This follows from Citi's announcement that it will cease Australian banking, with the exact date to be advised, pending sell-off.

Citi's fixed home loans to get hiked this week were all raised by 30 basis points. A couple of highlights include:

  • Standard Fixed P&I 5 Years 80% LVR: Up to 2.59% p.a. (4.22% p.a. comparison rate*)
  • Investor Standard Fixed P&I 5 Years 80% LVR: Up to 2.89% p.a. (4.34% p.a. comparison rate*)

Meanwhile, some of Citi's variable home loans to get an interest rate reduction were:

  • Basic Variable P&I 80% 350k+: 15 basis point cut to 2.44% p.a. (2.49% p.a. comparison rate*)
  • Investor Basic Variable P&I 80% 350k+: 10 basis point cut to 2.69% p.a. (2.74% p.a. comparison rate*)

Other home loans like Citi's 'Mortgage Plus' packaged home loans were cut by up to 20 basis points. 

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.

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

Move Bank also raised its 'Complete Package' home loan for owner occupiers fixed for one year paying principal and interest (P&I) by 10 basis points.

It now sits at 2.09% p.a. (3.12% p.a. comparison rate*).

Raising home loan rates has been an emerging trend of late, with UBank and Aussie having done so recently.

Westpac also hiked four and five-year fixed loans by up to 30 basis points towards the end of April.

There are various reasons for this, including the Reserve Bank signalling the cash rate will rise in 2024, and potentially earlier, as well as the Term Funding Facility - which provides cheap funding for banks - rolling back in June.

Photo by Joshua Lawrence on Unsplash



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