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Commonwealth Bank to give Aussies instant rewards at Myer

Media release

CommBank can

Media release

Commonwealth Bank cuts interest rates on standard variable home loans

5 December 2012: The Commonwealth Bank Group (Group) today announced it will reduce interest rates on its standard variable home loan account by 0.20 per cent per annum with effect from Monday 10 December 2012. The new Standard Variable Rate is 6.40 per cent per annum.

In making this decision, the Group has continued to balance the needs of 1.8 million home loan borrowers with those of its 11 million depositors and its shareholders, who include 800,000 Australians who own its shares directly, and millions more Australians who own shares through superannuation funds.

A significant factor impacting this balancing of needs has been the increased competition in the domestic deposit market which has benefitted many customers, including those who rely on interest earnings to meet their living expenses.

ENDS


Steve Batten
Commonwealth Bank
P: (02) 9117 7050

Media contact:

Steve Batten
Commonwealth Bank
P: (02) 9117 7050