Tue, 2008-12-02 14:12
Commonwealth have moved quickly again to announce the full 1.00 percent cut to variable interest rates today following the Reserve Bank of Australia announcement a short while ago.
The Commonwealth Bank announced that it would be reducing its standard variable rate home loans, as from Friday 12 December 2008, passing on the full interest rate cut of 100 basis points made by the Reserve Bank of Australia (RBA) earlier today.
Interest rates for the following lending products (new and existing borrowings) will change from Friday 12 December 2008:
- Standard Variable Rate (including Low Doc)
- 12 Months Discounted Variable Rate
- Base Variable Rate (Economiser) (Rate Saver) (including Low Doc)
- Base Variable Rate (3 Year Special Economiser) (3 year Special Rate Saver)
- Residential Property Investment Loan (no longer available for sale)
- VLOC - Residential Equity Rate (including Low Doc)
- Equity Unlock Loan for Seniors
- MISA Standard Variable Rate
- MISA – 12 mth Discounted Variable Rate