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Media Release

St.George cuts business and home loan interest rate

3 May 2016

St.George Bank today announced a reduction in its variable home loan (owner occupied) and residential investment property loan rates by 0.25%. It also announced a reduction in variable rate small business loans by 0.25%. The effective date is 23 May, 2016.

This will bring the headline owner occupier home loan variable rate to 5.44% per annum (comparison rate 5.61% per annum*) and the headline residential investment property variable rate to 5.69% per annum (comparison rate 5.85% per annum*).

Ross Miller, General Manager, St.George Retail Banking said: “Following the Reserve Bank of Australia’s decision to cut interest rates by 0.25% p.a, St.George will pass on the full rate cut to help more customers into their homes.

“With interest rates remaining at record lows now is a great time for home buyers, property investors, and those upgrading or refinancing their home loan to talk to St.George,” Mr Miller said.

For more information, or assistance and advice in relation to existing or new loans, customers can visit their local St.George branch, or call 13 33 30.

*Comparison rates are based on a loan of $150,000 over a term of 25 years.

NOTE: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Media contact:

Dianne Edwards
St.George Bank
M: 0412 623 014