In the past seven days, ANZ, Westpac, Bankwest, Auswide Bank, Bank Australia, MOVE Bank, and People's Choice Credit Union all made cuts - large and small - to some of their home loan interest rates.

A variety of fixed-rate, variable-rate, interest only (IO) and principal and interest (P&I) loans were cut for customers with a range of LVRs. 

ANZ

ANZ made cuts to its 'Simplicity Plus' P&I home loan rates as a 'special offer' - be aware that offers can be withdrawn at any time. 

  • <80% LVR: 12 basis point cut to 3.12% p.a. (3.16% p.a. comparison rate*)
  • >80% LVR: 20 basis point cut to 3.38% p.a. (3.42% p.a. comparison rate*)

Westpac

Westpac made changes to a few of its investment home loans across two key product lines: Premier Advantage package and its regular investment loans. For 80% LVR loans, the cuts are as follows:

  • Premier Advantage P&I 1 year: 50 basis point cut to 3.19% p.a. (4.40% p.a. comparison rate*)
  • Premier Advantage P&I 4 years: 50 basis point cut to 3.19% p.a. (4.18% p.a. comparison rate*)
  • Premier Advantage P&I 5 years: 50 basis point cut to 3.19% p.a. (4.12% p.a. comparison rate*)
  • P&I 1 year: 50 basis point cut to 3.39% p.a. (5.32% p.a. comparison rate*)
  • P&I 4 years: 50 basis point cut to 3.39% p.a. (4.83% p.a. comparison rate*)
  • P&I 5 years: 50 basis point cut to 3.39% p.a. (4.69% p.a. comparison rate*)

Bankwest

Bankwest made numerous cuts to a variety of its fixed-rate products, including home loans for owner occupiers, and investors.

Owner occupiers

  • Complete P&I 5 years: 60 basis point cut to 3.19% p.a. (3.85% p.a. comparison rate*)
  • Complete P&I 4 years: 75 basis point cut to 3.49% p.a. (3.98% p.a. comparison rate*)
  • Complete P&I 3 years: six basis point cut to 2.93% p.a. (3.84% p.a. comparison rate*)
  • Complete P&I 2 years: 10 basis point cut to 3.09% p.a. (3.92% p.a. comparison rate*)
  • Complete P&I 1 year: 52 basis point cut to 3.49% p.a. (4.00% p.a. comparison rate*)

Investors

  • Complete P&I 5 years: 50 basis point cut to 3.49% p.a. (4.32% p.a. comparison rate*)
  • Complete P&I 4 years: 61 basis point cut to 3.79% p.a. (4.46% p.a. comparison rate*)
  • Complete P&I 3 years: 29 basis point cut to 3.29% p.a. (4.36% p.a. comparison rate*)
  • Complete P&I 2 years: nine basis point cut to 3.79% p.a. (4.52% p.a. comparison rate*)
  • Complete P&I 1 year: 32 basis point cut to 3.79% p.a. (4.56% p.a. comparison rate*)

The table below displays a snapshot of some low-rate, variable, owner-occupied home loans.

Update resultsUpdate
Filters
LenderHome LoanInterest 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 TagsFeaturesLinkComparePromoted ProductDisclosure
6.04% p.a.
6.06% p.a.
$3,011
Principal & Interest
Variable
$0
$530
90%
4.6 Star Customer Ratings
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Quick and easy online application process.
Disclosure
5.99% p.a.
5.90% p.a.
$2,995
Principal & Interest
Variable
$0
$0
80%
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.
 Disclosure
6.09% p.a.
6.11% p.a.
$3,027
Principal & Interest
Variable
$0
$250
60%
  • No annual fees – None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
 Disclosure
5.69% p.a.
6.16% p.a.
$2,899
Principal & Interest
Fixed
$0
$530
90%
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Flexibility to split your loan with both fixed and variable rates
 Disclosure
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.

Important Information and Comparison Rate Warning

Auswide Bank

  • Auswide Bank made a cut of 32 basis points to its Freedom Package fixed 3 year Special, for loans of 100k+ with <90% LVR, to 2.97% p.a. (3.99% p.a. comparison rate*)

Bank Australia

  • Bank Australia made a 30 basis point cut to its Basic Home Loan <90% LVR for loans 150k or more, to 2.95% p.a. (2.99% p.a. comparison rate*)

Move Bank

  • Move Bank made a 24 basis point cut to its Ultra Low Lockit 3 year fixed loan to 2.74% p.a. (3.82% p.a. comparison rate*)

People's Choice Credit Union

People's Choice made numerous cuts to its fixed investor home loans - both principal and interest, and interest only.

  • Package Fixed IO 2 years 100k+: 10 basis point cut to 3.44% p.a. (4.94% p.a. comparison rate*)
  • Package Fixed IO 3 years 100k+: 10 basis point cut to 3.44% p.a. (4.82% p.a. comparison rate*)
  • Package Fixed IO 4 years 100k+: 10 basis point cut to 3.94% p.a. (4.89% p.a. comparison rate*)
  • Package Fixed IO 5 years 100k+: 10 basis point cut to 4.04% p.a. (4.87% p.a. comparison rate*)
  • Package Fixed P&I 2 years 100k+: 10 basis point cut to 3.18% p.a. (4.65% p.a. comparison rate*)
  • Package Fixed P&I 3 years 100k+: 10 basis point cut to 3.28% p.a. (4.57% p.a. comparison rate*)
  • Package Fixed P&I 4 years 100k+: 10 basis point cut to 3.74% p.a. (4.63% p.a. comparison rate*)
  • Package Fixed P&I 5 years 100k+: 10 basis point cut to 3.74% p.a. (4.58% p.a. comparison rate*)


Disclaimers

In the interests of full disclosure, Savings.com.au and loans.com.au are part of the Firstmac Group. To read about Savings.com.au manages potential conflicts of interest, along with how we get paid, please click through onto the web site links.

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