June Interest Rates Down 0.25% – ANZ, Westpac, CBA, NAB, ING
UPDATE: ING reduce interest rates by 0.20% and ANZ just announced rates reduced by 0.25%, NAB by 0.21% and Commonwealth Bank 0.21%. Check below for latest updates
The Reserve Bank of Australia announced a 0.25% official interest rate cut, down to 3.50%. We will have to wait and see how the major banks; Commonwealth Bank, ANZ, NAB and Westpac, reduce their interest rates.
As a guide the Bank of Queensland reduced rates by 0.20% so we can expect the majors and second tier lenders not to pass on the full rate cut.
We will update each lenders decision on their variable rate interest rates for home loans and business loans here.
| Current Bank Interest Rates | Rate Cut |
| Adelaide Bank/ Bendigo Bank | No Decision Yet |
| AMP | -0.20% |
| ANZ | -0.25% |
| Bank of Melbourne | -0.19% |
| Bank of Queensland | -0.20% |
| BankWest | -0.20% |
| Citibank | No Decision Yet |
| Commonwealth Bank | -0.21% |
| Homeside Lending | -0.21% |
| ING Direct Bank | -0.20% |
| Member equity bank ( ME) | -0.16% |
| RAMS | -0.21% |
| NAB | -0.21% |
| St George Bank | -0.18% |
| Suncorp Bank | -0.20% |
| Westpac | -0.20% |
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