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Commonwealth Bank cuts interest rates on Standard Variable Home Loans

1 November 2011: The Commonwealth Bank today announced it will reduce interest rates on its range of variable home loan accounts by 0.25 percent, reflecting the recent decrease in funding costs as a result of the lower Official Cash Rate announced by the Reserve Bank of Australia.  

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

 

  Old Rate % pa New Rate % pa Change
Complete Home Loan Variable Rate 7.81% 7.56% -0.25%
No Fee Variable Rate 7.11% 6.86% -0.25%
Economiser
(Base Variable Rate)
7.30% 7.05% -0.25%
Viridian Line of Credit (Residential Equity Rate) 7.91% 7.66% -0.25%

 

The new variable home loan interest rates will be effective for new and existing customers from Friday 4 November 2011.

– ENDS –

 

Media contact:
Steve Batten
(02) 9117 7050