As you may be aware, the RBA has announced a highly anticipated Cash rate drop. The current rate has been slashed by 0.25% and it may have an impact on your home loan repayments.
Interest rate is calculated using the daily balance and although most banks have announced they will partake in the rate cut, it may take some time to reflect on your loan accounts.
Please allow time for our lenders to communicate with you and implement this rate change.
Below, we have displayed the respective lenders and their rate cuts from the effective date.
| Lender | Rate reduction on variable rates | Reduction on Fixed Rate | Announcement Date | Effective Date | More information |
| ANZ | 0.25% | 19-Feb-25 | 28-Feb-25 | Link | |
| CBA | 0.25% | 18-Feb-25 | 28-Feb-25 | Link | |
| St. George | 0.25% | 19-Feb-25 | 4-Mar-25 | Link | |
| Westpac | 0.25% | 18-Feb-25 | 4-Mar-25 | Link | |
| Bankwest | 0.25% | 19-Feb-25 | 28-Feb-25 | Link | |
| NAB | 0.25% | 19-Feb-25 | 28-Feb-25 | Link | |
| ING | 0.25% | 19-Feb-25 | 4-Mar-25 | Link | |
| Macquarie | 0.25% | 18-Feb-25 | 28-Feb-25 | Link | |
| AMP | 0.25% | 19-Feb-25 | 3-Mar-25 | Link | |
| LaTrobe | Not Announced as of now | ||||
| Judo Bank | Not Announced as of now | ||||
| Firstmac | 0.25% | 0.45% (Only for new business) | 20-Feb-25 | 4-Mar-25 | |
| MyState Bank | 0.25% | 19-Feb-25 | 4-Mar-25 | ||
| UBank | 0.25% | 18-Feb-25 | 27-Feb-25 | ||
| Resimac | 0.25% | 18-Feb-25 | 5-Mar-25 | Link | |
| Pepper Money | 0.25% | 18-Feb-25 | 5-Mar-25 |
With these changes, borrowers with variable-rate home loans can expect a slight reduction in their repayments starting from the respective effective dates.
If you have any questions or need further clarification, please feel free to call (02) 9836 4140
