Credit Union Australia (CUA) has cut their three-year fixed rate home loan by 10 basis points to 4.79% (5.29% comparison rate).

The offer is effective from Thursday 22 August.

CUA’s new three-year fixed rate home loan includes no ongoing fees and allows up to three repayments to be made in advance without penalty.

Your Mortgage’s home loan calculator shows a 0.10% decrease will save property investors about $16 a month for a home loan of $280,000 on a loan term of 25 years, compared to the previous rate.