RBA Cash Rate

Your destination for RBA news, expert forecasts and more

hold

1.50%

Cash rate held

at 1.50% on Tuesday 3 October 2017

The Reserve Bank of Australia (RBA) sets the official cash rate target on the first Tuesday of every month except January. Below are expert forecasts from the finder.com.au Reserve Bank Survey™ of some of Australia's brightest minds in economics and property. You can also learn more about the RBA and how its decisions influence the interest rates banks charge, and learn about the best strategies for home owners and investors when there's a rate cut, hold or rise decision.

100% of the experts in our survey predict that the next cash rate move will be to hold. Enter our poll and let us know what you think will happen next month.

100%of our resident rate experts

correctly forecast the rate to hold at 1.50% on Tuesday 3 October 2017 View forecasts →

Next meeting: 2:30pm 7th November 2017


By signing up, you agree to the finder.com.au privacy policy.

Our resident rate experts

+ Open all commentary

Find out what each of our experts predicts for next month and their detailed forecast explanations

Jordan Eliseo
September

No change

October

No change

The RBA has made it clear that it is in no rush to move on rates. They would be fairly pleased with what they are seeing take place in the economy, though a stubbornly high AUD, the persistent lack of wage growth, and elevated levels of household debt remain major concerns.

September

No change

October

No change

Strong business conditions and jobs growth along with the RBA's own forecasts for a rise in growth and inflation point to an eventual rise in interest rates but slowing housing construction, risks around consumer spending including record low wages growth, low inflation and a too high Australian dollar indicate that its too early to start raising rates now. So the RBA is likely to leave rates on hold for the 14th month in a row.


AlisonBoothANU
September

No change

October

No change

The fundamentals of the Australian economy do not currently warrant any change.

September

N/A

October

No change

The economy is tracking along quite well at the moment, so there is no real need for the Reserve Bank to adjust their current stance on monetary policy. It is clear the Board believe that the current plan of attack is consistent with achieving the inflation target over time.


Alex Joiner
September

No change

October

No change

No reason to hike on economic grounds

Christine Williams
September

No change

October

No change

From last month to this month our GDP has not moved. Unemployment has leveled out in most states. With some states noting a slight reduction in unemployment


September

No change

October

No change

The outlook for economic growth and inflation has improved in recent months, but not by enough to prompt the RBA to raise interest rates. In fact, I believe that rate hikes are a story for 2019 and not 2017 or 2018.

September

No change

October

No change

Although the RBA may want to cut to take pressure off the A$, which is too high, and also because inflation and wages growth is low, it is still concerned that a rate cut would stoke housing markets, which are already overpriced due to poor policies regarding negative gearing and capital gains taxes.

September

No change

October

No change

Longer-term stable view by RBA reinforced by better jobs data, improved federal budget position and fading Sydney house price growth. Stagnant incomes growth, subdued inflation and over-inflated currency remain the jokers in the pack. Not out of the woods yet

September

N/A

October

No change

The RBA has clearly signalled that the next move will be up.

September

No change

October

No change

Nothing substantial has changed from the previous month.

September

No change

October

No change

Growth and inflation outlook are still too soft for the RBA to consider hiking rates. Persistent house-market pressure preclude rate cuts.

September

No change

October

No change

The economy is too weak to increase rates and the housing market is too sensitive to cuts to decrease them. It is likely the next move is up but it is unlikely to happen soon.

September

No change

October

No change

The economy is heading in the right direction and there is no need for RBA action at this stage.

September

N/A

October

No change

The balance between growth and inflationary pressures does not require intervention at this point.

Brian Parker
September

No change

October

No change

Nothing happened in the last month to force them to change policy.


Leanne Pilkington
September

No change

October

No change

The situation from month to month remains relatively unchanged. The RBA may be optimistic about the outlook for household income and expenditure, but there are other factors with the potential to temper this optimism. In any event, we see the steady rate environment holding for the remainder of the year and into Q1 2018.

PeterGilmore
September

N/A

October

No change

Whilst Sydney and Melbourne property prices show some moderation, other key fundamentals for full recovery are still fragile, so the RBA will hold again.

John Hewson
September

No change

October

No change

Insufficient evidence to change - mounting risks and constraints.

Peter Haller
September

No change

October

No change

The recent flow of economic data does not warrant any change to current interest rate settings.

Nicholas gruen
September

No change

October

No change

They're waiting for a reason to hike the rate but don't yet have it.

Clement Allan Tisdell

Clement Allan Tisdell

+ Read Clement's full forecast

September

No change

October

No change

Bank statements.

MIchaelYardneyHeadshot100px
September

No change

October

No change

Australia's economy is still operating below its potential with economic growth not strong enough to justify an interest rate increase. The positive improvements of falling unemployment and rises in full-time employment are offset by slow growth in household income.


