Following the news of a fall in the unemployment rate and a slight lift in inflation, the RBA is now widely-expected to hold rates steady, rather than cut. 

Two Queensland-based finance stalwarts were among the few Australian home loan lenders cutting home loan interest rates this week. 

Suncorp

Suncorp made cuts to a variety of home loan products, including loans for investors and owner occupiers, including both interest only (IO) and principal and interest (P&I) loans. 

Owner Occupiers

  • Back to Basics OO IO 150k+: An 81 basis point cut to 3.03% p.a. (3.04% p.a. comparison rate*)
  • Home Package Plus Variable OO IO 90% (Special Offer): A 55 basis point cut to 3.29% p.a. (3.65% p.a. comparison rate*)
  • Home Package Plus First Home Buyer Variable <90% LVR: A 55 basis point cut to 3.29% p.a. (3.30% p.a. comparison rate*)

Investors

  • Home Package Plus Package Investment Variable IO 90%: A 10 basis point cut to 4.87% p.a. (4.96% p.a. comparison rate*)

Be aware that 'Special Offer' rates may be withdrawn at any time. 

QBank

Q Bank made cuts to two of its home loan products:

  • Residential Fixed <95% LVR 3 yrs: A five basis point cut to 2.89% p.a. (3.75% p.a. comparison rate*)
  • Fixed Investor <90% LVR 3 yrs: A five basis point cut to 3.14% p.a. (4.12% p.a. comparison rate*)

To compare, here is a selection of owner-occupier variable low-rate P&I 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



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.

Ready, Set, Buy!


Learn everything you need to know about buying property – from choosing the right property and home loan, to the purchasing process, tips to save money and more!

With bonus Q&A sheet and Crossword!

Download Free
By subscribing you agree to our privacy policy