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Aussie has dropped variable rates by 0.18% with discounted rates starting from 5.69% (comparison rate 5.87%) on the Aussie Select Standard home loan and from 5.82% (comparison rate 5.83%) on its Aussie Optimiser Basic home loan.

The change will be effective for new business on Monday 15th October and existing business this Friday 19th October.

The rate cut comes after reductions in the variable home loan rate across the industry and the Reserve Bank of Australia’s decision to cut the cash rate by 25 basis points at the start of the month.