September

No change

October

No change

Despite signs of a strengthening economy the global rates outlook is still some way from normalising, and the RBA will sit for a while longer before raising.

September

No change

October

No change

RBA has made it clear it has no appetite for lowering rates any further; but conversely nor is it in any hurry to start raising them. RBA will have drawn some comfort from data releases since the last meeting, but will see them as supporting its current set of forecasts rather than warranting upward revisions to them.

September

No change

October

No change

The economy is only inching its way closer to where the central banks desires.

September

No change

October

No change

I don't think they're ready to move just yet. The Aussie dollar is down a little.

Garry Shilson Josling

May

N/A

June

N/A

The economy is doing enough to allow the RBA to stay on the fence, and there are hints that inflation is bottoming out.

Alan Oster

August

No change

September

No change

Still too early to change. Economy and labour market doing well but house prices still strong - especially Sydney / Melbourne.

Darryl Gobbett

Darryl Gobbett

August

No change

September

No change

Continued concerns at strength of Australian economic recovery and weak wages and inflation outlook in conjunction with financial system issues of increasing household debt.

Chris Schade

August

No change

September

No change

Interest rate settings remain appropriate. Economy is performing a little below trend, inflation remains well contained, and the Aussie dollar is higher than the RBA would like. Holding rates at their current highly accommodative level is appropriate to allow the economy to continue to gain momentum over the coming couple of years.

Mark Brimble

August

No change

September

No change

The economy remains fragile and in need of some support, however other concerns will keep the RBA on the bench for some time in relation to cash rates.

Bill Evans

August

No change

September

No change

N/A

Mathew Tiller LJ Hooker

Mathew Tiller

August

No change

September

No change

Little discernible change to economic indicators over the past month. Price growth across most east coast property market has moderated and listing number have begun to rise in the run up to spring.

Holden_Richard 1

Richard Holden

August

N/A

September

No change

Their multiple objectives (inflation, housing prices, AUD, wages growth, gdp) are moving in conflicting directions.

CraigJamesCommSec

Craig James

August

N/A

September

No change

Interest rates are at a level that will gradually see inflation rise to within the 2-3% target zone.

Peter Munckton

August

No change

September

No change

Interest rates are at the correct level.

Janu Chan

July

No change

August

No change

RBA will still have concerns about spare capacity and low inflation. However, risks of another rate cut have clearly dissipated.

Savanth Sebastian

July

No change

August

No change

Inflation remains well contained. RBA would be concerned about the lift in the Aussie dollar. Focus will be on how economy tracks over the next few months.

Scott Morgan

July

N/A

August

No change

No indication of likely move from recent commentary.

Nicki Hutley

July

N/A

August

No change

Current settings are appropriate for employment and inflation settings.

September

N/A

October

No change

The RBA has clearly signalled that the next move will be up.

Paul Bloxham

July

No change

August

No change

Inflation is still below the target band, so no immediate move in sight.

June

N/A

July

No change

Continuation of excess capacity in the labour market, and the maintenance of inflation below RBA target band.

Richardrobinson
June

No change

July

No change

I don't think the interest rates will fall further because: the Reserve Bank is keen to limit the amplitude of the residential cycle amid concerns about household debt and financial stability risks. Hence, it would not want to reignite the housing boom. A lower cash rate will reduce the dollar but it will have little effect on investment. Meanwhile, the Federal Reserve is on a tightening phase and rate rises in the United States will narrow the interest rate differential with Australia and put downward pressure on the A$. The Reserve Bank is also concerned that the more they reduce rates now, the sooner they will have to raise interest rates.I therefore expect the cash rate to stay at 1.5% over calendar year 2017 and 2018.


Glen Hawke
June

N/A

July

No change

The current economic data is inconclusive of a need for a shift.


Stephen Milch
June

No change

July

No change

Labour market strengthening balances against sub target inflation. Little case to ease yet too early to tighten.


ScottHaslem
June

N/A

July

No change

N/A

Melissa Browne

May

N/A

June

N/A

I don't believe there's a case to cut rates at present and certainly no reason to move them upwards.

Warren Hogan

May

N/A

June

N/A

The Reserve Bank has said that they aren't going to be doing anything with the cash rate. They are sitting on their hands. I don't think they will do anything for six months, however things can change.


September

N/A

October

No change

It has signalled it will hold until it sees evidence to make it change its mind.

Scott Pape

May

N/A

June

N/A

The cuts are coming… just not this month.

David Bassanese

May

N/A

June

N/A

Annual underlying inflation has been confirmed as running 0.5% lower than the RBA expected 6 months ago.


Chris Caton

May

N/A

June

N/A

There's another cut out there, and July can't be ruled out, but the RBA would probably prefer to wait for more evidence on inflation.

