About Us > Media Centre > Media Releases/ASX Announcements > Media releases 2000 > Media releases December 2000 > National drops fixed rate home loans by up to 0.55% - 8 December
|
National drops fixed rate home loans by up to 0.55% - 8 December 2000
|
|
|
|
The National Australia Bank has announced a reduction in fixed interest rate home loans of up to 0.55 per cent, effective from 11 December 2000.
The new rates are as follows:
| 1 year |
7.10% |
(previously 7.64%) |
| 2 year |
7.35% |
(previously 7.90%) |
| 3 year |
7.15% |
(previously 7.49%) |
| 4 year |
7.60% |
(previously 8.00%) |
| 5 year |
7.60% |
(unchanged) |
| 10 year |
8.09% |
(unchanged) |
Mr Ken Hodgson, the National's General Manager, Retail Financial Services, said the decision to lower fixed rate home loans followed a recent downward move in wholesale market rates.
"Our three year fixed rate loan represents outstanding value for home buyers at a time of the year when people are often considering a home purchase or refinancing," he said.
"The 0.55 per cent fall in the two year fixed rate to 7.35 per cent should also be welcomed by home buyers," he said.
The National also continues to offer customers highly competitive introductory fixed rates on the National Tailored Home Loan Package, which are 6.99% for one year or 5.99% for six months.
|
