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Latest Bank Of Us News

Online bank to break 2% fixed rate barrier

Boutique lender Bank of Us is set to introduce one, two and three-year fixed interest rates at 1.99 per cent, becoming the first lender to break the 2 per cent barrier.

Financial data graph
A race to the interest rate bottom is starting to occur among lenders.

Boutique lender Bank of Us is set to introduce one, two and three-year fixed interest rates at 1.99 per cent tomorrow, becoming the first Australian lender to break the 2 per cent barrier.

The Tasmanian customer-owned bank cut its one and two-year fixed rates by 0.6 per cent, while its three-year fixed rate was slashed by 1.14 per cent.

Canstar finance expert Steve Mickenbecker said the savings on offer were the biggest seen yet.

“Bank of Us h…