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%|
(Base Variable Rate)
|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.
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