anz 5 yr.. 4.59%
- Thread starter rowena
- Start date
You're correct that you can never beat the bank, but not for the reasons you think.
Fixed rates aren't about beating the bank. The banks buy money as a commodity from other sources, they put their margin on it and sell it to the consumer.
The moment you take a fixed rate, the banks know exactly what their profit will be. It doesn't matter if rates go up, down or nowhere, the banks make their money.
The only way to beat the bank is to not have debt.
Thanks, but just wondering was it right to say it is always to be on floating if you want lowest rates?
Or have debt but not with any bank or any financial institution!
Last edited:
are they any major/2nd tier banks offer a fixed rate product you can fully offset?
i think CBA can only offet 20% once fixed.
i think CBA can only offet 20% once fixed.
CUA
Wide bay
Adelaide Bank and their mortgage managers
Im sure there are others
ta
rolf
Don't fix yet.
Our friends at the RBA are forecasting (but not committing) to at least one more cut!
Our friends at the RBA are forecasting (but not committing) to at least one more cut!
FIXED RATE REDUCTIONS
ING DIRECT will also reduce the fixed interest rate on all terms effective from 10 February 2015.
Refer to the interest rate table below for details on fixed rates from that date.
Please note, where an Orange Advantage customer applies for a Fixed Rate Loan, they may be entitled to an interest rate reduction of 0.10% p.a. off the fixed interest rate for the fixed interest
period.
FIXED RATE LOANS** Interest Rate (p.a.) Comparison Rate (p.a.)
1 Year Fixed Rate 4.59% 5.16%
2 Year Fixed Rate 4.59% 5.11%
3 Year Fixed Rate 4.59% 5.05%
4 Year Fixed Rate 4.59% 5.01%
5 Year Fixed Rate 4.49% 4.92%
----
Effectively on an orange advantage, a 5 year fixed rate of 4.39% (another full rate cut from 4.64% which they are currently for >80% LVR).
Jeez thats sharp!
ING DIRECT will also reduce the fixed interest rate on all terms effective from 10 February 2015.
Refer to the interest rate table below for details on fixed rates from that date.
Please note, where an Orange Advantage customer applies for a Fixed Rate Loan, they may be entitled to an interest rate reduction of 0.10% p.a. off the fixed interest rate for the fixed interest
period.
FIXED RATE LOANS** Interest Rate (p.a.) Comparison Rate (p.a.)
1 Year Fixed Rate 4.59% 5.16%
2 Year Fixed Rate 4.59% 5.11%
3 Year Fixed Rate 4.59% 5.05%
4 Year Fixed Rate 4.59% 5.01%
5 Year Fixed Rate 4.49% 4.92%
----
Effectively on an orange advantage, a 5 year fixed rate of 4.39% (another full rate cut from 4.64% which they are currently for >80% LVR).
Jeez thats sharp!
