Sky News: NAB first major bank to cut rates

National Australia Bank is the first of the big four banks to cut its interest rates, passing on 20 basis points of the central bank’s 25 basis point cut.

NAB will reduce its standard variable home loan rate to 6.38 per cent from December 10, from 6.58 per cent before the cut, while rates on variable business loans will also be cut by 20 basis points.

NAB has promised to offer the lowest standard variable home loan rate of the big four banks. Commonwealth and ANZ would have to cut their rates by at least 22 basis points to match NAB’s offer.

See on www.skynews.com.au

Mortgage Supermart Singapore, Loans Brokerage Solutions to bring you Savings and Smiles. about Mortgages, about Loans, about Financing.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s