• Aron Cardona - Mortgage Broker Northern Beaches

Interest Rate Round-Up

Updated: Oct 9, 2019


Since the Reserve Bank of Australia (RBA) cut the official cash rate by 25 basis points to a record low of 0.75% last Tuesday, non-major lenders have struggled to find the right balance to meet the needs of both their deposit holding and lending customers in their responsive rate adjustments.


Heritage Bank

Heritage announced it will cut its variable home loan interest rates by 0.15% and its variable personal loans and credit card rates by 0.25%, effective 15 October.


Bendigo Bank

Bendigo will also reduce all variable home loan interest rates by 0.15%, for both new and existing customers.

The home loan interest rate changes will be effective from 15 October.


Bank of Queensland

BOQ’s variable interest rate for owner occupiers and investors making interest only repayments will be reduced by 0.25%. The variable interest rate for borrowers paying P&I will be reduced by 0.10%.

The changes go into effect on 25 October.


Virgin Money

Virgin Money’s variable interest rate for borrowers making Interest only repayments will be reduced by 0.20%. The variable interest rate for those making P&I repayments will be reduced by 0.15%.

The changes take effect 25 October.


P&N Bank

Western Australia’s largest bank, customer-owned P&N, is passing on between 0.16% and 0.25% to both new and existing borrowers, effective 15 October.


AMP Bank

Effective 14 October, AMP Bank is reducing interest rates across all variable rate home loans by 0.15%.


MyState Bank

MyState will cut variable home loan interest rates by 0.15%, effective 14 October for new loans and 29 October for existing loans.


ME Bank

ME will cut interest rates for all new and existing variable home loan customers by 0.15%, effective 24 October.


ING

ING will cut interest rates for all new and existing variable home loan customers by 0.15%, effective 16 October.


CBA

CBA will reduce its Standard Variable Rates for home loan customers by 0.13% p.a. for all lending except investment interest only loans which will decrease by 0.25% p.a. on the 22nd of October


ANZ

ANZ will reduce its Standard Variable Rates for home loan customers by 0.14% p.a. for all lending except investment interest only loans which will decrease by 0.25% p.a. on the 11th of October


NAB

NAB will reduce its Standard Variable Rates for home loan customers by 0.15% p.a. for all lending except investment interest only loans which will decrease by 0.30% p.a. on the 11th of October


Westpac

Westpac will reduce all variable home loan interest rates by 0.15%, for both new and existing customers effective the 16th of October


St George

St George will reduce all variable home loan interest rates by 0.15%, for both new and existing customers effective the 16th of October


Bankwest

Bankwest will reduce its Standard Variable Rates for home loan customers by 0.13% p.a. for all lending except investment interest only loans which will decrease by 0.25% p.a. on the 16th of October



Review your home loan by clicking here

11 views

Proudly Awarded MPA Magazine's Top 30 Brokers in 2016

  • https://www.facebook.com/cardonaandc
  • LinkedIn - White Circle
  • Google Places - White Circle

copyright cardona&co financial solutions, Australian Business Number 30 828 685 715, Authorised Credit Representative Number 455334