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Commonwealth Bank fixed home loan interest rates cut to new lows

18 June 2003

The Commonwealth Bank has cut by up to 0.4% the interest rates on its range of fixed rate home and investment home loans, taking all of its fixed rate range to below 6% pa. The Bank’s five year fixed interest rate falls 0.4% to 5.99% pa, the lowest rate in well over a decade and now the lowest 5 year rate from a major lender.

The Bank’s three and four year fixed rates also both fall to 5.99% pa while the two year rate drops to 5.89% pa.

A special one year rate of 4.99% pa is also available for a limited time for borrowers who take at least half of their home loan at one of the new 3, 4 or 5 year fixed rates.

These fixed rates are effective from Thursday 19th June for new Commonwealth Bank home and investment home loans.

The Commonwealth Bank’s introductory one year guaranteed home loan rate remains at 5.25% pa, while the standard variable rate is unchanged at 6.57% pa.

Executive General Manager Mortgages and Investments, Geoff Austin said: "Falling wholesales markets rates have given us - the nation’s major home lender – the opportunity to pass on the savings to our home loan customers and maintain our position at the leading edge in the competitive home loan market."

The Bank’s new fixed home loan interest rates are:

 

Term

Now 

Change on previous fixed rate

1yr

5.79% pa

Down 0.20%

2yr

5.89% pa

Down 0.20%

3yr

5.99% pa

Down 0.10%

4yr

5.99% pa

Down 0.30%

5yr

5.99% pa

Down 0.40%

 

For details about or to apply for a Commonwealth Bank Home Loan or Investment Home Loan call 13 2224 (8am - 10pm, 365 days a year), visit a branch or the Bank’s internet site at http://www.commbank.com.au/

Media contact:
Bryan Fitzgerald
Group Corporate Relations
Commonwealth Bank of Australia
Tel: (02) 9378 2663 fitzgeb@cba.com.au

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