Westpac cuts two year fixed rate home loan to 4.99%
If you want to review your loan call Danny on 02 9290 2777, or email him on danny.luu@liquidityfinance.com.au
Westpac announced it will reduce its two year fixed rate mortgage to 4.99% (with Premier Advantage Package). The new offer represents a cut of 0.4% on the current two year fixed interest rate. The new rate takes effect from Thursday 7 February 2013 and will be available for both new and existing customers.
This places Westpac as a market leader among the major banks and is Westpac’s lowest offer on two year fixed rates since April 2009.
Effective Thursday 7 February 2013, the fixed rates will be as follows:|
Term
|
Current Rate (Stand Alone)
% p.a. |
New Rate
(Stand Alone) % p.a. |
New Rate
(Premier Advantage Package) % p.a. |
Change %
|
|
1 year
|
5.69
|
5.69
|
5.49
|
–
|
|
2 year
|
5.59
|
5.19
|
4.99
|
– 0.40%
|
|
3 year
|
5.59
|
5.59
|
5.39
|
–
|
|
4 year
|
5.89
|
5.89
|
5.69
|
–
|
|
5 year
|
5.89
|
5.89
|
5.69
|
–
|
|
6 year (IPL only)
|
7.00
|
7.00
|
6.80
|
–
|
|
7 year
|
7.50
|
7.50
|
7.30
|
–
|
|
9 year (IPL only)
|
7.50
|
7.50
|
7.30
|
–
|
|
10 year
|
7.50
|
7.50
|
7.30
|
–
|
|
12 year (IPL only)
|
7.60
|
7.60
|
7.40
|
–
|
Note: Fixed Rate SMSF Investment Property Loans have changed by the same amount, and remain at
a premium of 0.35% above the standard carded fixed rates.
a premium of 0.35% above the standard carded fixed rates.
The comparison table below shows Westpac as the market leader with the lowest fixed rates amongst the majors for 2 and 5 year fixed loan terms:
|
Lender
|
1 year fixed rate (packaged)
|
2 year fixed rate (packaged)
|
3 year fixed rate (packaged)
|
4 year fixed rate (packaged)
|
5 year fixed rate (packaged)
|
|
Westpac
|
5.49
|
4.99
|
5.39
|
5.69
|
5.69
|
|
CBA
|
5.19
|
5.29
|
5.29
|
5.64
|
5.69
|
|
ANZ
|
5.34
|
5.34
|
5.39
|
5.84
|
5.84
|
|
NAB
|
5.24
|
5.34
|
5.29
|
5.64
|
5.84
|
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