Retail banks Citi and HSBC, plus Sydney-based non-bank lender Pacific Mortgage Group, are among those now offering sub-3.00% p.a. fixed rates for three years or more.

Notably, Citi even cut some of its five-year fixed loans below the 3.00% p.a. threshold for both owner-occupiers and investors.

On the surface, the newly advertised fixed rates compare favourably with some of the lowest variable home loan rates on the market, although there can be added dangers to fixed-rate products.

Below are some of the lowest variable home loan rates on offer across the big four banks, customer-owned banks and larger non-banks.

Rates
Features
Fees
Other
Lender
VariableMore details
4.6 Star Customer RatingsIncludes Nov RBA Rate Increase
4.6 Star Customer RatingsIncludes Nov RBA Rate Increase

loans.com.au – Variable Home Loan (LVR < 90%)

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    VariableMore details
    Unlimited Redraws
    • No annual fees – None!
    • Get fast pre-approval
    • Unlimited additional repayments free of charge
    • Redraw freely – Access your additional payments when you need them
    • Home loan specialists available today
    Unlimited Redraws

    ubank – Neat Variable Home Loan (Principal and Interest) (LVR < 60%)

    • No annual fees – None!
    • Get fast pre-approval
    • Unlimited additional repayments free of charge
    • Redraw freely – Access your additional payments when you need them
    • Home loan specialists available today
    More details
    VariableMore details

    ANZ – Standard Variable Home Loan (Principal and Interest) (LVR < 80%)

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      • Immediate cashback upon settlement
      • $2000 for loans up to $700,000
      • $4000 for loans over $700,000

      More details
      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 December 6, 2023. View disclaimer.

      Citi fixed rate cuts

      Citi cut a number of fixed-rate home loans for owner occupiers and investors by up to 70 basis points to as low as 2.74% p.a. (comparison rates differ, see below).

      Mortgage Plus (package) Standard home loans:

      • One-year fixed Mortgage Plus Standard for borrowers making P&I repayments with a loan size of 250k+ has been cut by 45 basis points to 2.74% p.a. (3.33% p.a. comparison rate*)
      • Two-year fixed Mortgage Plus Standard for borrowers making P&I repayments with a loan size of 250k+ has been cut by 45 basis points to 2.74% p.a. (3.31% p.a. comparison rate*)
      • Three-year fixed Mortgage Plus Standard for borrowers making P&I repayments with a loan size of 250k+ has been cut by 45 basis points to 2.74% p.a. (3.29% p.a. comparison rate*)
      • Five-year fixed Mortgage Plus Standard for borrowers making P&I repayments with a loan size of 250k+ has been cut by 45 basis points to 2.74% p.a. (3.26% p.a. comparison rate*)

      Standard Fixed home loans:

      • One-year Standard Fixed for borrowers making P&I repayments with a loan size of $250k+ has been cut by 45 basis points to 2.74% p.a. (5.24% p.a. comparison rate*)
      • Two-year Standard Fixed for borrowers making P&I repayments with a loan size of $250k+ has been cut by 45 basis points to 2.74% p.a. (5.00% p.a. comparison rate*)
      • Three-year Standard Fixed for borrowers making P&I repayments with a loan size of $250k+ has been cut by 45 basis points to 2.74% p.a. (4.79% p.a. comparison rate*)
      • Five-year Standard Fixed for borrowers making P&I repayments with a loan size of $250k+ has been cut by 45 basis points to 2.74% p.a. (4.42% p.a. comparison rate*)

      Investment loans (without Mortgage Plus):

      • One-year Investment Standard Fixed for borrowers making P&I repayments with a loan size of $250k+ has been cut by 70 basis points to 2.99% p.a. (5.26% p.a. comparison rate*)
      • Two-year Investment Standard Fixed for borrowers making P&I repayments with a loan size of $250k+ has been cut by 70 basis points to 2.99% p.a. (5.05% p.a. comparison rate*)
      • Three-year Investment Standard Fixed for borrowers making P&I repayments with a loan size of $250k+ has been cut by 70 basis points to 2.99% p.a. (5.26% p.a. comparison rate*)
      • Five-year Investment Standard Fixed for borrowers making P&I repayments with a loan size of $250k+ has been cut by 70 basis points to 2.99% p.a. (4.52% p.a. comparison rate*)

      HSBC fixed rate cuts

      HSBC cut some of its owner occupier fixed rates by up to 44 basis points to as low as 2.75% p.a. (comparison rates differ, see below).

      • One-year Premier Residential Fixed for borrowers making P&I repayments with a loan size of $500k+ has been cut by 24 basis points to 2.75% p.a. (3.50% p.a. comparison rate*)
      • Three-year Premier Residential Fixed for borrowers making P&I repayments with a loan size of $500k+ has been cut by 44 basis points to 2.75% p.a. (3.45% p.a. comparison rate*)
      • One-year Residential Fixed for borrowers making P&I repayments has been cut by 44 basis points to 2.75% p.a. (3.50% comparison rate*)

      Pacific Mortgage Group fixed rate cuts

      Lesser-known Pacific Mortgage Group have made smaller cuts to a couple of its fixed home loans for owner occupiers, slashing rates on both by 20 basis points to 2.74% p.a. (comparison rates differ, see below).

      • Two-year Residential Fixed for borrowers making P&I repayments has been cut by 20 basis points to 2.74% (2.83% p.a. comparison rate*)
      • Three-year Residential Fixed for borrowers making P&I repayments has been cut by 20 basis points to 2.74% (2.82% p.a. comparison rate*)


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