ME has announced a 40 basis point cut to one of its fixed home loan rates.
The industry super fund-owned bank slashed its two-year Flexible Home Loan fixed rate for owner-occupiers to 3.89%. According to ME, this rate is the lowest rate it has ever offered.
ME’s general manager broker sales, Lino Pelaccia, said ME was able to facilitate the cut as a result of cheaper fixed rate funding.
“We’re choosing to pass these saving on to customers, true to our philosophy of helping everyday Australians get ahead,” he said.
“Savvy borrowers also have the option to split both our two-year fixed rate with our competitive Flexible Home Loan with Member Package variable rate for new loans of 4.19% p.a.”