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.

AMP

Rate cut: 0.25%

Effective date: New customers 21 June 2019, Existing customers 24 June 2019

Applies to: All home loan rates

AMP logo

ANZ Bank

Rate cut: 0.18%

Effective date: 14 June 2019

Applies to: All home loan rates

ANZ logo

Auswide Bank

Rate cut: 0.25%

Effective date: 2 July 2019

Applies to: P&I home loan rates

Auswide Bank logo

Bank Australia

Rate cut: 0.25%

Effective date: 24 June 2019

Applies to: All home loan rates

Bank Australia logo

Bank of Melbourne

Rate cut: 0.35%, 0.20%

Effective date: 18 June 2019

Applies to:

  • IO Investment home loan rates (0.35%)

  • All other home loan rates (0.20%)

Bank of Melbourne logo

Bank of Sydney

Rate cut: 0.20%, 0.25%

Effective date: 25 June 2019

Applies to:

  • Investment home loan rates (0.20%)

  • All other home loan rates (0.25%)

Bank of Sydney Logo

BankSA

Rate cut: 0.35%, 0.20%

Effective date: 18 June 2019

Applies to:

  • IO Investment home loan rates (0.35%)

  • All other home loan rates (0.20%)

Bank of South Australia Logo

Bankwest

Rate cut: 0.25%

Effective date: 25 June 2019

Applies to: All home loan rates

Bankwest logo

BOQ

Rate cut: 0.25%

Effective date: 25 June 2019

Applies to: All home loan rates

  • Exception: Clear Path Owners Occupied P&I home loan (0.15%)

Bank of Queensland logo

Citi

Rate cut: 0.25%

Effective date: 25 June 2019

Applies to: All home loan rates

Citi logo

Commonwealth Bank

Rate cut: 0.25%

Effective date: 25 June 2019

Applies to: All home loan rates

Commonwealth Bank logo

Heritage Bank

Rate cut: 0.20%

Effective date: 21 June 2019

Applies to: All home loan rates

Heritage Bank logo

ING

Rate cut: 0.25%

Effective date: 25 June 2019

Applies to: All home loan rates

ING logo

Macquarie Bank

Rate cut: 0.25%

Effective date: 21 June 2019

Applies to: All home loan rates

Macquarie Bank logo

ME Bank

Rate cut: 0.25%

Effective date: 27 June 2019

Applies to: All home loan rates for new customers

ME Bank logo

NAB

Rate cut: 0.25%

Effective date: 14 June 2019

Applies to: All home loan rates

NAB logo

Pepper Money

Rate cut: 0.25%

Effective date: 24 June 2019

Applies to: All home loan rates

Pepper logo

Qudos Bank

Rate cut: 0.25%

Effective date: 25 June 2019

Applies to: All home loan rates for existing customers

Qudos Bank logo

St. George Bank

Rate cut: 0.35%, 0.20%

Effective date: 18 June 2019

Applies to:

  • IO Investment home loan rates (0.35%)

  • All other home loan rates (0.20%)

St George logo

Suncorp

Rate cut: 0.20%

Effective date: 21 June 2019

Applies to: All home loan rates

Suncorp Bank logo

Westpac

Rate cut: 0.35%, 0.20%

Effective date: 18 June 2019

Applies to:

  • IO Investment home loan rates (0.35%)

  • All other home loan rates (0.20%)

Westpac logo

** 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.

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