Check out the latest movement in variable and fixed interest rates over the week ending 1 September.
Keep in mind these rates are for new customers - existing customers may be treated differently.
NAB
NAB increased its special offer base variable rate by 15bps.
NAB Variable Rate Changes – 1 September 2023
|
Home Loan Product |
Change |
Advertised Rate |
Comparison Rate |
|
Base Variable Rate P&I – Special Offer (LVR <80%) |
+15bps |
6.49% p.a. |
6.53% p.a. |
Suncorp Bank
Suncorp Bank rolled out cuts to its special offer variable interest rates. Here are the changes:
Suncorp Variable Rate Changes – 1 September 2023
|
Home Loan Product |
Change |
Advertised Rate |
Comparison Rate |
|
Back to Basics Better Together P&I 70-80% Special Offer |
-4bps |
5.84% p.a. |
5.85% p.a. |
|
Home Package Plus P&I 70-80% Special Offer |
-5bps |
5.95% p.a. |
6.31% p.a. |
|
Investment Home Package Plus P&I 70-80% Special Offer |
-10bps |
6.19% p.a. |
6.54% p.a. |
|
Investment Back to Basics P&I 70-80% Special Offer |
-10bps |
6.09% p.a. |
6.10% p.a. |
MOVE Bank
MOVE Bank made some changes in its variable interest rates under the Straightforward Plus product line for both owner-occupiers and investors. One highlight was the rate cut for the higher LVR option for owner-occupiers.
MOVE Bank Variable Rate Changes – 1 September 2023
|
Home Loan Product |
Change |
Advertised Rate |
Comparison Rate |
|
Straightforward Plus <80% LVR |
+20bps |
5.94% p.a. |
5.99% p.a. |
|
Straightforward Plus 90-95% LVR |
-30bps |
6.54% p.a. |
6.59% p.a. |
|
Straightforward Plus Investment <80% LVR |
+10bps |
6.24% p.a. |
6.29% p.a. |
|
Straightforward Plus Investment 80-90% LVR |
-5bps |
6.69% p.a. |
6.74% p.a. |
MOVE Bank also raised its rates for its Complete Package Fixed line by up to 20bps. This applies to fixed terms for owner-occupiers and investors of up to five years.
Fixed rate changes – week ending 1 September 2023
Some lenders also made changes in their fixed-rate offerings this week. Here are the most notable changes:
- Macquarie increased the rates under the Basic Fixed and Offset Fixed product line by up to 20bps. This applies to both owner-occupiers and investors.
- Easy Street Fin Services rolled out up to 10bps increase in its 1- and 2-year fixed rates.
- Community First Bank also brought its fixed rates up by 10bps. This applies to its basic fixed rate product and the Accelerator Package for owner-occupiers and investors.
- MyState Bank defied the hike trend, cutting its 2- and 3-year fixed rates for owner occupiers by up to 20bps.
Photo by Bigc Studio on Canva.
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