The rate is available to borrowers with a maximum loan-to-value ratio (LVR) of 75% and is one of the market's leading variable rates, according to research. 

The online lender has cut all variable principal and interest loans by 25 basis points and all variable interest only loans (including construction loans) by 10 basis points. 

No changes have been made to fixed rates, with all rates effective from Tuesday 10 March. 

The decision to reduce variable rates follows the Reserve Bank’s (RBA) 25 basis point cut to the cash rate last week, taking it to a record low 0.50%.

Some of the other notable cuts include: 

  • Smart Home Loan LVR 80% reduced by 25 basis points to 2.63% p.a (2.65% p.a comparison rate)
  • ZIP Home Loan reduced by 25 basis points to 2.83% p.a (2.85% p.a comparison rate) 
  • Offset variable owner-occupier 80-90% LVR reduced by 25 basis points to 2.87% p.a (2.89% p.a comparison rate)
  • Offset variable investor 80-90% LVR reduced by 25 basis points to 3.54% p.a (3.56% p.a comparison rate)
  • Owner-occupier construction loan reduced by 10 basis points to 4.01% p.a (3.51% p.a comparison rate)

Check out how the new rate matches up to some of the most competitive home loan rates currently on offer below.

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.
Principal & Interest
Online ExclusiveUp To $4K Cashback
5.99% p.a.
5.90% p.a.
Principal & Interest
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.

Managing Director Marie Mortimer said the cut on the standard variable rate for new and existing customers would ensure that remained a price leader in home loans.

“This is an amazing rate that we are only able to offer because of our super-efficient online-lending model”, Ms Mortimer said.

“Home owners who borrowed from a big bank should be taking the opportunity to shop around for a refinance now because we are offering rates the big banks simply can’t match.”’s home loans are now at record-low rates, with every Owner-Occupied Principal & Interest loan now offered at well below 3.00%, including loans with Redraw Offset Facilities.

Ms Mortimer said that many people didn’t realise the big savings they could make over time by switching to a lower rate home loan.

“For most people their home loan is the biggest financial commitment they will make in their lives so it is crucial to keep the costs down as much as possible.”

“Our research shows that most people who refinance find it is easier than they expected and wish they had moved earlier, so it really is worth the time to find out how much you could save and then grab one of these incredible rates.”

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