Effective on 8 May 2017, St George will be increasing the following variable rates for:
- Owner Occupier Interest Only Home Loan variable rates: by 0.08% to 5.50% per annum (comparison rate 5.67% per annum)
- Residential Investment Principal & Interest Home Loan variable rates: by 0.23% to 5.78% per annum (comparison rate 5.95% per annum)
- Residential Investment Interest Only Home Loan variable rates: by 0.31% to 5.98% per annum (comparison rate 6.15% per annum)
Its interest rates are constantly under review, as market and economic conditions change, the bank said in a statement.
St George will also waive the switching fee for those who move from an interest only to a principal and interest home loan up until 23 June this year.
Customers with an Advantage package can switch at any point in time with no additional cost.
