​Last of big four slashes rates

by 20 Feb 2014
CBA has followed the other three major banks in cutting its two and three year fixed-rate loans.

The bank announced yesterday it would reduce rates on all 2 and 3-year fixed rate loans by 0.05%.

New rates for CBA’s 2-year Mortgage Advantage Package are 4.84%, with three-year rates at 5.09%.

Fixed rate home/investment home loans for 2 and 3-year loans are now 4.99% and 5.24% respectively.

The move follows fixed rate cuts from ANZ, Westpac, NAB, Suncorp, Citibank, Advantedge and Teachers Mutual Bank in recent weeks.

Interest rate changes are effective from Wednesday 19 February 2014 for new customers, existing customers who are switching/splitting into a fixed rate, and customers with applications in progress who have not rate locked their interest rate.

COMMENTS

  • by Brado 20/02/2014 9:07:33 AM

    I don't think 0.05% warrants the term 'slashes rates'