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Westpac and NAB hike rates by 0.25%

04/03/2010

Westpac and NAB have followed the other major banks and raised rates by 0.25 per cent.

Westpac's standard variable home loan interest rate and variable business lending rate will be 7.01 per cent from Friday the 5th of March and NAB's standard home loan rate will be 6.74 per cent, also effective from Friday the 5th of March.

Commonwealth Bank, ANZ Banking Group and Westpac subsidiary St George announced similiar rises on Tuesday. Westpac group executive of retail and business banking, Rob Coombe, said credit card interest rates and deposit rates also would increase by 25 basis points.

Source: Herald Sun/AAP



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