Which Banks are passing on the new rate cut? June 2019
Bank interest rate movements for June 2019
Finally, after nearly 3 years of waiting, the cash rate has finally moved! On the 4th of June 2019 the RBA announced a reduction of 25 basis points (0.25%) from 1.50% to 1.25%.
Now Australia’s homeowners and buyers are closely watching the banks to see who will pass on the rate cuts. Below is our list of banks that have announced their rate movements along with their effective dates.
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.
Adelaide BankRate cut: 0.15%, 0.20%Effective date: 28 June 2019Applies to:
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AMPRate cut: 0.25%Effective date: New customers 21 June 2019, Existing customers 24 June 2019Applies to: All home loan rates |  |
ANZ BankRate cut: 0.18%Effective date: 14 June 2019Applies to: All home loan rates |  |
Auswide BankRate cut: 0.25%Effective date: 2 July 2019Applies to: P&I home loan rates |  |
Bank AustraliaRate cut: 0.25%Effective date: 24 June 2019Applies to: All home loan rates |  |
Bank of MelbourneRate cut: 0.35%, 0.20%Effective date: 18 June 2019Applies to:
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Bank of SydneyRate cut: 0.20%, 0.25%Effective date: 25 June 2019Applies to:
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BankSARate cut: 0.35%, 0.20%Effective date: 18 June 2019Applies to:
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BankwestRate cut: 0.25%Effective date: 25 June 2019Applies to: All home loan rates |  |
BOQRate cut: 0.25%Effective date: 25 June 2019Applies to: All home loan rates
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CitiRate cut: 0.25%Effective date: 25 June 2019Applies to: All home loan rates |  |
Commonwealth BankRate cut: 0.25%Effective date: 25 June 2019Applies to: All home loan rates |  |
Heritage BankRate cut: 0.20%Effective date: 21 June 2019Applies to: All home loan rates |  |
INGRate cut: 0.25%Effective date: 25 June 2019Applies to: All home loan rates |  |
Macquarie BankRate cut: 0.25%Effective date: 21 June 2019Applies to: All home loan rates |  |
ME BankRate cut: 0.25%Effective date: 27 June 2019Applies to: All home loan rates for new customers |  |
NABRate cut: 0.25%Effective date: 14 June 2019Applies to: All home loan rates |  |
Pepper MoneyRate cut: 0.25%Effective date: 24 June 2019Applies to: All home loan rates |  |
Qudos BankRate cut: 0.25%Effective date: 25 June 2019Applies to: All home loan rates for existing customers |  |
St. George BankRate cut: 0.35%, 0.20%Effective date: 18 June 2019Applies to:
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SuncorpRate cut: 0.20%Effective date: 21 June 2019Applies to: All home loan rates |  |
WestpacRate cut: 0.35%, 0.20%Effective date: 18 June 2019Applies to:
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** General Advice Warning
The information provided on this website is general in nature only and it does not take into account your personal needs or circumstances into consideration. Before acting on any advice, you should consider whether the information is appropriate to your needs and where appropriate, seek professional advice in relation to legal, financial, taxation, mortgage or other advice.
