CBA cuts interest rates
March 7, 2009
Home Loan Interest Rates Reduced, Effective Friday 17 April 2009
The Commonwealth Bank will cut its standard variable home loan interest rate by 0.10% following the Reserve Bank of Australia's cut to the official cash rate. The Bank's new standard variable rate will be 5.64%. We continue to offer one of the most competitive interest rates amongst our major bank competitors. Our Line of Credit will be reduced by 0.05%.
The new rates will be effective from Friday 17 April 2009 for new and existing customers.
This is the sixth successive rate cut to the Commonwealth Bank's standard variable rate home loans in as many months, and is good news for our home loan customers. As Australia's largest home lender, we are committed to remaining competitive in the mortgage market and will continue to offer competitive pricing, policy and processes that can be relied on.
