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While banks are raising long-term fixed rates, competition is still fierce for short-term loans. Image: Shutterstock

Record low set for fixed rate loans

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…

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