How it works

01

Apply online

Complete our 100% online application which takes less than a minute.

Receive our email with a secure link

You'll instantly receive an email from RateDrop with a secure link to access our open banking platform.

02

03

Select your bank

Select your lender and authorise the connection, using a one-time
code sent to your phone.

04

Select your home loan account(s) you wish
RateDrop to manage and negotiate for you. Then you’re finished!

Select your account

05

We negotiate for you

It generally takes a bank 24 hours to notify us of their decision. If your bank reduces your home loan rate, we’ll notify you by SMS and email. RateDrop handles everything, so you’ll see the new rate and savings within 30 days.

Keep your loan competitive

RateDrop will continue to monitor your rates, using our real-time interest rate monitoring technology, notifying you if your rate goes above a set standard.

If your lender doesn’t reduce your interest rate, we will compare it to similar products on the market, offering the option to refinance, as a last resort, if a lower rate

is available.