Which banks are passing on the RBA August 2016 rate cut and when

The RBA has decided to cut rates in August 2016, so what are banks and lenders doing about it? 

To help you keep across what the banks and other lenders decide please check out the table below with who is passing on the savings to you and when.

August 2016 RBA Rate Cut – which lenders are passing on the savings and when?

Lender	Rate Type	Rate change	Effective Date
AMP	Variable	0.10% on all variable rate loans	22 August 2016
ANZ	Variable	0.12% on all variable rate loans	12 August 2016
Bank of Queensland	Variable	0.15% on all variable rate loans	31 August 2016
BankWest	Variable	0.10% on all variable rate loans	23 August 2016
CommBank	Variable	0.13% on all variable rate loans	19 August 2016
Bank of Sydney	Variable	0.25% on all variable rate loans	3 August 2016
CUA	Variable	0.12%	18 August 2916
ING Direct	Variable	0.12% Orange Adavantage 0.10% Other variable Loans	15 August 2016
IMB	Variable	0.10% on all variable rate loans	24 August 2016
Macquarie	Variable	0.10% on all variable rate loans	8 August 2016
ME Bank	Variable	0.10% on all variable rate loans	23 August 2016
NAB	Variable	0.10% on all variable rate loans	19 August 2016
St George	Variable	0.14% on all P & I variable rate loans 0.10% on all Interest Only Loans	23 August 2016
Suncorp	Variable	0.10% on all variable rate loans	24 August 2016
Westpac	Variable	0.14% for P & I  variable rate loans 0.10% for Interest only loans	23 August 2016

Those under review will be updated once a decision is communicated.

Regardless of whether your lender passes on the full cut, you should be reviewing your home loan regularly to ensure that not only your home loan interest rate remains competitive, but also that your home loan is meeting your needs.

The Loans Analyst can quickly and easily do a home loan health check at no cost to you, so give The Loans Analyst a call on 1300 79 72 27 or contact us online and we will get back to you asap.