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Goldfields Money will lower its standard variable rate for home owners by 0.25%pa from 23 May 2016, following the Reserve Bank decision to reduce the official cash rate earlier this month.
“The change will see Goldfields Money offer the lowest variable rate ever on owner occupied home loans, meaning customers benefit by being able repay their home loan sooner. It is also a great time for customers who are thinking about buying their first home, upgrading to a new property or buying another property,” said Goldfields Money CEO Simon Lyons.
“In addition to lowering the variable rate home loans, Goldfields Money has also lowered its fixed rate home loans. Our competitive rates will give our customers the option to decide on whether they want to lock in a low rate for a fixed term and they can do this for part of their loan or the whole loan.”
The interest rate on commercial loans will also be reduced 0.25%. The change will be effective 23 May 2016.