On 20 August we reduced interest rates across a total of nine owner-occupied and investment home loans to ensure we are offering members our best rate possible.

These cuts are in addition to previous reductions in July and August following the Reserve Bank of Australia’s decision to reduce the official cash rate and apply to over half of our home loan offering.

MOVE Bank CEO Therese Turner said the cuts were the result of the bank’s commitment to ensuring their rates offered maximum value,

 “After two consecutive months of RBA cash rate reductions, we have seen significant levels of interest rate movement within the home loan market.  

Once the market settled, we reviewed our rates again and saw there was an opportunity to re-establish our position as a market leader with our award-winning home loans,” said MOVE Bank CEO Therese Turner.

We are also part of a small minority of lenders who have not made any out of cycle rate increases to our variable owner-occupied home loans in the last 12 months.

 

The following interest rates are available now for new loans for new and existing members:

Product

New Rate

New Comparison Rate*

Ultra-Low Lockit 3Y Fixed Home Loan

2.98%

4.06%

Straightforward Home Loan

3.09%

3.12%

First Home Loan – 1 Y Introductory Rate

3.19%

3.68%

Flexi Fixed Rate 1 Y

3.19%

4.32%

Flexi Fixed Rate 2 Y

3.29%

4.23%

Flexi Fixed Rate 3 Y

3.39%

4.17%

Investment Lockit 1 Y

3.19%

4.90%

Investment Lockit 3 Y

3.39%

4.64%

Lockit Fixed Rate 5 Y

3.79%

4.18%

 

 

 

If you have any questions about these changes please contact our member experience team by email at info@movebank.com.au or by calling us on 1300 362 216.

 

Rates are current as at 30/08/2019 and subject to change. *Comparison rate is based on a secured loan of $150,000 for a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Fees and charges apply. All rates quoted are per annum. All applications are subject to MOVE Bank's standard credit assessment and eligibility criteria. AFSL/Australian credit licence 234 536

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