Comparing online may give you a better opportunity to snag a lower interest rate.
Comparing interest rates from the banks is free and easy with finder.com.au. You can sort financial products by the lowest interest rate by simply clicking the arrow on the interest rate column. You can also apply online for these financial products including for every personal and financial situation.
Compare bank interest rates for a range of products
Compare home loans
Rates last updated August 16th, 2018.
- Tic:Toc Live in Fixed Rate Home Loan - 1 Year (Owner Occupier, P&I)
Interest rate is now 3.64%
July 26th, 2018
- Tic:Toc Investor Interest Only Variable Rate Home Loan
Interest rate increased by 0.12%
July 26th, 2018
- Tic:Toc Invest Fixed Rate Loan - 1 Year Fixed (Principal & Interest)
Interest rate decreased by 0.27%
July 26th, 2018
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How to compare home loan interest rates
A feature of finder.com.au is that there is a graph on the bottom of each product page showing how closely the variable interest rate movements have followed movements in the RBA cash rate. Also, each home loan product will display a graph indicating how many loan products have higher and lower interest rates.
One advantage of comparing online rather than comparing mortgages using a mortgage broker is that online comparison websites tend to have a range of online home loans with lower interest rates than can be offered by mortgage brokers.
The reason interest rates for online home loans are so low is that they don’t pay the high costs of branch networks nor do they pay expensive mortgage broker commissions, says Heidi Armstrong, Director of Operations at State Custodians.
How do interest rates impact me?
Interest rates determine how much your repayments are for whatever debt you’ve incurred. For example, if your home loan interest rate goes down, your regular repayments will drop as well. And if your lender doesn’t have as low an interest rate as you’d like, you can refinance to save money on those regular repayments.
To calculate the impact of different types of loans on your monthly repayments, you may to use our range of calculators.
Gain insights on the RBA cash rate
We poll the nation’s top economists each month on where they think the RBA cash rate is heading next and also take their temperature on our economy and housing market. If you can’t make sense of how the financial markets and economy reports on the nightly news affect your home loan, our economists tell it to you straight about the impacts that really matter without the confusing jargon and ever-moving indexes.
We also track the standard variable interest rates from a range of lenders to give you an indication of whether they have been passing on the spell of recent Reserve Bank of Australia cash rate cuts. You can see for yourself which banks are loyal to their customers by passing on interest rate savings, rather than just offering discounts for new customers.
What lenders are compared?
We compare hundreds of home loans from the major banks, to mutual banks, credit unions and building societies to online home loan providers. If you like choice and getting the best deal, it is well worth comparing home loans on finder.com.au.