On the 4th of December the Reserve Bank of Australia announced that the Official Cash Rate would be reduced by 25 basis points (0.25%) to the lowest level since the peak of the Global Financial Crisis (3.00%).
Attached below is the summary of the Interest Rate cuts announced by the Banks following the RBA announcement (updated daily).
| Lender | Interest Rate Reduction | New Variable Interest Rate | New Variable Interest Rate | New Variable Interest Rate |
| Loan Amounts $300K – $500K | Loan Amounts $500K – $700K | Loan Amounts > $700K | ||
| (including ongoing discounts) | (including ongoing discounts) | (including ongoing discounts) | ||
| Adelaide Bank | 0.20% | 5.71% | 5.71% | 5.71% |
| ANZ | 0.20% | 5.80% | 5.80% | 5.70% |
| Bankwest | 0.25% | 5.64% | 5.64% | 5.54% |
| Bendigo | TBA | |||
| BOQ | 0.20% | 5.86% | 5.86% | 5.86% |
| Citibank | 0.20% | 5.49% | 5.44% | 5.44% |
| CBA | 0.20% | 5.80% | 5.80% | 5.70% |
| Heritage | 0.20% | 5.44% | 5.44% | 5.44% |
| Homeside | 0.20% | 5.55% | 5.49% | 5.49% |
| ING | 0.25% | 5.48% | 5.38% | 5.38% |
| Macquarie | 0.20% | 5.54% | 5.54% | 5.54% |
| ME Bank | 0.20% | 5.88% | 5.88% | 5.88% |
| NAB | 0.20% | 5.68% | 5.68% | 5.68% |
| St George | 0.20% | 5.67% | 5.67% | 5.59% |
| Suncorp | 0.20% | 5.59% | 5.59% | 5.49% |
| RAMS | 0.19% | 5.70% | 5.70% | 5.65% |
| The Rock Building Society | 0.20% | 5.69% | 5.69% | 5.69% |
| Westpac | 0.20% | 5.81% | 5.61% | 5.61% |
| Comparison Rates are available on the Banks websites | ||||