Paul Ryan Eccho Me

Paul Ryan

May

N/A

June

N/A

I don't see any reason why the Reserve Bank will vary the position they have held over the past 12 months. I think there would be a level of concern about lenders moving rates outside their own decision so it might be best to keep the cash rate as is.

James Bond

May

N/A

June

N/A

The RBA rarely makes one move in isolation, running a campaign of several cuts or rises. This time will be no different. The weak labour force data for January has only added more to the case for a cut.

Jason Spencer

May

N/A

June

N/A

There is no significant weakening in the Australian economy to justify a drop at this time.


Robert Montgomery

Robert Montgomery

May

N/A

June

N/A

The RBA will wait for more movement in underlying economic indicators.


Lynne Jordan

Lynne Jordan

May

No change

June

N/A

Household debt levels, low wage growth, active property investors and a weak inflationary environment still present a major policy challenge for the RBA. I don’t think we’ll know exactly when the RBA’s next move will be until CPI data comes out at the end of April. If Inflation has gone up, we lean closer towards the rate increase many economists have predicted. But if it is the same or lower, the RBA will likely hold the cash rate and remain in the same predicament it has been for the past few months – that investors will continue to make the most of low interest rates and drive up prices, which could result in household debt levels increasing even further.


Matthew Pollock

Matthew Pollock

May

N/A

June

N/A

The Q3 CPI result was low but showed signs of improvement. on top of that commodity prices are on the improve and should give a much need boost to national income growth, and in turn lift price growth.

Lisa Montgomery

May

N/A

June

N/A

There is plenty for the RBA to consider as it approaches this meeting, including a steadily rising Australian Dollar, the May budget and looming Federal election. The decision, however, will be to leave the cash rate on hold.

James McIntyre

James McIntyre

May

N/A

June

N/A

The Reserve Bank Board will have no new, substantive information on the economy compared to their March meeting, where the decision was taken to remain on hold. Concerns about financial stability are likely to keep the Reserve Bank sidelined… However, if the currency remains elevated, or pushes beyond US$0.78, we think there is a substantive risk the Reserve Bank cuts in May.

Paul Clitheroe

May

N/A

June

N/A

It's a curate's egg. The economy is not all bad… Global volatility makes predicting a dangerous sport.


Ken Sayer

April

N/A

May

N/A

The downward pressure on rates has been overshadowed by international influences.


Effie Zahos

May

N/A

June

N/A

The next inflation report isn't due until July 27 so it could be a case of hold steady until August.

Emily Dabbs

May

No change

April

N/A

Inflation pressures are strengthening, full-time employment has improved, and high household debt continues to pose a risk to financial stability.

Peter Boehm

May

N/A

June

N/A

No compelling reason to move rates just yet - I think by the middle of the year we'll have a better line of sight of possible rate movements.

Zoe Pointon

May

N/A

June

N/A

Uncertainty in the equity markets and slowing property price growth.

Linda Janice Phillips

May

N/A

June

N/A

The Reserve Bank must be comfortable with the exchange rate around US$0.71. House price rises in Sydney are slowing, which will be regarded as welcome, but growth is accelerating in Melbourne. While the global outlook is uncertain, it is expected that the Fed will soon start increasing US rates, which will limit the capacity for the Reserve Bank to move on the downside. Some domestic indicators such as unemployment are improving, and the Reserve Bank is reporting a somewhat better outlook. While the markets would like to see rates fall 25bp to offset the mortgage price hikes by the banks last month, on the whole it is likely that the Reserve Bank will be comfortable in waiting until February before making any decision to change rates… The level of volatility in global markets, problems of debt management in developing countries, the threat of expansion of the wars against IS, and uncertainty within the Euro-zone, the latest concern being Portugal, have the potential to upset the base case outlook of a slow but steady improvement in the economy. The risk of "black swan events" is rising, and volatility is likely to remain high.


Angus Raine

April

N/A

May

N/A

N/A

Nathan McMullen

April

N/A

May

N/A

RBA likely to review Q2 inflation data due late July before revisiting changes to the cash rate.

Angelo Malizis

May

N/A

June

N/A

No economic reason to move at this stage.

David Scutt

May

N/A

June

N/A

It still remains a matter of when, not if, the Reserve Bank will ease policy further. Outside of established residential and commercial property, primarily on the east coast, the domestic economy requires further stimulus. It'll be a line-ball decision as to whether or not they ease but history, along with recent auction clearance rates in Sydney, may see them hold off until May. Either way I expect a cut in one of the next two meetings along with a continuation of their easing bias."


September

N/A

October

No change

Economy needs no further rates assistance but low inflation means little pressure to lift rates either.


Gavin Smith

May

N/A

June

N/A

Comments from RBA Governor, Glenn Stevens indicated that the cash rate would remain at current levels for an extended period of time.

