Understand where you bank stands
In June and July 2019 we saw two consecutive rate cuts to take rates to a record low of 1.00%.
In response, we’ve created a handy summary to understand how banks have responded to the cuts. See what percentage has been passed on from some of the major lenders, as well as the combined cut and lowest advertised rate for each of these lenders.
| Lender |
June Cut |
July Cut |
June + July Combined Cuts |
Lowest Advertised Rate |
| AMP Bank |
0.25% |
0.20% |
0.45% |
3.10% |
| ANZ Bank |
0.18% |
0.25% |
0.43% |
3.18% |
| Bank Australia |
0.25% |
0.16% |
0.41% |
2.94% |
| Bank of Sydney |
0.20-0.25% |
0.19% |
0.39-0.44% |
3.11% |
| Bankwest |
0.25% |
0.19% |
0.44% |
3.19% |
| Bendigo Bank |
0.15-0.20% |
0.15-0.20% |
0.30-0.40% |
3.29% |
| BOQ |
0.25% |
0.15% |
0.40% |
2.99% |
| Citi |
0.25% |
0.18% |
0.43% |
3.21% |
| Commonwealth Bank |
0.25% |
0.19-0.25% |
0.44-0.50% |
3.18% |
| IMB Bank |
0.25% |
0.18% |
0.43% |
3.36% |
| ING |
0.25% |
0.20% |
0.45% |
3.14% |
| Macquarie Bank |
0.25% |
0.20% |
0.45% |
3.19% |
| ME Bank |
0.25% |
0.15% |
0.40% |
3.39% |
| NAB |
0.25% |
0.19% |
0.44% |
3.09% |
| Pepper Money |
0.25% |
0.20% |
0.45% |
3.36% |
| Qudos Bank |
0.25% |
0.15% |
0.40% |
3.28% |
| St George Bank |
0.20% |
0.20-0.30% |
0.40-0.50% |
3.09% |
| Suncorp |
0.20% |
0.19% |
0.39% |
3.19% |
| Teachers Mutual Bank |
0.25% |
0.20% |
0.45% |
3.42% |
| Westpac |
0.20% |
0.20-0.30% |
0.40-0.50% |
3.18% |
| Rates as of 1st August 2019. The rates above are for a selection of the lenders we work with, but does not reflect all available lenders or products. Further, with some lenders there is an ability to negotiate a better rate than advertised. All rates are for Owner Occupied properties with Principal and Interest Payments. |
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Think you may be able to get a better rate?
Chat to us about your refinancing options. |
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