How much of the Rate Cut did your Bank pass on ???
The Reserve Bank of Australia announced today the Official Cash Rate will be reduced by 0.25% p.a. (25 bp).
This is the first official reduction in Interest Rates for more than 2 years and will be a great relief for the many Australians households who continue to be challenged by the current economic climate.
Two questions that need to be answered …
Question 1: Will my Bank pass on the full Interest Rate cut ???
Answer: Listed below is the updated list of the Banks / Lenders who have announced Interest Rate reductions.
Question 2: How can I make the most of the reduced Interest Rate ???
Answer: If your budget will allow … resist the urge to reduce your Home Loan repayments. Maintaining your repayments at their current level reduce your Home Loan debt faster & enable you to own your home sooner.
or
If your family would benefit more from having more money available to cover your other household expenses … a simple request will enable you to reduce your Home Loan repayments.
To know more or to discuss your individual circumstances & requirements please:
Contact us or phone David Pattemore (07) 5527 4744
Bank: Interest Rate Cut:
Westpac 0.25% p.a.
CBA 0.25% p.a.
ANZ 0.25% p.a.
St George 0.25% p.a.
NAB 0.20% p.a
Bank of Qld 0.25% p.a.
ING 0.25% p.a.
Macquarie 0.25% p.a.
BankWest 0.25% p.a.
Homeside 0.25% p.a.
Adelaide Bank 0.20% p.a.
AMP Bank 0.25% p.a.
Bank of Melbourne 0.25% p.a.
Bank of S.A. 0.25% p.a.
Citibank 0.25% p.a.
Please Note:
This information will continue to be updated as the Banks & Lenders announce their Interest Rate reductions.
