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Emergency meeting sees RBA cut cash rate to 0.25%. Which banks have already passed it on?

How much can you save by refinancing?

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Today the Reserve Bank cut the cash rate for a second time in a month, leaving it sitting at yet another low of 0.25%. The decision was made on the heels of a stimulus package announced by the Federal Government earlier this week.

This means cheaper mortgage repayments and huge savings for Aussie homeowners, as it frees up a lot of extra cash. We’re seeing rates as low as 2.49% / 3.89% c.r.* and we expect banks and lenders to further drop their rates following this announcement.

Average homeowner can save $250+ each month

Today’s 0.25% drop, when combined with cuts in the last year, could save the average Australian homeowner an incremental $3,024* in interest over the next 12 months alone.

Loan sizeMonthly savingsAnnual Savings*
$800,000$504$6,048
$600,000$378$4,536
$400,000$252$3,024

*repayment rate based on a P&I loan over a 20-year term decreasing from 3.75% | 3.75% to 2.50% | 2.50%.

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How will the cut change your repayments?

If your rate hasn’t been renegotiated since January 2019 or it still starts with a 3, you could be paying thousands more than necessary every year. Now is a great time to find yourself a better deal so you can have greater financial security. All you need to do is answer a few questions about your loan.

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.

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

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

Stay tuned as we'll regularly update this list.

Last updated: 10am, 20th March 2020

BankMarch 19th cutApplies toEffective dateNew lowest variable rate
86 400Pending
Adelaide Bank  Pending
AMP Bank    Pending
ANZ BankPending
AthenaPending
Australian Unity    Pending
Auswide Bank    Pending
Bank Australia    Pending
Bank First    Pending
Bank of Melbourne   Pending
Bank of Sydney    Pending
BankSA   Pending
BankVic    Pending
Bankwest    Pending
BCU   Pending
Bendigo Bank  Pending
Beyond Bank    Pending
BOQ    Pending
Citi    Pending
Commonwealth Bank70 basis points1,2 & 3-year fixed-rate home loans2.29%
Community First Credit Union Pending
Credit Union SA   Pending
CUA    Pending
Defence Bank    Pending
Delphi Bank    Pending
FirstmacPending
Gateway Bank    Pending
G&C Mutual Bank    Pending
Greater BankPending
Heritage Bank    Pending
Homeloans.com.au    Pending
Homestar Finance   Pending
HSBC    Pending
Hume Bank    Pending
Hunter United    Pending
IMB Bank    Pending
ING    Pending
Liberty    Pending
Loans.com.au    Pending
Macquarie Bank   Pending
ME Bank    Pending
Mortgage House    Pending
MOVE Bank    Pending
MyState    Pending
NABPending
Newcastle Permanent   Pending
People’s Choice CU    Pending
Pepper Money    Pending
P&N Bank    Pending
QBank    Pending
Qudos Bank    Pending
RACQ BankPending
RAMSPending
Reduce Home LoansPending
Regional Australia Bank    Pending
Resimac    Pending
SCU    Pending
State CustodiansPending
St. George Bank   Pending
Suncorp Bank   Pending
The Mutual BankPending
Teachers Mutual Bank    Pending
Tic:Toc Home Loans    Pending
UBank    Pending
UniBank    Pending
Unity Bank    Pending
Virgin Money    Pending
WestpacPending

When did you last check your rate?

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.

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^ Repayment rate based on a $400,000, P&I loan over a 20-year term decreasing from 3.75% | 3.75% to 2.75% | 2.75%.

The information in this post is general in nature and should not be considered personal or financial advice. You should always seek professional advice or assistance before making any financial decisions.

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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.

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Check today's low rates

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

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Important legal stuff

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# 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 Aussie business. Our mission is to provide Aussies with the right experience when choosing a home loan from our panel of lenders including ClickLoans, a related body corporate of Auscred Services. Although Lendi compares over 1600 products from over 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 40% 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. We have an independent and founder led board.
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.
EXAMPLE: This example is current as at 20th October 2016. A Click Loans Online Principal and Interest Loan of $150,000 over 25 years has monthly repayments of $767. This is calculated based on the interest rate of 3.69%, comparison rate of 3.69%, upfront fees of $0 and annual fees of $0.
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.
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