We have dropped our interest rates across a total of nine owner occupied and investment home loans, in some cases by as much as 0.60% p.a. The cuts are in addition to previous reductions in July and August following the RBA’s decision to reduce the official cash rate and apply to over half of their total home loan products.
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.”
We are also part of the small minority of lenders who have not made any out of cycle rate increases to their variable owner-occupied home loans in the last 12 months.
The following interest rates are available now for new loans and as of 1 September 2019 for existing product holders:
Ultra-Low Lockit 3Y Fixed Home Loan | New Rate 2.98% | New Comparison Rate* 4.06%
Straightforward Home Loan | New Rate 3.09% | New Comparison Rate* 3.12%
First Home Loan – 1 Year Intro Rate | New Rate 3.19% | New Comparison Rate* 3.68%
Flexi Fixed Rate 1 Y | New Rate 3.19% | New Comparison Rate* 4.32%
Flexi Fixed Rate 2 Y | New Rate 3.29% | New Comparison Rate* 4.23%
Flexi Fixed Rate 3 Y | New Rate 3.39% | New Comparison Rate* 4.17%
Investment Lockit 1 Y | New Rate 3.19% | New Comparison Rate* 4.90%
Investment Lockit 3 Y | New Rate 3.39% | New Comparison Rate* 4.64%
Lockit Fixed Rate 5 Y | New Rate 3.79% | New Comparison Rate* 4.18%
If you have any questions regarding this change, 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 23/08/2019 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.
