Aussie reduces two and three-year fixed rates below 5% with new variable offering in the mix

Larry SchlesingerDecember 7, 2020

Aussie Home Loans has announced deep cuts to its Aussie-branded fixed-rate home loans as well as a 5.15% variable rate offering for new customers in the wake of the RBA cutting the cash rate to 2.75%.

The John Symond-fronted brand has dropped its two-year fixed-rate by 0.40%  to 4.89% p.a and its three-year fixed-rate by 0.30% to 4.99% p.a,  effective today.

The new variable offering will take effect from May 15 - it required a minimum 20% deposit and a loan size bigger than $500,000.

“Competition between lenders for a slice of the home loan pie is getting hotter and rates are certainly far more competitive than they have been for some time. Aussie is throwing down the gauntlet to the major lenders, and I’m confident consumers will find there is nothing lower than our two and three year fixed rates on the market,” says Aussie founder and chairman, John Symond.

“It is a good time to consider fixing your loan if you are someone who wants certainty on repayment amounts month to month, but equally there are some great deals to be found on variable rates too, so there’s definitely a great choice and variety out there,” he says.

Aussie passed on the full RBA cut announced last week. 

FIXED RATE COMPARISON TABLE

 

1 Year

2 years

3 years

4 years

5 years

CBA Package

5.19%

4.99%

5.29%

5.64%

5.69%

NAB

5.09%

4.99%

5.29%

5.64%

5.55%

WBC

5.24%

5.29%

5.29%

5.69%

5.69%

ANZ

5.19%

5.29%

5.29%

5.64%

5.84%

SGB

5.15%

4.99%

5.29%

5.64%

5.69%

BOM

5.15%

4.99%

5.29%

5.64%

5.69%

BOQ

4.99%

5.19%

5.29%

5.59%

5.69%

Aussie

4.95%

4.89%

4.99%

5.49%

5.49%

Suncorp

5.30%

5.34%

5.40%

 

5.85%

BankWest

5.39%

4.99%

5.19%

5.64%

5.49%

ING

5.19%

4.99%

5.09%

5.39%

5.39%

RAMS

4.99%

5.25%

5.29%

5.64%

5.69%

Newcastle Permanent

4.98%

4.98%

5.28%

5.64%

5.69%

Bendigo

5.19%

5.29%

5.44%

5.74%

5.79%

AUSSIE SELECT VARIABLE RATES

Effective May 15, 2013

Aussie Select Variable

$350k-

$500k+

LVR

5.20%

 

 

5.20%

 

 

5.15% 

 

LVR >=80.00%

5.29%

 

 

5.29%

 

 

5.20%

 

 

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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