Peter Switzer

May

N/A

June

N/A

A rate cut is what they should do but I would not be surprised if they hold. There is a too cautious approach at the Reserve Bank which is holding back growth

George Tharenou

George Tharenou

May

N/A

June

N/A

We believe the RBA has drawn a "line in the sand" at the 1½% y/y pace for underlying inflation, given it is the lower bound of every single point forecast the RBA has out until the end of 2018. If underlying inflation were to drift below this in coming quarters, the RBA would likely feel under some pressure to further lower the cash rate. Absent this, we see the RBA on hold at 1.5% for the foreseeable future.

Neville Norman

Neville Norman

May

N/A

June

N/A

The market is currently a 'catch 22'… There has been a high level of unsatisfied young house buyers at continued absurdly low interest rates.


What do you think the RBA will do with the cash rate in October 2017?

Hold0%
Cut 0%
Raise0%



How the cash rate can impact your finances

See how the cash rate changes can affect your savings, term deposits, home loans and what you can do about it.

If the rate rises

Find an account which offers the same features and fees but with a better rate.

If the rate gets cut

Consider comparing a competitive term deposit rate so your interest earnings don't suffer.

If the rate holds

Carry out a quick comparison to make sure you're getting the best return on your money, see what promotions banks are offering.

If the rate rises

Ask your lender for a rate discount so that if rates do rise you won't be worse off, or alternatively, compare other variable or even fixed rate home loans to find a better deal.

If the rate gets cut

See how your lender responds to the cut. If they don't pass on the full rate cut, ask for a rate discount, and if you're still not happy start comparing what other deals are in the market. Some lenders have been known to pass on more than the official rate cut after an RBA announcement!

If the rate holds

Compare other variable rate home loans to make sure you're still getting the best deal. If rates are tipped to rise in the near future you may also want to compare fixed rates.

If the rate rises

Your rate won't rise as you locked it in, so you can relax a little. If your fixed rate is soon to end, start comparing what deals are being offered so you don't find yourself scrambling to lock in another rate.

If the rate gets cut

If you feel your home loan is no longer competitive, you might want to obtain a quote from your lender to find out possible exit costs. If this figure is reasonable, you might want to consider comparing variable home loans. Use our switching costs calculator to see if you'd save.

If the rate holds

Because your rate is fixed for an agreed period of time, a decision by the RBA to hold won't have as much of an effect on you depending on how long you still have to go in your fixed term. As mentioned above, you might still want to monitor the other deals in the market to keep informed.

If the rate rises

If rates rise, savings accounts rates could be increased as well. If this happens, you might want to compare the rates of high interest savings accounts. Remember that most term deposits have interest penalties if you withdraw your funds early, so keep this in mind.

If the rate gets cut

Your rate won't change because it's locked in, but if you're nearing the end of your term start comparing both high interest savings accounts and term deposits to find a good deal.

If the rate holds

Compare accounts and ensure you're aware of what's being offered in the market.

History of the Reserve Bank of Australia official Cash Rate

The graph above shows the movement in the official cash rate target. A lower cash rate reduces the cost of borrowing money so more people are encouraged to borrow - stimulating the economy. Higher interest rates tend to encourage spending. This is how a rise or fall in rates affects the level of supply and demand and therefore the level of inflation - which the RBA wants to keep in the target range of 2%-3%.

What is the Reserve Bank of Australia and what is the cash rate target?

The Reserve Bank of Australia (RBA) is the government body that implements monetary policy by setting the Australian cash rate, announced on the first Tuesday of the month. Although the Reserve Bank is government-funded, it is independent of party politics, and has free rein to make its rates decisions without any political influence. The official cash rate is watched by many people, but none more closely than the nation's top economists.

When the RBA decides the appropriate cash rate, its primary aim is to keep inflation to a stable level of 2-3%. When inflation is moderated in this way, it keeps the value of the Australian dollar stable and supports long-term growth in the economy, with a view to keeping a high employment rate. The RBA announcement of the cash rate each month is watched closely by the media and home-owners because it is one of the key factors that determine the interest rates set by banks for their home loans. While banks' lending rates have historically risen and fallen in line with changes in the RBA's cash rate announcement, in recent years the banks have been criticised for not following the RBA's lead closely.

The interest charged by banks can have a huge impact on the bottom line of a household budget because of the size of their mortgage repayments, so it's useful to understand how the banks decide on the rate that they set.

The interest payment charged by the bank is made up of the cash rate, a risk premium for individual borrowers and a profit margin. In addition to this, there has been an extra factor charged since the global financial crisis because of the reduction in readily accessible cash. The classic supply-demand conundrum has driven up the cost of global inter-bank lending – meaning there is less supply of cash so it has become more expensive – so banks are passing on this cost to consumers by charging higher interest rates.
It's important for home owners to keep an eye on their lender and know they have the power to vote with their feet: if they're not happy with the rates their banks set each month after the RBA cash rate announcement, they should do their research and consider shifting to a new lender.


