Home loan rates decrease to new historic low
ANZ today announced the Standard Variable Rate Indices for Residential Home Loan products will decrease by 0.12%pa, while increasing the rate on its one and two-year term deposits by up to 0.75%pa.
ANZ Group Executive Australia Fred Ohlsson said: “This was a considered decision that balances the expectations of our home loan customers to keep lending rates as low as possible, while also supporting our savings customers who help fund our lending.
“Regulatory and funding costs have continued to rise and we need to remain attractive to depositors. We are pleased however that home loan customers can still benefit from these historically low interest rates and that we have maintained a competitive rate for both owner occupiers and investors.
“Customers concerned about the long-term direction of rates are able to take advantage of our highly competitive fixed rates that are now at historical lows, including our rate of 3.75%pa* fixed for two years,” Mr Ohlsson said.
ANZ has a number of options available to help customers concerned about interest rates and their repayments. Customers who would like assistance should visit any ANZ branch, log on to anz.com or contact ANZ on 13 13 14.