basis points to 3.84% p.a. (4.32% p.a. comparison rate*)

The bank has also cut on a number of discounted rate and speciality products, including the Home Loan Privileges package product which has also had rates reduced by up to 60 basis points.

BOQ has been contacted for comment on these changes.

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.

Update resultsUpdate
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
$2,408
Principal & Interest
Variable
$0
$530
70%
Online ExclusiveUp To $4K Cashback
5.99% p.a.
5.90% p.a.
$2,396
Principal & Interest
Variable
$0
$0
80%
Featured Apply 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.
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.

MOVE Bank slashes rates on more than half of its home loans

MOVE Bank has made similar changes to BOQ, last Thursday announcing cuts of up to 60 basis points on nine of its home loan products.

MOVE Bank fixed home loan rate changes

  • ‘Ultra-Low Lockit’ three year Fixed Home Loan reduced by 37 basis points to 2.98% p.a. (4.06% p.a. comparison rate*)
  • ‘Straightforward Home Loan’ reduced by 15 basis points to 3.09% p.a. (3.12% p.a. comparison rate*)
  • ‘First Home Loan’ – one-year Intro Rate reduced by 20 basis points to 3.19% p.a. (3.68% p.a. comparison rate*)
  • One-year Flexi fixed-rate home loan reduced by 60 basis points 3.19% p.a. (4.32% p.a. comparison rate*)
  • Two-year Flexi fixed-rate home loan reduced by 60 basis points to 3.29% p.a. (4.23% p.a. comparison rate*)
  • Three-year Flexi fixed-rate home loan reduced by 60 basis points to 3.39% p.a. (4.17% p.a. comparison rate*)
  • One-year ‘Investment Lockit’ rate home loan reduced by 100 basis points to 3.19% p.a. (4.90% p.a. comparison rate*)
  • Three-year ‘Investment Lockit rate’ home loan reduced by 45 basis points to 3.39% p.a. (4.64% p.a. comparison rate*)
  • Five-year ‘Lockit’ fixed-rate home loan reduced by 60 basis points 3.79% p.a. (4.18% p.a. comparison rate*)

MOVE Bank CEO Therese Turner said the cuts were the result of the bank’s commitment to ensuring their rates offered maximum value.

“After two consecutive months of RBA cash rate reductions, we have seen significant levels of interest rate movement within the home loan market,” Ms Turner said.

“Once the market settled, we reviewed our rates again and saw there was an opportunity to re-establish our position as a market leader with our award-winning home loans.”

The new rates are available now for new loans and come into effect as of 1 September 2019 for existing variable product holders.

HomeStart Finance announces fixed rate cuts

HomeStart Finance has also decreased fixed rates by up to 50 basis points, effective today.

HomeStart was founded as part of an initiative of the South Australian state government, with the primary purpose of assisting first home buyers (FHBs) by offering low-deposit home loan products.

HomeStart fixed home and graduate loan rate changes

  • One year rate reduced by 20 basis points to 4.49% p.a. (4.97% p.a. comparison rate*)
  • Two-year rate reduced by 50 basis points to 3.99% p.a. (4.85% p.a. comparison rate*)
  • Three-year rate reduced by 50 basis points to 3.99% p.a. (4.78% p.a. comparison rate*)

HomeStart low deposit fixed-rate loan changes

  • One year rate reduced by 20 basis points to 5.49% p.a. (5.06% p.a. comparison rate*)
  • Two-year fixed rate reduced by 50 basis points to 4.99% p.a. for the first year and 3.99% p.a. for the second year (4.94% p.a. comparison rate*)
  • Three-year fixed rate reduced by 50 basis points to 4.99% p.a. for the first year and 3.99% p.a. for the second and third year (4.86% p.a. comparison rate*)




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