RBA rate cut: Banks yet to pass on cuts exposed

A 25-basis-point reduction to the official cash rate was announced on Tuesday, brining it down to 4.10% from 4.35%.

It was the first rate cut since 2020 and follows 13 consecutive hikes that pushed rates to their highest level since 2011.

Commonwealth Bank, ANZ, NAB and Westpac quickly announced they would implement the full 25-point reduction.

A full list of which banks have and have not passed on the cuts is below:

Banks who have passed on the cut so far

NAB- New lowest rate 6.19%- Effective 28 February

CommBank- 5.90%- 28 February

ANZ- 5.84%- 28 February

Westpac- 6.19%- 4 March

Athena-5.99%- 18 February

Auswide Bank-5.74% 28 February

Australian Mutual Bank- 5.44%- 1 March

Bank Australia- 5.13% (Clean Energy Home Loan only)- 4 March

Bank First- 5.84%- 27 February

Bank of Melbourne- 6.04%- 4 March

Bank of Queensland- 5.93%- 7 March

BankSA- 6.04%- 4 March

BankVic- 5.74%- 4 March

Bankwest- 6.04%- 28 February

Bendigo Bank

Beyond Bank- 5.89%- 4 March

Defence Bank- 6.34%- 27 February

Firefighters Mutual Bank- 5.74%- 28 February

Firstmac- 5.89%- 4 March

Great Southern Bank- 5.89%- 4 March

Greater Bank- 5.74%- 7 March

G&C Mutual Bank- 5.70%- 1 March

Homeloans.com.au- 6.14%- 5 March

Homestar- 5.74%- 4 March

HSBC- 5.74%- 10 March

Hume Bank- 5.74%- 3 March

IMB- 5.79%- 4 March

ING- 5.89%- 4 March

loans.com.au- 5.74%- 4 March

Macquarie Bank- 5.89%- 28 February

ME Bank- 5.88%- 8 March

MyState Bank- 5.79%- 4 March

Newcastle Permanent- 5.74%- 7 March

Pepper Money- 6.59%- 5 March

Resi- 5.89%- 28 February

Resimac- 6.14%- 5 March

St. George- 6.04%- 4 March

Suncorp- 5.57%- 28 February

Teachers Mutual Bank- 5.74%- 28 February

The Mutual- 5.64%- 4 March

Transport Mutual- 6.69%- 21 February

Ubank- 5.84%- 27 February

Unibank- 5.74%- 28 February

Unloan- 5.74%- 21 February

Yard Home Loans- 5.89%- 7 March

Yellow Brick Road- 7.39%- 28 February

'How interest rate cuts affect the property market': youtube.com/mortgagechoice

Banks who have not yet passed on cuts

Aussie

RACQ Bank

Heritage Bank

FreedomLend

Broken Hill Bank

Adelaide Bank

Australian Unity

First Option Bank

Liberty Financial

Well Money

Unity Bank

MOVE Bank

Virgin Money

NRMA Insurance Home Loan

Summerland Bank

Reduce

Sucasa

Border Bank

Southern Cross Credit Union

Coastline Credit Union

Up Home Loan

La Trobe

Credit Union SA

Police Bank

Community First Bank

Pacific Mortgage Group

Illawarra Credit Union

Horizon Bank

Qudos Bank

People’s Choice Credit Union

Geelong Bank

BankWAW

Warwick Credit Union

The Mac

Arab Bank Australia

Regional Australia Bank

Queensland Country Bank

Cairns Bank

Bank of China

Australian Military Bank

Qantas Money

Mortgage House

Tiimely Home

Household Capital

Macquarie Credit Union

Easy Street

MacArthur Credit Union

Bank of us

The Capricornian

Laboratories Credit Union

Fire Service Credit Union

QBank

Woolworths Team Bank

NICU

Dnister

Central Murray Credit Union

Bank Orange

Police Credit Union

South West Slopes Bank

Central West Credit Union

Goulburn Murray Credit Union

Family First Credit Union