UBank extends UHomeLoan offer: now 6.14%p.a. variable, down 0.25%p.a.

8 December 2011

UBank has today announced it is cutting the standard variable rate on its online-only re-finance home loan by 0.25%p.a., from 6.59%p.a. to 6.34%p.a., effective 16 December 2011.

It is also extending a current offer for an additional 0.20% discount for eligible new customers, for the life of their loan, bringing the rate to 6.14% (Loyalty Discount applied immediately: normally 0.10%p.a. after three years).

There are no bank fees on the variable UHomeLoan. Customers can apply online at ubank.com.au in half an hour.

General Manager of UBank, Alex Twigg says it is quick and easy to find big savings on monthly home loan repayments or to pay of your home sooner with UBank.

“Our interest rates are so competitive because we’re online only, which means we have comparatively low operating costs – and we pass these savings on to our customers,” said Alex.

“We’re giving customers an alternative way to bank, that’s truly anytime, anywhere – giving customers more control and helping them reach their goals sooner,” he said.

UHomeLoan launched in February 2011 and was the first home loan in Australia that enabled customers to apply end-to-end online.

UBank is still assessing its deposit interest rates.

For more information or to apply for any UBank product online, visit www.ubank.com.au. Customers can also get assistance from UBank's Australian-based, 24/7 call centre, on 13 30 80 or via Skype (account: ubank.com.au).

Media contact:

Jessica Forrest UBank (NAB Corporate Affairs) 0457 536 958 or jessica.a.forrest@nab.com.au