Many lenders have responded to last week's Reserve Bank 50 basis point cash rate hike by passing on - or at least announcing - the increase in full to home loan customers.

Whether coming soon or already in effect, these are the lenders that aren't passing on the rate hike in full to home loan customers.

Note that the following products' rates pertain specifically to new home loan customers - existing customers might have a different rate.

Greater Bank

The Newcastle-based customer-owned bank announced it's hiking variable-rate mortgages by 45 basis points.

Announcing the change on 8 September, the rates came into effect on Wednesday 14 September.

For example, the Great Rate product for owner occupiers with a maximum loan-to-value ratio of 90% is now 4.10% p.a. (4.11% p.a. comparison rate*).

Greater Bank CEO Scott Morgan said three-quarters of its home loan customers are more than one month ahead on mortgage repayments.

"We acknowledge that these are challenging times for a number of our home loan customers, particularly those who took out a loan at the bottom of the cycle, which is why we have taken this opportunity to hold back some of the rate rise," Mr Morgan said.

Greater Bank is the seventh-largest customer-owned bank in Australia, with $10.15 billion in assets as of July.


Announced on 12 September, BankVic will increase home loan rates by 45 basis points, effective 20 September.

In the latest rate tightening phase, BankVic has consistently refrained from passing on the rate hikes in-full.

"We recognise that many of our members are working on the frontline of the police, healthcare and emergency services, so we want to support our members in minimising the impacts of increasing living costs" said BankVic CEO Anthony De Fazio in July.


The new CommBank-backed digital lender has not yet passed on August's rate hike, let alone September's.

The rate rise from August will take effect on 22 September - 50 full days after the RBA's August announcement - and only by 40 basis points.

Unloan has not yet announced anything relating to September's increase.

This has allowed the lender to stand distinct among others, with Australia's lowest home loan rate at 3.14% p.a. (3.06% p.a. comparison rate*) according to InfoChoice's database.

'Lowest' is based on parameters of a variable-rate principal & interest home loan for owner occupiers with a 80% loan-to-value ratio.

The lender is refinance-only, meaning new lending is not yet allowed.

"If you're looking to put money back in your pocket, refinancing is probably one of the easiest ways," Unloan CEO Daniel Oertli told Savings Media Group in August.

"Often the savings can be in the tens-of-thousands of dollars over the life of the loan. There's not many things you can do in around 10 minutes that could put tens-of-thousands back into your pocket."

Top-Five Lowest Home Loan Rates

Bank/Lender Interest Rate - Advertised/Comparison* Details
Unloan 3.14% p.a. (3.06% p.a.) 80% LVR, refinance only
P&N Bank 3.24% p.a. (3.24% p.a.) 60% LVR
Bank First 3.34% p.a. (3.39% p.a.) 60% LVR
Teachers Mutual 3.54% p.a. (3.58% p.a.) 95% LVR
Bank Australia 3.55% p.a. (3.59% p.a.) 60% LVR
Source: InfoChoice database. Rates based on variable P&I repayments for owner occupiers. See comparison rate warning.

All of these lenders are yet to announce any rate changes off the back of the RBA's September cash rate increase.