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Greater Bank goes below 3%
Greater Bank has announced it will slash its 1-year fixed home loan for owner-occupiers paying principal and interest by 0.50 per cent to 2.99 per cent, making it the first bank to go below 3 per cent ahead of the RBA’s meeting on Tuesday.
Greater Bank is dropping several fixed rates, including its 2-year fixed rate to 3.39 per cent, and both the 4- and 5-year fixed rates to 3.64 per cent, which will be the lowest available rates on RateCity for all three loan terms.
The rate cuts take effect on Monday 3 June.
Bank of Queensland will also cut its 2-year year fixed rate to 3.44 per cent, and 3-year fixed home loan rate to 3.39 per cent for owner-occupiers, effective tomorrow.
Today’s updates from Greater Bank and Bank of Queensland follows ING’s and NAB’s announcements made in the past 24 hours, as fixed rate cuts continue to flow in thick and fast.
New lowest home loan rates
1-year fixed
| Lender | Rate |
|---|---|
| Greater Bank | 2.99% |
| Tic Toc | 3.39% |
| Macquarie Bank | 3.59% |
2-year fixed
| Lender | Rate |
|---|---|
| Greater Bank | 3.39% |
| BoQ | 3.44% |
| NAB | 3.49% |
3-year fixed
| Lender | Rate |
|---|---|
| BoQ | 3.39% |
| Loans.com.au | 3.48% |
| Suncorp | 3.49% |
4-year fixed
| Lender | Rate |
|---|---|
| Greater Bank | 3.64% |
| Macquarie Bank | 3.79% |
| Teachers Mutual Bank | 3.99% |
5-year fixed
| Lender | Rate |
|---|---|
| Greater Bank | 3.64% |
| Macquarie Bank | 3.79% |
| UBank | 3.94% |
Variable
| Lender | Rate |
|---|---|
| Mortgage House (RBA special) | 3.29% |
| Reduce Home Loans | 3.44% |
| TicToc | 3.47% |
| loans.com.au | 3.48% |
Note: some rates are effective Friday 31st May and Monday, 3rd June.
Disclaimer
This article is over two years old, last updated on May 30, 2019. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.
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