Greater Great Rate (basic) Fixed Home Loan
1yr-6.29% p.a
2yr-6.45% p.a
3yr-6.65% p.a
4yr-6.85% p.a
5yr-6.94% p.a

The Greater Building Society has lowered all of its fixed home loan rates by as much as 40 basis points taking its one, four and five year rates below all of the major banks to what it believes are the lowest rates of their kind in the Australian mortgage marketplace.

The Greater’s Great Rate One Year Fixed Home loan is down 0.30% to 6.29% p.a. putting it almost one percent (0.90%) lower than Westpac, 0.30% lower than Commonwealth Bank and ANZ, and 0.40% lower than NAB’s rate. The four year rate is down 0.40% to 6.85% p.a.

Product manager David Bryde said that the Greater continues to take it up to the major banks offering Australian consumers a fair go through lower home loan interest rates.

“For people who want the certainty of fixed rates, there are alternatives to the major banks that also offer low fees and superior service,” Mr Bryde said.

“These lower fixed home loan rates are another reason why people should consider escaping from their bank, and it is easier to do than people think,” he said.

Mr Bryde also pointed out that, unlike some other competitors, customers taking out our Great Rate Fixed Rate home loans revert to its lower Great Rate Home Loan (basic variable) rate rather than the standard variable rate. The Greater’s basic home loan (Great Rate) is 6.94% (comparison 6.98%*).

The Greater’s five year fixed home loan already has a five star rating from Canstar Cannex.

Mr Bryde said for those wanting to stay with variable rates, the Greater’s standard variable rate of 7.30% is also lower than the major banks and those customers also receive a free holiday.

“The Greater also has low fees and no ongoing account keeping fees with most loans so the gap between us and the major banks in the all important comparison rates becomes even wider.”

The Greater Building Society offers a complete range of financial services to 250,000 members across NSW, South east Queensland and in Townsville. It was named Building Society of the Year in the 2011 Australian Banking and Finance Awards and is the current Building Society of the Year and Top 5 Home Lender nationally according to the latest 2010 Mozo People’s Choice Awards.

Media information: Craig Eardley on 0437 477 493 or www.greater.com.au