The lenders to increase rates this week included Unity Bank, Greater Bank, and Gateway Bank.
Greater Bank in particular waved goodbye to what was probably the lowest home loan rate ever seen in Australia.
Larger bank Citi slashed some variable home loan rates, however.
Some highlights of the rate changes are below.
Unity Bank increases
- 1 Year Fixed P&I: 15 basis point increase to 2.39% p.a. (4.16% p.a. comparison rate*)
- 3 Year Fixed P&I: 15 basis point increase to 2.95% p.a. (3.99% p.a. comparison rate*)
- 5 Year Fixed P&I: 29 basis point increase to 3.49% p.a. (4.02% p.a. comparison rate*)
Greater Bank increases
- Great Rate Fixed 1 Year: 30 basis point increase to 1.89% p.a. (3.51% p.a. comparison rate*)
- Great Rate Fixed 2 Years: 20 basis point increase to 2.19% p.a. (3.41% p.a. comparison rate*)
- Great Rate Fixed 3 Years: 20 basis point increase to 2.74% p.a. (3.44% p.a. comparison rate*)
- Investment Great Rate Fixed 1 Year: 30 basis point increase to 2.19% p.a. (3.88% p.a. comparison rate*)
- Investment Great Rate Fixed 2 Years: 20 basis point increase to 2.49% p.a. (3.78% p.a. comparison rate*)
- Investment Great Rate Fixed 3 Years: 20 basis point increase to 2.99% p.a. (3.78% p.a. comparison rate*)
Gateway Bank increases
- Premium Residential Fixed 1 Year: 20 basis point increase to 2.49% p.a. (3.51% p.a. comparison rate*)
- Premium Residential Fixed 2 Years: 10 basis point increase to 2.59% p.a. (3.46% p.a. comparison rate*)
- Premium Residential Fixed 3 Years: 20 basis point increase to 2.89% p.a. (3.48% p.a. comparison rate*)
- Premium Residential Fixed 5 Years: 10 basis point increase to 3.49% p.a. (3.67% p.a. comparison rate*)
Citi decreases
- Basic Variable P&I 80%: 10 basis point cut to 2.09% p.a. (2.14% p.a. comparison rate*)
- Investment Basic Variable IO 80%: 11 basis point cut to 2.58% p.a. (2.63% p.a. comparison rate*)
- Investment Basic Variable P&I 80%: 28 basis point cut to 2.21% p.a. (2.26% p.a. comparison rate*)
NAB's acquisition of Citi is expected to be finalised in March.
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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 | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Additional Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
6.04% p.a. | 6.06% p.a. | $3,011 | Principal & Interest | Variable | $0 | $530 | 90% | 4.6 Star Customer Ratings |
| Promoted | Disclosure | |||||||||
5.99% p.a. | 5.90% p.a. | $2,995 | Principal & Interest | Variable | $0 | $0 | 80% | Apply in minutes |
| Promoted | Disclosure | |||||||||
5.69% p.a. | 6.16% p.a. | $2,899 | Principal & Interest | Fixed | $0 | $530 | 90% |
| Promoted | Disclosure |
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