Announcement posted by Infochoice 03 Nov 2019
More lenders have trimmed variable and fixed home loan rates to under three per cent.
“There are now 18 variable home loan rates for owner-occupiers starting with a 2,” said Vadim Taube, CEO of leading Australian financial comparison site InfoChoice.com.au,
“If your loan is charging you three and half or four per cent per annum, you are not getting anywhere near the lowest rate deal now available.
“Borrowers can now lock in sub-3 per cent home loan rates until 2024 with more long fixed-rate deals now coming down into the 2 per cent zone,” said Vadim Taube.
Low fixed-rate home loan rates now listed on InfoChoice 3/11/19
Lender
| Fixed Term
| Rate % pa
| Comparison rate % pa
|
UBank | 1 year UHomeLoan Fixed (OO, P&I) | 2.74 | 3.33 |
Well Home Loans | 2 year Well Balanced Fixed | 2.68 | 2.84 |
UBank | 3 years UHomeLoan Fixed (OO, P&I) | 2.69 | 3.19 |
St George / Bank of Melb | 4 years Fixed rate Advantage (LVR< 60%, OO, P&I) | 2.84 | 3.63 |
Citibank | 5 years Fixed Rate Loan OOC | 2.74 | 3.26 |
Ten low-rate variable (P&I,OO) home loans now listed on InfoChoice 3/11/19
Lender
| Loan
| Type
| Rate
| Comparison rate
|
Reduce Home Loans | Rate Slasher | Variable | 2.69 | 2.7 |
Reduce Home Loans | Low Rider Variable | Variable | 2.69 | 2.71 |
Reduce Home Loans | Rate Lovers | Variable | 2.77 | 2.79 |
Reduce Home Loans | Rate Buster | Variable | 2.77 | 2.78 |
Freedom Lend | Owner Occupied Variable P&I 80% | Variable | 2.79 | 2.79 |
G&C Mutual Bank | First Home Premium Package - Owner Occupied (P&I) | Variable | 2.79 | 2.79 |
Athena Home Loans | Owner Occupier Principal & Interest | Variable | 2.84 | 2.8 |
UBank | Discount Offer for Owner Occupied Variable P&I Rate (>$700,000) | Variable | 2.84 | 2.84 |
UBank | Discount Offer for Owner Occupied Variable P&I Rate over $200,000 | Variable | 2.84 | 2.84 |
loans.com.au | Smart Home Loan | Variable | 2.88 | 2.9 |
“Currently, savers can’t get an ongoing rate significantly above inflation from the big four banks, in either at-call accounts or term deposits.”
“Savers really need to be looking at some of the easy-to-open, online accounts to get the most competitive rates in the market,” said Vadim Taube, CEO of leading Australian financial comparison site InfoChoice.com.au.
“Judo Bank has market leading rates in the term deposit market and Greater Bank, ME, UBank, Bank Australia and BoQ are among the leaders in the at-call ongoing incentive saver market.
At-call incentive saver account market, excluding intro rates, now listed on InfoChoice.
Institution Title
| Product Title
| Base Rate <$1,000
| Max Rate - <$1000
|
Bank of Queensland | Fast Track Starter Account (for 14-24 years old) | 0.35 | 3.15 |
Community First Credit Union | Matrimoney | 2.5 | 2.5 |
Greater Bank Limited | Life Saver | 2.35 | 2.35 |
Bank Australia | mySaver | 0.1 | 2.25 |
MyState Bank | Bonus Saver | 0.55 | 2.25 |
Up | Up Saver Account | 0.5 | 2.25 |
86 400 | Save | 0.4 | 2.25 |
Illawarra Credit Union | Wildlife Saver | 0.05 | 2.2 |
ME | ME Online Savings Account (with ongoing bonus) | 0.5 | 2.2 |
Bank of Queensland | Fast Track Saver Account | 0.35 | 2.15 |
UBank | USaver Ultra Base rate 1.04%p.a. +1.06% p.a. = 2.10%p.a (Ts & Cs apply) | 1.04 | 2.1 |
Bank Australia | Bonus Saver Account | 0.05 | 2 |
Commonwealth Bank | Future Home Saver | 0.5 | 2 |
CUA | eSaver Reward | 0.05 | 2 |
Easy Street Financial Services | Bonus Saver | 0.01 | 2 |
RAMS | RAMS Saver (Earn 2.00% p.a, 1.15% p.a. when you deposit $200, make no withdrawals | 1.15 | 2 |
Go straight to 1800 home loan rates from 145 institutions listed on InfoChoice here.
Go straight to the latest rates information from individual banks and other institutions here.
For more information on Savings account rates, data and commentary, please contact:
Jason Bryce, Media Manager on 0428 777 727 jason.bryce@infochoice.com.au
For more comments, please contact: Vadim Taube, Chief Executive on 0403 580 794
Comparison rate is based on a secured loan of $150,000 over the term of 25 years. WARNING: These comparison rates apply only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and costs savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan
InfoChoice is a leading Australian comparison website for retail banking and personal finance products. We’ve been helping Aussies find great offers on credit cards, home loans, savings accounts, term deposits, personal loans and car loans for over 25 years. Our mission is to help consumers make an informed purchasing by bringing together the most comprehensive list of financial products on the market today.
At InfoChoice, we strive to be:
• Comprehensive. We compare more than 3500 individual products from 145 providers within Australia to offer you the best value.
• Informative. We know how important it is for you to crunch the numbers before buying. Our calculators help you understand the cost of different products over the long term and show you the potential savings.