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Commonwealth Bank lifts interest rates on deposits and standard variable home loans

6 April 2010:  The Commonwealth Bank today announced it will increase interest rates on a range of deposit and variable home loan accounts, reflecting recent increases in market interest rates and wholesale funding costs. 

The deposit interest rate on the NetBank Saver and Business Online Saver accounts will increase by 0.25 per cent per annum, effective 9 April.

Owner occupied and investment home loan interest rates will increase as follows:

 

Old Rate % pa

New Rate % pa

Change

Complete Home Loan Variable Rate

6.86%

7.11%

+0.25%

Economiser (Base Variable Rate)

6.35%

6.60%

+0.25%

Viridian Line of Credit (Residential Equity Rate)

6.96%

7.21%

+0.25%


The new variable home loan interest rates will be effective for new and existing customers from 9 April 2010.  

 

- ENDS –

 

Media contact:

Steve Batten

(02) 9378 2504

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