Back to Inspire Home

RBA cuts the cash rate to record low. But, how much can you save?

How much can you save by refinancing?

Find out what your new repayments might be in seconds.

Find a deal now

Well, they’ve done it again! On Tuesday, the Reserve Bank of Australia dropped the cash rate by another 0.25%. Following June’s cut of 0.25%, the Australian cash rate now sits at a historical low of 1.00%.

Aussies could save $1,200, or more, over the next 12 months

Many of Australia's banks and lenders have already passed on the cut and reduced their home loan interest rates. These recent cuts, if applied directly and in full, could save the average Australian with a $380,000 home loan, an incremental $1,200^ in interest per year.

See how much you could save with a lower rate

Calculate your loan repayments


What if your bank hasn’t passed on the RBA rate cut?

If your lender has not passed down this cut, it’s worth reviewing your options to see if there are savings to be made that can help put you in a financially stronger position.

Below we've listed all of the banks and lenders who have already passed on the 0.25% rate cut to their home loan customers, and the lenders still waiting. It's worth noting that most of those who have moved are not making those rates available for a few weeks.

Which banks and lenders have already passed on the 0.25% RBA cash rate cut

Last updated: 2pm, 4th July 2019

BankJuly updateJune updateEffective dateLowest variable offer
Adelaide Bank  Pending25 bps
AMP Bank    Pending25 bps
ANZ Bank25bps18 bpsJuly 123.38%
Athena25 bps25 bpsJuly 023.09%
Australian Unity    Pending
Auswide Bank    Pending25 bps
Bank Australia    Pending25 bps
Bank First    Pending7-30 bps
Bank of Melbourne   20bps20-35 bpsJuly 163.39%
Bank of Sydney    Pending20-25 bps
BankSA   20 bps20-35 bpsJuly 163.39
BankVic    Pending
Bankwest    Pending25 bps
BCU   Pending25 bps
Bendigo Bank  Pending20 bps
Beyond Bank    Pending
BOQ    Pending25 bps
Citi    25bps25 bpsJuly 024.27%
ClickLoans    Pending
Commonwealth Bank19 bps25 bpsJuly 233.35%
Community First Credit Union Pending
Credit Union SA   Pending
CUA    Pending10-25 bps
Defence Bank    Pending25 bps
Delphi Bank    Pending
Easy Street    Pending
Gateway Bank    Pending25 bps
G&C Mutual Bank    Pending
Greater Bank25 bps25 bpsJuly 293.32%
Heritage Bank    Pending20 bps    Pending
Homestar Finance   25bps25 bpsJuly 022.99%
Homestart Finance    Pending
HSBC    Pending22 bps
Hume Bank    Pending
Hunter United    Pending25-41 bps
IMB Bank    Pending25 bps
ING    20 bps25 bpsJuly 183.14%
Liberty    Pending    25 bps20 bpsJuly 263.03%
Macquarie Bank   20bps25 bpsJuly 053.34%
ME Bank    15 bps25 bpsJuly 233.39%
Mortgage House    Pending
MOVE Bank    Pending
MyState    Pending
NAB19bps25 bpsJuly 123.35%
Newcastle Permanent   25 bps25 bpsJuly 293.24%
People’s Choice CU    Pending25 bps
Pepper Money    Pending25 bps
P&N Bank    Pending18-39 bps
QBank    Pending
Qudos Bank    Pending25 bps
RACQ Bank25bps25 bpsJuly3.19%
RAMSPending20-35 bps
Reduce Home Loans22bps25 bpsJuly 022.89%
Regional Australia Bank    Pending
Resi    25 bpsJuly 263.32%
SCU    Pending
State Custodians0.25July 243.15%
St. George Bank   20bps20-35 bpsJuly 163.58%
Suncorp Bank   Pending20 bps
The Mutual Bank20 bpsJuly 193.38%
Teachers Mutual Bank    Pending
Tic:Toc Home Loans    Pending
UBank    Pending25 bps
UniBank    Pending
Unity Bank    Pending
Virgin Money    Pending22 bps
Westpac20bps20-35 bpsJuly 163.58%

Don’t miss out on savings

If you are planning to refinance or buy a property, it pays to be prepared. Make sure your home loan application details are up to date so you can be ready to go as lenders dropping their rates.

Check today's low rates

Tell us what you are looking for and see if you can save.

Search rates

Background: What is the RBA cash rate update?

On the first Tuesday of every month (except in January), the Reserve Bank of Australia (RBA) sets the cash rate. They decide whether to raise it, lower it or leave it the same, depending on a number of factors, including the performance of the Australian dollar, the state of the housing market and inflation.

The last time the cash rate rose was in November 2010. Since then, the general trend has been for the rate to remain the same, decreasing only every so often. Prior to June 4 2019, The last decrease was in August 2016.

Got a home loan question?

We're here to help. Get free expert advice at a time that suits you. Choose a time to chat with a Home Loan Specialist here.

^repayment rate based on a $380,000, P&I loan over a 20-year term decreasing from 4.25%/4.25% to 3.75%/3.75%.

Check today's low rates

Tell us what you are looking for and see if you can save.

Search rates

Tags: rba cash rate, reserve bank, interest rate, refinance, new purchase

Check today's low rates

Tell us what you are looking for and see if you can save.

Search rates

Check today's low rates

Tell us what you are looking for and see if you can save.

Search rates
Home loan repayment saver tool

Home loan repayment saver tool

Enter a few details about your home loan and see how much you could save on your repayments

Important legal stuff

Lendi is the trading name of Lendi Pty Ltd (ACN 611 161 856), a related body corporate of Auscred Services Pty Ltd (ACN 164 638 171, Australian Credit Licence 442372). We will never sell your email address to any third party or send you nasty spam, promise.
# Quoted rate applies only to PAYG loans with LVR of 80% or less with security in non-remote areas. All applications are subject to assessment and lender approval.
Lendi is a privately owned and operated Australian business. Our mission is to change the way Australians get home loans by providing a faster, smarter and more secure home loan experience designed around the customer’s convenience and needs. Although Lendi compares over 1600 products (2,500+ products including feature and pricing variations) from more than 35 lenders, we don't cover the whole market or compare all features and there may be other features or options available to you. While Lendi is 35% owned by founders and employees, we have also been supported by some great minority shareholders including Bailador, Macquarie Bank Ltd and a number of Australian sophisticated investors.
*WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. The comparison rates are based on a loan amount of $150,000 over a loan term of 25 years. Fees and charges apply. All applications are subject to assessment and lender approval. Quoted rate applies only to PAYG loans with LVR of 80% or less with security in non-remote areas. All applications are subject to assessment and lender approval.
IMPORTANT INFORMATION: Loan terms of between 1 Year and 40 Years are available subject to lender and credit criteria. Maximum comparison rate will not exceed 14.99% (see comparison rate warning above). Any calculations or estimated savings do not constitute an offer of credit or a credit quote and are only an estimate of what you may be able to achieve based on the accuracy of the information provided. It doesn't take into account any product features or any applicable fees. Our lending criteria and the basis upon which we assess what you can afford may change at any time without notice. Savings shown are based on user inputted data and a loan term of 30 years. All applications for credit are subject to lender credit approval criteria.
Made with love at Circular Quay in Sydney, Australia. © 2021. All rights reserved.