Greater Bank is offering the lowest one-year fixed rate home loan in the market after announcing today it will reduce the one-year owner occupied rates by 0.50%. This means new borrowers can pay just 2.99%p.a.
Greater has cut a broad range of fixed rates for new and existing borrowers and leads the market in several of the fixed rate loan terms. The new fixed rates all take effect today (June 3rd)
“As a customer-owned bank, we don’t have shareholders which allows us to redirect funds to directly benefit our customers. This is why we are in a position to offer the most affordable one-year fixed rate home loan in the market,” Greater Bank CEO Scott Morgan said.
“This will ensure we remain very competitive against the industry’s major players in this fixed loan market.
“These are the lowest fixed term rates I have seen in my time in the banking sector and the perfect opportunity for new and existing customers to look at their current financial position and considering fixing their home loan"