CommBank announced a second set of rate increases after two adjustments in the last month.
The bank’s latest move covers residential and investment fixed rates, with increases of up to 25bps. These are just a few of the major changes.
|
CommBank Loan Product |
Change |
New Advertised Rate |
Comparison Rate |
|
Residential Fixed P&I 3 yrs |
+15bps |
3.29% p.a. |
4.36% p.a. |
|
Residential Fixed P&I 4 yrs |
+25bps |
3.49% p.a. |
4.34% p.a. |
|
Investment Fixed P&I 4 yrs |
+15bps |
3.69% p.a. |
4.78% p.a. |
|
Investment Fixed P&I 5 yrs |
+20bps |
3.84% p.a. |
4.74% p.a. |
Fixed rates for owners-occupiers as well as investors were raised under the Wealth Package. The most important term, however, is the four-year one.
Other banks listed below also have changed their rates within the last week.
Credit Union SA
Credit Union SA increased its fixed rates for owner-occupiers and investors as part of its special package. Here are the top changes
|
Credit Union SA Loan Product |
Change |
Change in Advertisement Rate |
Comparison Rate |
|
Fixed Home Loan Package P&I 3 yrs Special Offer |
+25bps |
2.59% p.a. |
3.53% p.a |
|
Fixed Home Loan Package P&I 5 yrs Special Offer |
+25bps |
2.84% p.a. |
3.53% p.a |
|
Investment Fixed Home Loan Package P&I 3 yrs Special Offer |
+25bps |
2.84% p.a. |
4.10% p.a. |
|
Investment Fixed Home Loan Package P&I 5 yrs Special Offer |
+25bps |
3.00% p.a. |
3.85% p.a. |
Horizon Bank
Horizon Bank increased its fixed rate and reduced its variable rate. These changes will apply to both investors as well as owner-occupiers.
|
Horizon Bank Loan Program |
Change |
New Advertised Rate |
Comparison Rate |
|
Home Sweet Home Loan |
-40bps |
2.59% p.a. |
2.74% p.a. |
|
A loan to purchase a home as an investment |
-40bps |
2.84% p.a. |
2.98% p.a. |
|
Fixed Rate Home Loan for 3 Years |
+30bps |
2.89% p.a. |
2.71% p.a. |
|
Fixed Rate Home Loan for 5 Years |
+40bps |
3.59% p.a. |
3.03% p.a. |
Great Southern Bank
Great Southern Bank announced another round of fixed rate increases. It is now targeting IO loans with fixed terms for three to five years. These are the most significant changes:
|
Great Southern Bank Loan Products |
Change |
Advertisement Rate Change |
Comparison Rate |
|
Fixed IO 3 yrs |
+25bps |
3.04% p.a. |
3.62% p.a. |
|
Fixed P&I 3 yrs |
+25bps |
2.84% p.a. |
3.57% p.a. |
|
3 Year Investment Fixed IO |
+25bps |
3.24% p.a. |
3.99% p.a. |
|
Investment Fixed P&I 3 yrs |
+25bps |
2.94% p.a. |
3.91% p.a. |
ME Bank
ME Bank increased its fixed rates for Flexible Home Loan Products and the Member Package. These are the biggest changes:
|
ME Bank Loan Products |
Change |
New Advertised Rate |
Comparison Rate |
|
Flexible Fixed OO 1 yr P&I |
+20bps |
2.64% p.a. |
4.18% p.a. (≤80%LVR) |
|
Inv Flexible Fixed 1 yr P&I |
+20bps |
2.84% p.a. |
4.88% p.a. (≤80%LVR) |
|
Member Package Flexible Fixed OO 3 yrs P&I |
+15bps |
2.69% p.a. |
3.07% p.a. (≤80%LVR) |
|
Member Package Inv Flexible Fixed 3 yrs P&I |
+20bps |
2.99% p.a. |
3.65% p.a. (≤80%LVR) |
*OO – owner-occupier
Gateway Bank
The week saw the most significant increases in fixed rates at Gateway Bank.
|
Gateway Bank Loan Products |
Change |
Change in Advertisement Rate |
Comparison Rate |
|
Residential Fixed 3 Year |
+60bps |
2.99% p.a. |
4.11% p.a. |
|
Premium Residential Fixed 5 yrs 150k+ |
+55bps |
3.39% p.a. |
3.63% p.a. |
|
Premium Investment Fixed 3 yrs 150k+ |
+62bps |
3.09% p.a. |
3.80% p.a. |
|
Premium Investment Fixed 5 yrs 150k+ |
+41bps |
3.49% p.a. |
3.88% p.a. |
TicToc
TicToc increased the standard fixed rates it offers for investors and owner-occupiers.
It also reduced the fixed rates it charged investors for four and five years. The rates were based on interest only repayments.
|
TicToc Loan Products |
Change |
New Advertised Rate |
Comparison Rate |
|
Investment Fixed P&I 3 yrs |
+25bps |
2.60% p.a. |
2.79% p.a. |
|
Live-in Fixed P&I 3 yrs |
+25bps |
2.59% p.a. |
2.09% p.a. |
|
Fixed Investment IO 4 Years |
-2bps |
3.22% p.a. |
2.97% p.a. |
|
Fixed Investment IO 5 Years |
-12bps |
3.32% p.a. |
3.03% p.a. |
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