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BankDirect Drops Variable Rates

BankDirect Drops Variable Rates

Responding to today’s official cash rate reduction from the Reserve Bank, BankDirect has announced drops to both its Variable and FlexiLoan interest rate.

Old Variable / FlexiLoan Rate 7.30% New Variable / FlexiLoan Rate 6.99%

"At 6.99% p.a. our new Variable rates (in conjunction with low fixed rates) offer even more affordable lending opportunities to home owners and residential property investors," says Head of BankDirect, Kevin Leith.

"BankDirect’s interest rate has been consistently 30 points less than the five big banks (ANZ, ASB Bank, BNZ, National Bank and Westpac), offering mortgage seekers or those seeking to refinance with significant interest savings.”

The new rates take effect immediately for new customers and on Monday 30th June for existing BankDirect mortgage holders.

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