Bendigo Bank is one of several lenders to announce fresh interest rate discounts, shaving 10 basis points off its residential lending interest rates.
Under the bank’s owner-occupied mortgage offering, loans greater than $500,000 now carry an interest rate of 4.13%, down from 4.23%. For loans between $250,000 and $499,999, borrowers can expect an interest rate of 4.23%, while a 4.43% rate is charged for loans up to $249,999.
Suncorp Bank has also shaved 10 basis points from its variable rate products. Its basic loan now has an interest rate of 4.82%, down from 4.92%. The bank’s standard variable loan product now sits at 5.40%, while investment loans are 5.09% for the basic loan and 5.7% for the standard variable product.
The interest rate for fixed-rate personal home loans also reduced 10 basis points for its two-year and three-year fixed loans. Both of them now have a 3.99% interest rate. The same goes for the two-year and three-year fixed loans for investment, with interest rates now sitting at just 4.09%.
Citibank has cut as much as 15 basis points for its professional package variable rates. Its standard variable rate now sits at 4.17%, down from the previous 4.32%, while its variable rate (without Mortgage Plus) is at 4.37%. Fixed rates remain unchanged.