What drives interest rates?

  • - Supply and demand: an increase in the demand for credit will place an upward pressure on interest rates, and vice versa
  • - Inflation: higher inflation means interest rates will probably rise
  • - Government/Monetary policy: when the government buys or sells securities. If the government bought more securities, banks have access to more money than they can use to lend and therefore the interest rate will decrease

Compare home loans today

Whatever the RBA decides each month, it's always a good idea to ensure your home loan stacks up well against what else is being offered in the marketplace. You can compare current home loan deals below.

Rates last updated October 18th, 2017
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.64%
3.66%
$0
$0 p.a.
80%
A basic home loan with a competitive rate and low fees.
3.65%
3.66%
$0
$0 p.a.
90%
Enjoy a low variable rate with no ongoing fees and borrow up to 90% of the value of the property.
3.49%
4.47%
$0
$375 p.a.
90%
Discount off an already competitive interest rate for loans over $150k. NSW, QLD and ACT residents only.
3.58%
3.59%
$0
$0 p.a.
80%
A competitive variable rate product with low fees offered by a 100% online lender.
3.54%
3.56%
$0
$0 p.a.
80%
For new home buyers only. No refinance option. A low interest variable home loan with no application fee and free redraws.
3.64%
3.66%
$0
$0 p.a.
80%
A home loan with a competitive variable rate, limited fees and plenty of flexibility.
3.69%
3.72%
$0
$0 p.a.
80%
A low rate home loan with no ongoing fees.
3.65%
4.84%
$0
$395 p.a.
90%
A 2 years fixed platinum package that has $0 application and a loan redraw facility.
3.69%
4.86%
$0
$395 p.a.
90%
A special rate for first home buyers buying residential property and borrowing over $150K. 350K NAB Rewards Points offer available. Terms and conditions apply.
3.74%
3.74%
$0
$0 p.a.
80%
A basic owner-occupier home loan with a low variable rate that requires a 20% deposit.
3.69%
4.15%
$395
$0 p.a.
80%
A one year fixed rate offer with no ongoing bank fees.
3.74%
3.75%
$0
$0 p.a.
80%
A special variable rate home loan with no application or ongoing fees.
3.68%
3.83%
$0
$10 monthly ($120 p.a.)
80%
A low interest rate home loan that allows borrowers to borrow up to 80% of the property value.
3.79%
3.92%
$0
$10 monthly ($120 p.a.)
80%
A competitive variable rate home loan with flexible features. You can earn 30,000 Velocity Points for every $100k you borrow (for a limited time, subject to eligibility requirements).
3.72%
3.74%
$0
$0 p.a.
80%
Take advantage of a 100% offset account along with no annual or application fees.
3.94%
4.88%
$0
$0 p.a.
95%
Enjoy a low interest rate and borrow up to 95% (with LMI) of your property's value.
3.72%
3.75%
$600
$0 p.a.
80%
A maximum 80% LVR home loan with no ongoing service fees and a linked transaction account.
3.73%
3.73%
$0
$0 p.a.
90%
A special limited time offer for owner occupiers. An IMB Transaction Account must be opened with this loan.
3.74%
3.74%
$0
$0 p.a.
80%
Combine a low variable interest rate and free redraw with no application or ongoing fees.
3.77%
3.81%
$200
$0 p.a.
95%
A basic home loan with a low interest rate and a redraw facility available.
3.74%
4.15%
$0
$395 p.a.
80%
Enjoy a discount of a competitive interest rate and 100% offset account.
3.85%
4.97%
$300
$10 p.a.
95%
3.69%
3.75%
$600
$0 p.a.
80%
A low interest rate variable home loan with no ongoing fees.
3.69%
4.08%
$0
$395 p.a.
90%
A high maximum LVR home loan with redraw facility and additional payments.
3.79%
4.00%
$0
$10 monthly ($120 p.a.)
90%
Get a competitive interest rate for 3 years and a discounted variable rate when the fixed period ends.
