RBA Cash Rate: 4.10%
The Reserve Bank of Australia increased the cash rate to 4.10% on March 17, 2026. This was a 25 basis point increase from 3.85%, decided by a split vote of 5 to 4. All major banks have passed on the full increase to variable rate borrowers, effective March 27 (Westpac: March 31).
Home Loan Rates — Owner Occupied (Variable)
The lowest owner-occupied variable home loan rate in Australia as of March 2026 is 5.54% from La Trobe Financial. The Big 4 bank average is approximately 5.87%.
| Lender | OO Rate | Investment | Type |
|---|---|---|---|
| La Trobe Financial | 5.54% | 5.84% | Non-bank |
| Macquarie Bank | 5.59% | 5.89% | Non-bank |
| Westpac | 5.74% | 5.79% | Bank |
| ANZ | 5.76% | 5.95% | Bank |
| Bankwest | 5.84% | 6.14% | Bank |
| ING | 5.89% | 6.19% | Non-bank |
| Suncorp | 5.89% | 6.19% | Bank |
| CBA | 5.99% | 6.09% | Bank |
| NAB | 5.99% | 6.29% | Bank |
| AFG Bright | 6.24% | 6.54% | Non-bank |
| Liberty | 6.24% | 6.54% | Non-bank |
| Pepper Money | 6.39% | 6.69% | Non-bank |
Personal Loan Rates
The lowest personal loan rate in Australia as of March 2026 is 5.76% from Harmoney. Rates vary significantly based on credit score — borrowers with excellent credit (800+) typically receive rates under 9%, while those with poor credit may pay 18-25%.
| Lender | Rate From | Type |
|---|---|---|
| Harmoney | 5.76% | Unsecured |
| MoneyMe | 5.99% | Unsecured |
| Wisr | 6.94% | Unsecured |
| SocietyOne | 9.20% | Unsecured |
| Westpac | 9.24% | Both |
| ANZ | 9.74% | Both |
| Liberty | 13.24% | Both |
| Pepper Money | 14.24% | Both |
Car Loan Rates
The lowest car loan rate in Australia as of March 2026 is 6.99%, available from Westpac, Great Southern Bank, and AFG Options. Secured car loans are typically 1-3% cheaper than unsecured personal loans used for car purchases.
| Lender | Rate From | Type |
|---|---|---|
| Westpac | 6.99% | Bank |
| Great Southern Bank | 6.99% | Bank |
| AFG Options | 6.99% | Non-bank |
| UniBank | 7.49% | Bank |
| Plenti | 7.49% | Non-bank |
| Liberty | 8.49% | Non-bank |
| Pepper Money | 8.99% | Non-bank |
Non-Bank vs Bank: Why It Matters
Non-bank lenders consistently offer lower rates than the Big 4 banks. They also use a lower serviceability buffer (2.00-2.75% vs banks' 3.00%), meaning borrowers can qualify for $50,000-$100,000 more through a non-bank. Both are regulated by ASIC and must follow responsible lending laws.
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