Record low set for fixed rate loans
Boutique lender Greater Bank has set a record low for a fixed rate loan, signaling rising competition for lenders around short-term fixed rates.
While banks are raising long-term fixed rates, competition is still fierce for short-term loans. Image: Shutterstock (Image source: Shutterstock.com)
Boutique lender Greater Bank has set a record low interest rate for a fixed rate loan, signalling rising competition for lenders around short-term fixed rates.
Greater Bank announced this week that it had slashed its one and two-year fixed rate loans for owner-occupiers to 1.59 per cent, the lowest fixed rate ever offered in Australia.
The rate is available for homeowners with properties in New South Wales, Queensland and the ACT.
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