ANZ Rate Increase 0.18%: Follows Westpac NAB and CBA

Oct 23, 2015 ANZ, Commonwealth Bank, Home Loans, variable interest rate by Administrator

Along with NAB, ANZ Bank have announced that they will be increasing their variable interest rates by 0.18% effective 20th November 2015.

Following Westpacs, NAB and Commonwealth Banks move to increase variable interest rates they too cited that they are partially offsetting costs associated with recent changes to capital requirements.

All four banks have decided to slug its customers to raise capital to secure their lending obligations by APRA. However, the countries treasurer, Scott Morrison, said there are many other ways for banks to raise the capital without hitting its customers.

The change is just under a month away so those considering new finance within this time should take into account the interest rate change.

There are many deals out there and you can compare home loans and compare investment loans at our home loan comparison pages.

If you need help with your home, investment or commercial finances we have professional mortgage advisors Australia wide that offer free mortgage help by simply contacting us.