How The Lenders Respond To RBA October Rate Cut

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How The Lenders Respond To RBA October Rate Cut

The Reserve Bank of Australia had cut official cash rates to a new record low of 0.75 percent on 1 October 2019.

The 0.25% cut brings the official cash rate to a new low, following consecutive cuts in June and July this year.

Lenders have started to announce their rate reduction decisions in responding to RBA's rate decision as below:

 

 

 Lender Decrease By  Effective From
 CBA

0.13% for O/O or P&I repayment, 0.25% for Investment and I/O repayment

  22/10/2019
 NAB

0.15% for O/O or P&I repayment, 0.30% for Investment and I/O repayment

  11/10/2019
ANZ

0.14% for O/O or P&I repayment, 0.25% for Investment and I/O repayment

 11/10/2019
Westpac/St George

0.15%

 

16/10/2019

 
PlanLend

0.15%

29/10/2019
BankWest

0.13% for O/O or P&I repayment, 0.25% for Investment and I/O repayment

16/10/2019
Suncorp

0.15%

18/10/2019
Macquarie Bank

0.15%

17/10/2019
AMP

0.15%

14/10/2019
ING

0.15%

16/10/2019
NPBS

0.13%

20/10/2019
VirginMoney

0.15% for O/O or P&I repayment, 0.20% for Investment and I/O repayment

25/10/2019
Heritage

0.15%

15/10/2019
Qudos Bank

0.15%

15/10/2019

 (This table will be updated as new information becomes available.)

 

If you want to review how these rate changes may affect your existing mortgages or future requirements, please give us a call to discuss.