Second tier brand issues fixed challenge

by Caroline Dann19 Sep 2012

St George is adding fuel to the fixed rate war by boasting the “lowest fixed rates” compared to the big four bank brands, as well as offering a financial incentive to borrowers if they switch.

It cut its one and two year rates under its Advantage Package to 5.49% yesterday. It said customers whose applications were currently in progress would still be eligible. 
The second-tier also offered $700 towards switching costs for new applicants converting from a competitor.
St George is the latest in a long line of lenders slashing their fixed rates after the RBA sat tight on the cash rate. 
Last week, CBA announced its rates were at a nine-year low for the bank, while Citibank cut its fixed rates yesterday to sit below its variable rate.
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  • by David 19/09/2012 12:23:22 PM

    ME Bank has 5.39% for 1 & 3 year fixed!