St.George announces cut to standard variable home loan rate
Monday, 19 August 2013
St.George Bank announced today that it will reduce its standard variable home loan rate by 0.25% to 5.99% per annum (comparison rate 6.15% p.a.), effective from 19 August 2013.
This latest rate cut means borrowers will save an additional $625 per year on an average mortgage of $250,000 – this is on top of the $1550 per year they are already saving as a result of the rate cuts St.George has announced in the past 12 months.
Andy Fell, General Manager, St.George Retail Banking said: “Both variable and fixed home loan rates are at historic lows which makes now a good time for us to start a conversation with customers about how they can get a great deal and become home owners.”
Also, for a limited time St.George customers can access further discounts of up to 1.00% per annum off the standard variable home loan rate under Advantage Package. In addition to a reduced interest rate, Advantage Package customers can also access further fee savings, as well as discounts on credit cards, home and contents insurance and BT Super for Life.
Anyone who applies for a St.George home loan also receives a free property profile report for the property they are interested in buying and its location.