Commonwealth Bank lifts interest rates by 0.25%

The Commonwealth Bank will increase a range of home loan interest rates, reflecting recent increases in market rates.

Home Lending
The interest rates on owner occupied and investment home loans will increase as follows:

The new home loan interest rates will be effective for new customers from 6 June 2002 and for existing customers from 14 June 2002. The new Residential Equity Rate will be effective from 14 June 2002 for new and existing customers.

The 0.25% interest rate increase means required repayments at the new standard variable rate of 6.57% pa on a principal and interest loan of $100,000 over 25 years increase by $15 per month. For a $150,000 loan, the increase is $23 per month.