3.81%
3.81%
$0
$0 p.a.
80%
A home loan with a competitive rate and plenty of handy features.
3.74%
3.74%
$0
$0 p.a.
90%
A competitive variable rate with a redraw facility. NSW, QLD and ACT residents only.
3.83%
3.83%
$0
$0 p.a.
70%
A special low variable rate for owner occupiers with 100% offset account and no application or ongoing fees.
3.84%
3.84%
$0
$0 p.a.
110%
Requires a family member to act as guarantor. Discounted rate available with family pledge loans. Family pledge loans require no LMI and no deposit. NSW, Qld and ACT only.
3.85%
4.10%
$500
$0 p.a.
95%
Apply for Easy Street fixed rate home loans and get a competitive loan with a fixed interest rate.
3.86%
3.87%
$0
$0 p.a.
80%
Pay no ongoing fees on a competitive variable rate home loan.
3.88%
4.89%
$0
$395 p.a.
95%
A fixed rate package with flexible repayment options. 350K NAB Rewards Points offer available. Terms and conditions apply.
3.96%
3.98%
$0
$0 p.a.
90%
Take advantage of a redraw facility, competitive variable rate and no application or settlement fees for a limited time.
3.97%
4.02%
$445
$0 p.a.
90%
Get a competitive rate without features you may not use.
3.99%
4.02%
$395
$0 p.a.
80%
A flexible low-rate variable home loan that lets you combine your loan with other financial products.
4.09%
4.11%
$0
$0 p.a.
80%
A low variable rate loan with no application or ongoing fees.
3.97%
3.99%
$0
$0 p.a.
90%
A discounted interest rate home loan with no monthly fees.
3.97%
3.97%
$0
$0 p.a.
80%
A competitive variable rate home loan with no ongoing fees.
3.79%
3.80%
$0
$0 p.a.
80%
A competitive rate with no ongoing monthly fees or application fees.
3.72%
4.19%
$0
$0 p.a.
80%
Enjoy a variable 3 year introductory rate with the Bankwest Equaliser Home Loan.
3.84%
4.83%
$0
$0 p.a.
95%
Get a competitive 2-year fixed rate with no application or ongoing fees.
3.69%
4.00%
$0
$350 p.a.
95%
Fix your rate for 3 years and borrow up to 95% LVR.
3.64%
3.64%
$0
$0 p.a.
70%
A basic low-rate home loan that still offers some useful features.
3.69%
4.45%
$0
$375 p.a.
90%
Discount off an already competitive 2 year fixed rate for loans over $150k. NSW,QLD and ACT residents only.
4.09%
4.25%
$300
$10 monthly ($120 p.a.)
80%
Get a competitive investment home loan rate without expensive features you may not need.
3.99%
4.77%
$0
$0 p.a.
95%
A competitive 3 year fixed rate with a redraw facility and split loan options, plus no application fee.
3.99%
4.02%
$600
$0 p.a.
90%
Take advantage of a 0.60% discount on your rate, a 100% offset account and no ongoing fees.
3.88%
4.88%
$0
$395 p.a.
95%
Lock in a discounted fixed rate with a low service fee.
4.33%
4.33%
$363
$0 p.a.
70%
A variable home loan with $0 annual or monthly fees.
4.03%
4.07%
$0
$0 p.a.
95%
Enjoy a basic home loan with a high LVR and no application or ongoing fees.
3.85%
4.95%
$0
$395 p.a.
95%
A discounted package rate for owner occupiers with the ability to package a Qantas rewards earning Amplify credit card. $1,500 cashback available for refinancers. Conditions apply.
3.99%
4.99%
$0
$395 p.a.
95%
A package home loan with fee free extra repayments available during the fixed term.
4.39%
5.42%
$300
$10 monthly ($120 p.a.)
95%
Borrow up to and fix in a 3 year home loan rate. Access your account via internet and phone banking.
3.69%
4.03%
$0
$299 p.a.
80%
Enjoy a low variable rate with no application fee.
3.88%
4.47%
$0
$0 p.a.
95%
This competitive introductory rate is a limited time offer for new owner-occupiers
3.68%
3.69%
$600
$0 p.a.
90%
Get a low variable rate along with some important basic features.
3.80%
3.81%
$0
$0 p.a.
95%
A no frills loan with a competitive rate and a maximum LVR of 95%.

