The increases were seen across fixed and 'Wealth Package' home loans, paying principal & interest (P&I), and interest only (IO). Details are:

  • Residential Fixed 3 Years P&I: 5 basis point rise to 2.34% p.a. (4.12% p.a. comparison rate*)
  • Residential Fixed 4 Years P&I: 5 basis point rise to 2.39% p.a. (3.97% p.a. comparison rate*)
  • Residential Fixed 3 Years IO: 10 basis point rise to 3.64% p.a. (4.45% p.a. comparison rate*)
  • Residential Fixed 5 Years IO: 10 basis point rise to 4.04% p.a. (4.48% p.a. comparison rate*)
  • Wealth Package 3 Years IO: 10 basis point rise to 3.49% p.a. (4.15% p.a. comparison rate*)
  • Wealth Package 5 Years IO: 10 basis point rise to 3.89% p.a. (4.24% p.a. comparison rate*)
  • Wealth Package 3 Years P&I: 5 basis point rise to 2.19% p.a. (3.85% p.a. comparison rate*)
  • Wealth Package 4 Years P&I: 5 basis point rise to 2.24% p.a. (3.74% p.a. comparison rate*)

The four-year packaged loan was previously one of the first of the big four banks' home loans to be cut below the 2% threshold after November 2020's Reserve Bank rate cut.

MyState Bank decreases variable rates

MyState Bank has decreased variable interest rates on some owner occupier home loans by 10 basis points. The cuts were mainly for borrowers with larger deposits, between 60 and 80% LVR.

  • Basic Variable 80%: Down to 2.49% p.a. (2.52% p.a. comparison rate*)
  • Basic Variable 70%: Down to 2.44% p.a. (2.47% p.a. comparison rate*)
  • Basic Variable 60%: Down to 2.39% p.a. (2.42% p.a. comparison rate*)

Note that the latter two appear to be 'Special Offers', meaning the offer could be withdrawn any time, or that borrowers may need to sign up by a certain date.


Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

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.
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
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 March 4, 2024. View disclaimer.





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