How to Get a Better Rate: Your 4-Step Checklist

Banks often save their best rates for customers who ask. Use this checklist to get a sharper rate from your current lender – and if they won’t budge, we’ll find you something better.

  1. Know your numbers

    Before you call, have these handy (they're on your latest loan statement or banking app):

    • Your current interest rate and whether it's variable or fixed
    • Your loan balance and roughly what the property is worth
    • Owner occupied or investment, and principal & interest or interest only

  2. Call your bank and ask for a better rate

    Ask to speak to the retention or loan pricing team. Tell them a broker is offering you a lower rate and quote the best rate shown above for your loan type.

    “Hi, I've been approached by a broker, Approva, who can get me a lower rate. I'd rather stay with you – can you match it or get close?”
    • Be polite but firm – don't accept the first “no”
    • Ask for the new rate in writing (email or app message) and when it starts
    • Check there are no new fees or conditions attached

  3. Tell us what they offered

    Let us know how you went – it takes 30 seconds. We'll tell you straight away whether it's a good deal or if we can beat it.

    Thanks – a broker will be in touch shortly.

  4. If they haven't moved – let us find you something better

    Complete our quick Borrowing Capacity form and we'll come back with our best option for you – we compare 60+ lenders, handle the paperwork with your new and old bank, and look for cashback offers where available, at no cost to you.

    Complete the Borrowing Capacity form →Work out switching costs📞 0414 901 362

General information only – not a credit recommendation. Rates shown are subject to lender approval, terms, conditions and eligibility. Your bank's retention offer may differ for your circumstances.