Westpac makes marginal rate cut
April 8, 2009
The Westpac Bank has cut its standard variable mortgage rate by 10 basis points and has slashed 25 basis points off its rates for business loans and credit cards.
The move comes after the Reserve Bank of Australia cut official interest rates yesterday by 25 basis points.
Westpac's new standard variable home loan rate of 5.81 per cent will become effective on April 20.
Meanwhile, RadoBank and Heritage Building Society have passed on the cut in full and the Commonwealth and ANZ have lowered theirs by 10 basis points.
Sky News
