Which Banks are passing on the new rate cut?

Bank interest rate movements for March 2020

The cash rate has been cut to another record low from 0.75% to 0.50%.

Click Here to find out how banks are helping Australians during the coronavirus outbreak.

*March 19th update – Cash rate cut again to 0.25%. Stay tuned as we update this page again for the second interest rate movements.

If these new rates interest you and you’re thinking of buying a home or refinancing for a sharper rate contact one of our expert brokers to find out more and start saving!

*All rate cuts listed are for standard variable residential property loans.

Adelaide Bank Rate cut: 0.25% Effective date: 27 March 2020 Applies to: All home loan rates
AMP Rate cut: 0.25% Effective date: 30 March 2020 Applies to: All home loan rates
ANZ Rate cut: 0.25%, 0.35% Effective date: 13 March 2020 Applies to: All P&I home loan rates (0.25%) IO Owners Occupied home loan rates (0.25%) IO Investment home loan rates (0.35%)
Auswide Bank Rate cut: 0.25% Effective date: 05 March 2020 Applies to: ‘RBA Rate Tracker Home Loan’ only
Bank Australia Rate cut: 0.25% Effective date: 24 March 2020 Applies to: All home loan rates
Bank of Melbourne Rate cut: 0.25% Effective date: 17 March 2020 Applies to: All home loan rates
Bank of Queensland Rate cut: 0.17%, 0.25% Effective date: 3 April 2020 Applies to: All Owners Occupied home loan rates (0.17%) ALL Investment home loan rates (0.25%)
Bank of Sydney Rate cut: 0.25% Effective date: 24 March 2020 Applies to: All home loan rates for existing customers
BankSA Rate cut: 0.25% Effective date: 17 March 2020 Applies to: All home loan rates
Bankwest Rate cut: 0.25% Effective date: 18 March 2020 Applies to: All home loan rates
Citi Rate cut: 0.25% Effective date: 24 March 2020 Applies to: All home loan rates
Commonwealth Bank Rate cut: 0.25% Effective date: 24 March 2020 Applies to: All home loan rates 2nd Rate cut: 0.70% Effective date: 1 May 2020 Applies to: Fixed rate one, two and three-year owner-occupied P&I homeloans for new and existing customers
Heritage Bank Rate cut: 0.20% Effective date: 25 March 2020 Applies to: All home loan rates
ING Rate cut: 0.25% Effective date: 18 March 2020 Applies to: All home loan rates
Liberty Rate cut: 0.25% Effective date: 24 March 2020 Applies to: All home loan rates
Macquarie Bank Rate cut: 0.25% Effective date: 19 March 2020 Applies to: All home loan rates
ME Bank Rate cut: 0.25% Effective date: 26 March 2020 Applies to: All home loan rates for existing customers
MyState Bank Rate cut: 0.25% Effective date: 31 March 2020 Applies to: All home loan rates
NAB Rate cut: 0.25% Effective date: 13 March 2020 Applies to: All home loan rates for existing customers
Pepper Money Rate cut: Up to 0.25% Effective date: 16 March 2020 Applies to: All home loan rates for existing customers
Qudos Bank Rate cut: 0.25% Effective date: 23 March 2020 Applies to: All home loan rates
Resimac Rate cut: 0.25% Effective date: 26 March 2020 Applies to: All home loan rates for existing customers
St. George Rate cut: 0.25% Effective date: 17 March 2020 Applies to: All home loan rates
Suncorp Rate cut: 0.25% Effective date: 20 March 2020 Applies to: All home loan rates
Westpac Rate cut: 0.25% Effective date: 17 March 2020 Applies to: All home loan rates for existing customers