The Greater Building Society today announced that it will pass on the increase in official interest rates by the Reserve Bank of Australia.
The Greater’s standard variable home loan rate will increase by 25 basis points (0.25%) to 6.05%. Its basic home loan will rise to 5.69%.
The new rate is effective from tomorrow (November 5) for new borrowers and from November 15, 2009 for existing borrowers.
The Greater’s standard variable home loan rate remains lower than that of the major banks.
Media information: Craig Eardley, ChurchComm, on 0437 477 493 or visit www.greater.com.au
