National Australia Bank has cut its one-to-five-year fixed home loan rates to record low levels.
NAB today announced it had cut its one, two, three and five-year package fixed home loan rates by 0.30%, 0.25%, 0.25% and 0.40% respectively.
Gavin Slater, Group Executive Personal Banking, said the cuts meant NAB was offering its lowest fixed home loan rates ever across its one, two, three, four and five-year package terms.
“This is the fifth time in the past year that NAB has cut its fixed home loan rates, with the one, two, three, four and five-year terms now the lowest we have ever offered,” he said.
“NAB’s track record on competition speaks for itself and we’re committed to offering customers great products and service. Today’s announcement again demonstrates that commitment.
“Today represents another opportunity for customers who are looking for certainty in their repayments to apply for one of our record low fixed rate loans,” he said.
The new fixed home loan rates are available through a NAB banker today.
NAB’s new packaged principal and interest fixed home loan rates as at 9 February 2014
|Fixed rate term||Rate change||New rate|
|One-year||-0.30% p.a.||4.49% p.a.|
|Two-year||-0.25% p.a.||4.59% p.a.|
|Three-year||-0.25% p.a.||4.69% p.a.|
|Five-year||-0.40% p.a.||4.59% p.a.|