Interest Rates Down 0.25% – ANZ Commonwealth, NAB, ING, Westpac
BREAKING NEWS:
ANZ for the last 2 years have broken their Friday interest rate review protocol and announced that they will reduce their variable interest rates by 0.25% effective February 12th
NAB also reduced rates today by 0.25%
Westpac slashes beyond rate cut by 0.28% effective 20th February 2015. RAMS, St George and Bank of Melbourne may do the same.
UPDATE: Commonwealth Bank first major to reduce their standard variable rate by 0.25%, effective 20th February 2015
The RBA announced this afternoon they have reduced the official cash rate by 0.25%.
It has been 18 months since interest rate have moved and they are the lowest in 60 years.
We expect that lenders will announce their response over the coming days and we will keep you updated below.
If you have any questions feel free to contact us.
Below shows how much each lender passes on their home loan rates. Interest rates will be updated on our main website once each lender passes on the reduction.
| Current Bank Interest Rates | Rate Cut and Date |
| Adelaide Bank/ Bendigo Bank | -0.25 27th February |
| AMP | -0.25% 20th February |
| ANZ | -0.25% 12th February |
| Bank of Melbourne | -0.25 20th February |
| Bank of Queensland | -0.25% 24th February |
| BankWest | -0.25% 24th February |
| Citibank | -0.25 20th February |
| Commonwealth Bank | -0.25% 20th February |
| ING Direct Bank | -0.25 20th February |
| Member equity bank ( ME) | -0.25 20/02 to 15/03 depending on the product |
| RAMS | -0.25 20th February |
| NAB | -0.25 20th February |
| St George Bank | -0.25 20th February |
| Suncorp Bank | -0.25 20th February |
| Westpac | -0.28 20th February |
COMMERCIAL LOANS
Commercial loans have also decreased. Go to our commercial loans website here
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