Macquarie, HSBC, & Bank Australia slash rates: Big savings buyers and refinancers
Several top banks slashed rates in a week of major mortgage movements, with buyers and ref...
04 Oct, 2024
| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Extra Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5.04% p.a. | 5.78% p.a. | $2,696 | Principal & Interest | Fixed | $390 | $0 | 80% | |||||||||||||
5.14% p.a. | 5.83% p.a. | $2,727 | Principal & Interest | Fixed | $390 | $0 | 80% | |||||||||||||
5.19% p.a. | 5.97% p.a. | $2,742 | Principal & Interest | Fixed | $390 | $0 | 80% | |||||||||||||
5.19% p.a. | 5.79% p.a. | $2,742 | Principal & Interest | Fixed | $390 | $0 | 80% | |||||||||||||
5.24% p.a. | 5.25% p.a. | $2,758 | Principal & Interest | Variable | $0 | $150 | 60% | |||||||||||||
5.29% p.a. | 5.30% p.a. | $2,773 | Principal & Interest | Variable | $0 | $750 | 70% | |||||||||||||
5.29% p.a. | 6.02% p.a. | $2,773 | Principal & Interest | Fixed | $390 | $0 | 80% | |||||||||||||
5.29% p.a. | 5.98% p.a. | $2,204 | Interest-only | Fixed | $390 | $0 | 80% |
Important Information and Comparison Rate Warning
What you need to know about HSBC home loans
HSBC Bank Australia is part of one of the world's largest banking groups, operating locally since 1965 and servicing customers through branches in all mainland state capitals plus a mobile-first digital platform. Thanks to that global network, the bank caters strongly to expats and internationally mobile professionals while still offering the everyday features Australians expect.
You might find HSBC a good fit if you:
- Live or work across borders and value global perks
HSBC Premier customers not only get discounts on certain home loan fees, they can also open local accounts before moving countries and move money instantly between countries fee-free. - Want plenty of home loan options
HSBC advertises multiple home loan products, from a low-rate, low-fee mortgage, to a packaged option, as well as a home loan offering a redraw facility with a card attached - a vaguely different offering than an offset account. - Plan to tap equity flexibly
The bank still offers a home-equity line of credit that allows borrowers to draw up to 80% of their property's value, paying interest only on the outstanding balance. - Are happy to pay a package fee for sharper rates and waived upfront charges
Many HSBC loans are bundled into its Home Loan Package, which costs $390 per year and waives certain upfront fees while offering interest-rate discounts. - Prefer managing your loan online but still branch back-up
Day-to-day servicing of a HSBC home loan will generally be done via app and internet banking, but the bank does offer a contact centre and branches in Sydney, Melbourne, Brisbane, Perth, Adelaide, and Canberra. - Need a lender that welcomes non-resident or newly arrived borrowers
HSBC's international-mortgage arm helps eligible overseas residents buy or refinance Australian property, drawing on the bank's global credit footprint.
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