ANZ Leads Market With Home Loan Interest Cuts

Tuesday, 20 March 2001, 10:37 am
Press Release: ANZ Bank

Monday 19 March

ANZ Leads Market With Further Home Loan Interest Cuts

ANZ today announced further decreases to its fixed rate home loans.

The latest decreases are more good news for the Bank's customers who benefited from both variable and fixed rate cuts last week.

The fixed home loan rates will decrease from Tuesday 20 March, as follows:

* One year fixed rate decreases from 6.99% per annum to 6.85% per
annum
* Two year fixed rate decreases from 7.15% per annum to 6.99% per
annum
* Three year fixed rate decreases from 7.20% per annum to 7.10% per
annum
* Four year fixed rate decreases from 7.40% per annum to 7.30% per
annum
* Five year fixed rate decreases from 7.50% per annum to 7.40% per annum

These changes place ANZ's home loan rates amongst the lowest available in the market.

ANZ Managing Director, Dr Murray Horn, says the reductions are a reflection of the Bank's commitment to passing on to its customers the savings made from the recent decline in wholesale interest rates.

ENDS

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