Have we missed anything in the comparison table? Tell us

Compare up to 4 providers

Compare savings account interest rates today

It's also a good idea to regularly compare savings accounts to ensure you're still getting a competitive interest rates. Interest rates for high interest savings accounts also increase if the cash rate increases, therefore getting a higher return on your investment.

Rates last updated October 18th, 2017
$
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Monthly Account Fee
Bankwest Hero Saver
Ongoing, variable 2.60% p.a. rate when you deposit at least $200 each month and make no withdrawals. Available on balances up to $250,000.
2.60% 0.01% 2.59% $0 $0 / $0 Go to site More
HSBC Serious Saver
Introductory rate of 3.00% p.a. for 4 months, reverting to a rate of 1.60% p.a. Available on balances below $1,000,000.
3.00% 1.60% 1.40% $0 $0 / $0 Go to site More
ANZ Progress Saver
Ongoing, variable 1.81% p.a. when you deposit $10+ each month and make no withdrawals. Available on the entire balance.
1.81% 0.01% 1.80% $0 $10 / $10 Go to site More
Westpac Reward Saver
Ongoing, variable 1.50% p.a. when you deposit at least $50 and make no withdrawals each month. Available on the entire balance.
1.50% 0.01% 1.49% $0 $0 / $0 Go to site More
St.George Maxi Saver
Introductory rate of 2.80% p.a. for 3 months, reverting to a rate of 1.00% p.a. Available on the entire balance.
2.80% 1.00% 1.80% $0 $1 / $1 Go to site More
Bank of Melbourne Incentive Saver
Ongoing, variable 1.75% p.a. when you make at least one deposit and no withdrawals each month. Available on the entire balance.
1.75% 0.01% 1.74% $0 $1 / $1 Go to site More
Westpac eSaver
Introductory rate of 2.51% p.a. for 5 months, reverting to a rate of 1.00% p.a. Available on the entire balance.
2.51% 1.00% 1.51% $0 $0 / $0 Go to site More
BankSA Incentive Saver Account
Ongoing, variable 1.75% p.a. when you make at least one deposit each month and no withdrawals. Available on the entire balance.
1.75% 0.01% 1.74% $0 $0 / $0 Go to site More
ANZ Online Saver
Introductory rate of 2.55% p.a. for 3 months, reverting to 1.00% p.a. Available on the entire balance.
2.55% 1.00% 1.55% $0 $0 / $0 Go to site More
BankSA Maxi Saver
Introductory rate of 2.80% p.a. for 3 months, reverting to a rate of 1.00% p.a. Available on the entire balance.
2.80% 1.00% 1.80% $0 $1 / $1 Go to site More
Bank of Melbourne Maxi Saver
Introductory rate of 2.80% p.a. for 3 months, reverting to 1.00% p.a. Available on the entire balance.
2.80% 1.00% 1.80% $0 $0 / $0 Go to site More
HSBC Flexi Saver Account
Ongoing, variable 2.50% p.a. when you deposit $300+ each month (other conditions apply). Available on balances up to $5,000,000.
2.50% 1.25% 1.25% $0 $0 / $0 Go to site More
Bank Australia Bonus Saver Account
Ongoing, variable 2.60% p.a. when you deposit at least $100 and make no withdrawals. Available on the entire balance.
2.60% 0.15% 2.45% $0 $0 / $1 Go to site More
Bank Australia mySaver Account
Ongoing, variable 2.60% p.a. when you deposit $10+ each month and make no withdrawals. Available on balances $10+ and to customers under the age of 25.
2.60% 0.15% 2.45% $0 $0 / $10 Go to site More
Bank Australia Online Saver Account
Ongoing, variable rate up to 1.65% p.a. when you link to a Bank Australia Everyday Access or Pension Access or a mortgage offset account. Available on balances more than $5,000.
1.65% 1.65% 0.00% $0 $150,000 / $5,000 Go to site More
Westpac Life
Earn up to 2.30% p.a. interest. No monthly account-keeping fee. Set savings goals and track your progress.
2.30% 1.50% 0.80% $0 $0 / $0 Go to site More

While the interest rate on variable personal loans can change with the cash rate, they generally don't. Fixed interest rate personal loans won't be affected by the cash rate because interest is fixed for the loan term. If you're looking to get a competitive rate on your personal loan, compare low interest rate personal loans in our guide.

Disclaimer: The comments, forecasts, projections and other predictive statements by the panel of experts are assumptions based on currently available information. These forecasts are based on industry trends and economic factors that involve risks, variables and uncertainties. No guarantee is presented or implied as to the accuracy of these forecasts and consumers are advised to read product disclosure statements and understand if financial products are right for them before signing up.

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

40 Responses

  1. Default Gravatar
    RobJune 11, 2017

    What do you think will be the next move for RBA on cash rate and when?

    Thank you!

    • Staff
      JonathanJune 11, 2017Staff

      Hi Rob!

      Thanks for the comment.

      As of the moment, most of resident rate experts predict that rates will be the same. The cash rate target is released on the first Tuesday of every month except January.

      You can follow the updated forecast right here.

      Hope this helps.

      Cheers,
      Jonathan

    • Default Gravatar
      RobJune 11, 2017

      Thanks Jonathan, I meant in the longer term, 6-12 months.

    • Staff
      JonathanJune 11, 2017Staff

      Hi Rob!

      We appreciate your follow-up.

      Currently, there are multiple factors that need to be considered and due to the volatility of these factors, it is a bit hard to conclude whether they’ll leave the rates unchanged for the next few months or not.

      If you have further inquiries, you may contact:

      Media and Communications
      Secretary’s Department
      Reserve Bank of Australia
      SYDNEY
      Phone: +61 2 9551 9720
      Fax: +61 2 9551 8033
      Email: rbainfo@rba.gov.au

      Hope this helps.

      Cheers,
      Jonathan

  2. Default Gravatar
    JulieSeptember 1, 2016

    When do you think the RBA will start raising rates?

