Non-major lowers fixed rates

by AB25 Mar 2013

Gateway Credit Union has reduced its Premium Package two and three-year fixed rates by 0.40% p.a. to 5.09% p.a. (CR 5.69% p.a.) and to 5.14% p.a. (CR 5.67% p.a.) respectively, effective as of Friday, March 22.

The lender says it’s also offering a free rate guarantee on its Premium Package. For a limited time, the fixed rates on the Premium Package are guaranteed for 60 days from the date Gateway receives the loan application.

Gateway chief operating officer, Gary English, says borrowers typically pay to lock in the rate.

“As we reach the end of the downward rate cycle, at 5.14% p.a. our three-year fixed rate offer represents great value. As well as the free 60 day rate lock offer, by combining it with our Premium Package variable rate at 5.53% p.a. (CR 5.77% p.a.), it is an opportunity for borrowers to get a fantastic blended rate.”