Full list reveals lenders yet to pass on latest interest rate hike

Not all banks have followed the lead of the majors. Picture: Britta Campion

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The RBA is expected to hand down a second straight rate increase at its March meeting, but some bank customers seem to have escaped the February hike altogether.

Exclusive data from Finder has revealed there are 25 banks who, as yet, have not passed on the 25 basis point increase that the RBA passed on last month.

Whether it’s an act of generosity, or just slow moving administration, the silence from these lenders since the official cash rate went from 3.60 to 3.85 per cent is in stark contrast to the big four banks, which wasted no time passing on the higher borrowing costs to their customers.

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The rates vary between this group of non-hikers, but so do the loan features, so if considering a switch, due diligence in comparing the lenders to their competition is always essential.

I will get you started with the list of lenders and their current best variable rates, in order from cheapest to most expensive. But bear in mind, some will require lower loan to value ratio (LVR) than others (as in, you’ll need to have more money as a deposit in order to get a good deal).

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RBA Governor Michele Bullock is tipped to announce a second straight cash rate hike. Picture: John Appleyard

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Lenders yet to pass on the Feb rate hike

South West Slopes Bank- 5.1 per cent

Freedom Lend- 5.14 per cent (LVR below 60 per cent required)

Transport Mutual Credit Union- 5.14 per cent (Refinance special)

Pacific Mortgage Group- 5.14 per cent (LVR 80 per cent)

The Mac- 5.17 per cent (First home buyers)

Mortgage House- 5.19 per cent (LVR 80 per cent)

Queensland Country Bank- 5.19 per cent (LVR below 80 per cent required)

BankWAW- 5.24 per cent (LVR below 80 per cent required)

Police Credit Union- 5.24 per cent (First home buyers)

Reduce Home Loans- 5.29 per cent (Eco loan, LVR below 80 per cent)

Hume Bank- 5.34 per cent (LVR below 80 per cent required)

The Capricornian- 5.34 per cent (Loan greater than $150k)

Bank Orange- 5.39 per cent (LVR below 80 per cent required)

Well Money- 5.44 per cent (LVR 80 per cent)

Central Murray Bank- 5.49 per cent (LVR 70-80 per cent)

WLTH- 5.5 per cent

Cairns Bank- 5.54 per cent (LVR below 80 per cent required)

Darling Downs Bank- 5.64 per cent

Firstmac- 5.68 per cent (LVR lower than 80 per cent)

La Trobe Financial- 5.69 per cent

Resi- 6.34 per cent (LVR lower than 80 per cent)

Yellow Brick Road- 6.34 per cent (LVR 80 per cent)

Broken Hill Bank- 6.39 per cent

Yard- 6.43 (LVR 80 per cent)

Central West Credit Union- 6.65 per cent