In an effort to encourage customers considering buying their first home or upgrading the existing home, ANZ Bank has announced further reduction in interest rates in some lending products.
The General Manager of ANZ, Robert Bell said the one year fixed Home Loan rates will reduce to 7.75% while the Business Loan, Variable Home Loan and Variable Property Investment Loan rates will reduce by 0.25% from 1st April.
Bell said the reductions will be welcomed by customers as investment remains lower than ANZ would like to see it. He said further rate reductions in the near future now seem unlikely.
According to Bell when compared with banks in Australia and New Zealand, interest rates have been rising.
ANZ Bank announces interest rates reduction
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