MOVE Bank has reduced rates on several variable and fixed home loan rates by up to 0.40% p.a. effective 1 February 2021.
These cuts are in addition to previous reductions in November following the RBA’s decision to reduce the official cash rate and apply to both owner-occupied and investment loans.
Effective 1 February 2021
|
Product |
Change |
New Rate |
Comparison Rate* |
|
Owner Occupied |
|
||
|
Straightforward Home Loan |
|
||
|
$150,000 - $499,999 |
-0.15% |
2.39% |
2.43% |
|
$500,000 + |
-0.15% |
2.29% |
2.33% |
|
Complete Package Fixed Rate Home Loan |
|
||
|
2 Year |
-0.10% |
2.09% |
3.07% |
|
3 Year |
-0.40% |
2.09% |
3.02% |
|
Investment |
|
||
|
Straightforward Investment Loan |
|
||
|
$150,000 - $499,999 |
-0.15% |
2.54% |
2.58% |
|
$500,000 + |
-0.15% |
2.44% |
2.48% |
|
Complete Package Fixed Rate Investment Loan |
|
||
|
3 Year |
-0.30% |
2.39% |
3.52% |
Deposit Changes
We have also made the difficult decision to reduce interest rates on our online savings accounts by up to 0.15% p.a.
As a mutual bank, we are committed to finding the right balance between delivering great value to our members, responding to changing market conditions and ensuring we operate sustainably. The record low interest rate environment has made the decision to reduce deposit rates necessary.
Effective 1 February 2021:
- Express Saver and First Home Saver reduced by 0.10%
- Bonus Saver reduced by 0.15%
If you have any questions about these changes, please contact us on 1300 362 216 or email us at info@movebank.com.au.
Interest rates subject to change. All rates quoted are per annum (p.a.) Fees and charges apply. *The 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. AFSL/Australian Credit License 234 536.
