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Which Banks are passing on the new rate cut? July 2019

Broker Support Assitant at Rateseeker
by Timothy Lou
02/07/2019 in Comparisons

Which Banks are passing on the new rate cut? July 2019

Bank interest rate movements for July 2019

The cash rate has been cut for the second month in a row! The RBA just announced yet another reduction of 25 basis points from 1.25% to 1.00%

Again, this leaves Australian borrowers with one question on their mind – will the banks pass on the reduction?

Stay tuned as we update this article on each of the lender’s 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 are for standard variable residential property loans only.

AMP

Rate cut: 0.20%

Effective date: 22 July 2019

Applies to: All home loan rates

AMP logo

ANZ Bank

Rate cut: 0.25%

Effective date: 12 July 2019

Applies to: All home loan rates

ANZ logo

Bank Australia

Rate cut: 0.16%

Effective date: 22 July 2019

Applies to: All home loan rates

Bank Australia logo

Bank of Melbourne

Rate cut: 0.20%, 0.30%

Effective date: 16 July 2019

Applies to:

  • All Owners Occupied home loan rates (0.20%)

  • P&I Investment home loan rates (0.20%)

  • IO Investment home loan rates (0.30%)

Bank of Melbourne logo

Bank of Sydney

Rate cut: 0.19%

Effective date: 23 July 2019

Applies to: All home loan rates

Bank of Sydney Logo

BankSA

Rate cut: 0.20%, 0.30%

Effective date: 16 July 2019

Applies to:

  • All Owners Occupied home loan rates (0.20%)

  • P&I Investment home loan rates (0.20%)

  • IO Investment home loan rates (0.30%)

Bank of South Australia Logo

Bankwest

Rate cut: 0.19%

Effective date: 23 July 2019

Applies to: All home loan rates

Bankwest logo

BOQ

Rate cut: 0.15%

Effective date: 23 July 2019

Applies to: All home loan rates

Bank of Queensland logo

Commonwealth Bank

Rate cut: 0.19%, 0.25%

Effective date: 23 July 2019

Applies to:

  • P&I home loan rates (0.19%)

  • IO home loan rates (0.25%)

Commonwealth Bank logo

ING

Rate cut: 0.20%

Effective date: 18 July 2019

Applies to: All home loan rates

ING logo

Macquarie Bank

Rate cut: 0.20%

Effective date: 18 July 2019

Applies to: All home loan rates

Macquarie Bank logo

ME Bank

Rate cut: 0.15%

Effective date: 23 July 2019

Applies to: All home loan rates for existing customers

ME Bank logo

NAB

Rate cut: 0.19%

Effective date: 12 July 2019

Applies to: All home loan rates

NAB logo

Qudos Bank

Rate cut: 0.15%

Effective date: 16 July 2019

Applies to: All home loan rates

Qudos Bank logo

Resimac

Rate cut: 0.25%

Effective date: 24 July 2019

Applies to: All home loan rates

Resimac logo

Suncorp

Rate cut: 0.19%

Effective date: 19 July 2019

Applies to: All home loan rates

Suncorp Bank logo

St. George

Rate cut: 0.20%, 0.30%

Effective date: 16 July 2019

Applies to:

  • All Owners Occupied home loan rates (0.20%)

  • P&I Investment home loan rates (0.20%)

  • IO Investment home loan rates (0.30%)

St George logo

Westpac

Rate cut: 0.20%, 0.30%

Effective date: 16 July 2019

Applies to:

  • All Owners Occupied home loan rates (0.20%)

  • P&I Investment home loan rates (0.20%)

  • IO Investment home loan rates (0.30%)

Westpac logo
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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.

*1.96% Interest rate based on an Owners Occupied, Principal and Interest, standard variable, minimum loan size of $250,000, maximum LVR of 80%, over a 25-year term. Eligibility is subject to servicing requirements, contact one of our specialised mortgage brokers for more information.

^1.97% Comparison rate based on a loan of $250,000 over a 25-year term. WARNING: The comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan.

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