    • Staff
      JodieSeptember 7, 2016Staff

      Hi Julie,

      Thank you for contacting finder.com.au we are a financial comparison website and general information service.

      It is hard to predict the movement of the cash rate as it is based on a multitude of factors that are continually changing however 7 out of the 38 experts we surveyed in our latest RBA survey for September 2016 said they predict it will start going up in July 2017 or beyond.

      Regards
      Jodie

  3. Default Gravatar
    EricFebruary 25, 2016

    Hi Belinda

    Appreciate if you would also send me informations regarding findings of monthly RBA survey.

    Regards
    Eric

    • Staff
      BelindaFebruary 26, 2016Staff

      Hi Eric,

      Thanks for getting in touch.

      On this page, you can view the RBA Cash Rate Target Announcements for each month from February 2015 until February 2016. You can also view the commentary of our resident rate experts in the lead up to each Board meeting which occurs on the first Tuesday of every month (except January).

      Please feel free to sign up to receive our detailed RBA cash rate updates by completing the form provided above.

      Regards,
      Belinda

  4. Default Gravatar
    SyedDecember 8, 2015

    Hi,
    My new house is ready now and wondering what is the best time to sell, should I put my house in the market now or January or wait for the February. I am not committed any where so I can wait.

    Your advise needed.

    Thanks

    • Staff
      BelindaDecember 9, 2015Staff

      Hi Syed,

      Thanks for your enquiry.

      As finder.com.au is an online comparison service so we are not licensed to give you personal advice regarding the best time to sell your property.

      You can read our guide here about considerations when selling your house.

      All the best,
      Belinda

  5. Default Gravatar
    loooooolAugust 16, 2015

    hello.
    i wonder if i could receive some information regarding not only the latest current economic situation, but also cash rate movements over the year.

    • Staff
      BelindaAugust 17, 2015Staff

      Hi Dongho,

      Thanks for your enquiry.

      Above on this page you can view the ‘Reserve Bank monthly announcements’ to read about the cash rate movements and monetary policy decisions that have occurred over the course of this year. You can also sign up to receive our RBA cash rate updates by filling in the form provided above.

      In regards to the current economic situation, finder.com.au is an online comparative website and we can’t comment on the activity of the broader Australian economy.

      Thanks,
      Belinda

  6. Default Gravatar
    OliJuly 17, 2015

    Can you please send through the information on the RBA via email?
    I’m doing a school Economic assignment on the RBA and financial markets

    • Staff
      BelindaJuly 17, 2015Staff

      Hi Oli,

      Thanks for your enquiry.

      I’ve emailed you with some information regarding the findings from our monthly RBA survey.

      Please note that on this page you can sign up to receive our RBA cash rate updates.

      Thanks,
      Belinda

  7. Default Gravatar
    yazminJuly 7, 2015

    Hi,

    I was just wondering if I could have information regarding how interests rates will unfold over the next year. In particular, if the current interest rates will be appropriate for the economic conditions in Australia.

    Thank you
    Yazmin

    • Staff
      BelindaJuly 8, 2015Staff

      Hi Yazmin,

      Thanks for your enquiry.

      Firstly, I’d like to point out that finder.com.au is an online comparison and general information service so we’re not in a position to forecast interest rates.

      However, on this page you can sign up to receive our RBA cash rate updates which you might find useful.

      Thanks,
      Belinda

  8. Default Gravatar
    JeffJune 22, 2015

    I also would like to know what the RBA is likely to do with interest rates over the next 12 months or at least material to allow me to make my own assessment please.

    thank you

    Jeff S

    • Staff
      JodieJune 22, 2015Staff

      Hi Jeff,

      I have emailed you the information we sent to others people who have asked us regarding the RBA.

      Regards
      Jodie

  9. Default Gravatar
    TJJune 17, 2015

    Hi,

    I also would like to know what the RBA is likely to do with interest rates over the next 12 months

    Regards

    • Staff
      JodieJune 17, 2015Staff

      Hi TJ,

      Thank you for making contact with finder.com.au, an online comparison website.

      I have sent through to you via email the same information regarding the RBA predictions that was sent to Patrick by mu colleague Belinda, I hope this helps.

      Regards
      Jodie

  10. Default Gravatar
    HiJune 12, 2015

    What is the RBA likely to do with interest rates within; 3 months, 6 months, 12 months, and 18 months timeframes.

    Refer to movement in interest rates (up, down or no change) and provide reasons.

    • Staff
      BelindaJune 15, 2015Staff

      Hi Patrick,

      Thanks for your enquiry.

      I’ve sent you an email with some information and findings from our monthly Reserve Bank Survey.

      Kind regards,
      Belinda

    • Default Gravatar
      HiJune 15, 2015

      Hi Belinda,
      Thanks for your assistance! I found it quite useful.

Ask a question