May 2012 Interest Rate Cut – CBA NAB ANZ Westpac
Update 14th May: ANZ reduce rates by 0.37% and AMP by 0.35%. We will also include their increase or 0.06% mid last month resulting in a net decrease of 0.31%
Update 4th May: Bank West reduce rates by 0.32%. and Westpac by 0.37%. More below
Update 3rd May: ING reduce rates by 0.30%. See other lenders in table below.
Update 1: Commonwealth Bank (CBA) reduced rates by 0.40%, NAB by 0.32%. Waiting on Westpac and other lenders. ANZ will make their decision next Friday.
The Reserve Bank of Australia reduced rates by 0.5%. It seems that each bank and lender will issue their interest rate decision in the coming days or weeks.
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 | -0.35% |
| AMP | -0.35% |
| ANZ | -0.37+0.06= 0.31% |
| Bank of Melbourne | -0.41% |
| Bank of Queensland | -0.35% |
| BankWest | -0.32% |
| Citibank | No Decision Yet |
| Commonwealth Bank | -0.40% |
| Homeside Lending | -0.32% |
| ING Bank | -0.30% |
| Member equity bank ( ME) | -0.30% |
| RAMS | -0.32% |
| NAB | -0.32% |
| St George Bank | -0.38% |
| Suncorp Bank | -0.35% |
| Westpac | -0.37% |
GET MORE FROM YOUR HOME OR BUSINESS LOAN
If you are looking for a home loan or business loan we have qualified and ASIC licenced mortgage brokers to help you;
1. Find a competitive interest rate for commercial and home loans
2. Show you all the costs and fees associated with your loan
2. Show you how to beat the banks
3. Do all the paper work for you and process your loan quickly
For more information go to our home loan or commercial loan websites.
