ANZ moves .27%

I'm feeling pretty good about this! Good to see one of the banks actually recognising that the cost of funding is going down.

....or recognizing they could make more but charging less by picking up some extra business having the lowest SVR.
 
I must say that I'm surprised. Hopefully, this will be the start of an interest rate "war" between the big 4.

4.99% for 3 years. What does this say about our economy?
 
Lol this is just a gimmick. They will adjust their discount rates accordingly.

Bit like NAB lowest standard variable rate....

how many people are on a standard rate without and discounting...



But I like the lowering of the 3 year fixed rates, I hope some good competition follows.
 
and interest in advance, had risen with ANZ, for 2 yr in the past month, but their 3 yr rate has now dropped.

Interestingly the 2 yr rate was 4.79% and now at 5.09%
The 3 yr rate was at 5.09 but now has dropped to 4.79% as of friday. If your on the breakfree that comes in at 4.64%

For me I just hope this rate hangs out til after June 30! Didnt really want to have all that extra deduction this financial year... unless the budget on tues changes property & tax..
 
Rowena can you please explain the 3 year interest in advance? Do you pay 3 years of interest upfront to get the lower rate? or are you in a 3 year contract where on every year come June 30th you have to pay up? Does this require a new loan application?
In what situations is I in A beneficial?
 
Rowena can you please explain the 3 year interest in advance? Do you pay 3 years of interest upfront to get the lower rate? or are you in a 3 year contract where on every year come June 30th you have to pay up? Does this require a new loan application?
In what situations is I in A beneficial?

every year you pay upfront the following years interest
no
where you would like to 'pull forward' a tax deduction into the current year what would normally be on the following year.

For instance where your income or tax rates change, asset sales triggering CGT etc etc
 
so am curious.... if you go thru a new loan application and you fail, what happens? does it stay on the old loan or do they call it in?
 
Not sure if I'm missing something but the 3yrs fixed seems pretty ordinary looking at the comparison rate compared to the variable. :confused:

3yrs fixed = 6.12 - 0.15 discount = 5.97%
Variable = 6.50 - 0.60 discount = 5.90%

For loans above $250k

I'll be sticking with the variable thanks.. considering all the talk of rates dropping further. I just hope Liberal doesn't get the economy booming again too soon ;)
 
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