No cash rate cut, no problem! These lenders have cut their rates anyway
Some lenders started cutting their cash rate ahead of the RBA decision.
For about 2 weeks of October we all thought we might be getting a cash rate cut for November. Then, the inflation figures came out.
With prices tracking higher than they should be, it dashed any hopes that the RBA would cut the rate.
But there is good news. Despite the national rate staying on hold at 3.6%, some lenders have cut their rates anyway.
Not necessarily the 0.25% cut everyone was hoping for, but every little helps. Not only could you benefit from lower repayments with a lower rate, but you'll be on the front foot if rates drop again in 2026.
Which lenders have cut their interest rates?
Below, we've pulled together a list of lenders which have cut their owner occupier, variable, P&I interest rates.
Several variable investor interest rates have been cut too, including products from Virgin Money, Qantas Money, Bendigo Bank, Heritage Bank, G&C Mutual and Unloan.
Fixed rates have also been cut from lenders like Virgin Money, Community First Bank, Illawarra Credit Union and Horizon Bank.
| Lender | Variable product | New rate | Difference | Effective Date |
|---|---|---|---|---|
| Qantas Money | Qantas Money Basic Variable Home Loan - LVR 50% to 60% (Owner Occupier, P&I) | 5.33% | -0.05% | 3 November |
| Qantas Money | Qantas Money Variable Offset Home Loan - LVR 50% to 60% (Owner Occupier, P&I) | 5.33% | -0.05% | 3 November |
| NRMA Home Loans | NRMA Home Loans Variable Basic Home Loan - LVR 50.01% - 60% (Owner Occupier, P&I) | 5.19% | -0.04% | 3 November |
| NRMA Home Loans | NRMA Home Loans Variable Offset Home Loan - LVR 50.01% - 60% (Owner Occupier, P&I) | 5.19% | -0.04% | 3 November |
| Heritage Bank | Heritage Bank Discount Variable Home Loan - LVR ≤ 80% (Owner Occupier, P&I) New Customers Only | 5.24% | -0.10% | 30 October |
| G&C Mutual Bank | G&C Mutual Bank Advantage Home Loan - With Offset (Owner Occupier, P&I) | 5.44% | -0.20% | 28 October |
| G&C Mutual Bank | G&C Mutual Bank Advantage Home Loan - Without Offset (Owner Occupier, P&I) | 5.34% | -0.20% | 28 October |
| Unity Bank | Unity Bank Advantage Home Loan - With Offset (Owner Occupier, P&I) | 5.44% | -0.05% | 28 October |
| Unity Bank | Unity Bank Advantage Home Loan - Without Offset (Owner Occupier, P&I) | 5.34% | -0.05% | 28 October |
| Unloan | Unloan Variable Home Loan - (Owner Occupier) | 5.19% | -0.05% | 28 October |
| Unloan | Unloan Variable Home Loan - LVR up to 90% (Owner Occupier) | 5.49% | -0.05% | 28 October |
| Gateway Bank | Gateway Bank Green Home Loans - Plus (Owner Occupier) | 5.10% | -0.15% | 29 October |
| People's Choice Credit Union | People's Choice Credit Union Basic Variable - LVR 70% to 80% (Owner Occupier, P&I) | 5.24% | -0.10% | 30 October |
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