Commonwealth Bank slashes fixed rate home loans by up to 60bps, leads market

9 August 2011:  The Commonwealth Bank now leads the market for a suite of fixed rate home loan products following a decision to slice up to 60bps (0.60%) off its fixed rate home loan products.

Fixed rates for 1 to 5 year products will range from 6.59% to 6.99% and will be the lowest rates for the 1 to 5 year products across all banks.

Ross McEwan, Group Executive Retail Banking Services at Commonwealth Bank said: “Many customers want certainty with their home loan repayments and we are pleased to take a lead and offer customers that peace of mind.”

These new rates will be effective Friday 12 August, 2011.

	1 Year	2 years	3 years	4 years	5 years
CBA (current)	6.84%	6.94%	6.99%	7.54%	7.59%
CBA (new)	6.59%	6.59%	6.59%	6.99%	6.99%
Change	- 0.25%	-0.35%	-0.40%	-0.55%	-0.60%

 

* Lowest rates include package discounts where applicable

 

For more information contact:

Steve Batten

Commonwealth Bank

Ph: (02) 9117 7050