Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

HSBC fixed rates slashed by up to 130 bps

Staff Reporter 3 minute read

HSBC Bank Australia yesterday cut its fixed home lending rates by between 35 and 130 basis points.

The biggest reduction was to the bank’s promotional three-year fixed rate for new customers to 7.99 per cent – the lowest on the market, according to HSBC’s head of home loans John Lane.

Mr Lane said a fall in the cost of funds and HSBC’s strong position had allowed the bank to make the reductions.

“Recent weeks have seen a significant reduction in the medium and long-term cost of fixed rate funds in the commercial market,” he said.

Advertisement
Advertisement

The bank’s standard fixed rates for one, two and three-year loans were also cut to 8.99 per cent while four and five-year rates were reduced to 8.90 per cent.

Published: 19-08-08 

Related Articles

ANZ cuts fixed rates by up to 50 bps; 11-08-08

Do you expect fixed rates to fall further? Comment here

PROMOTED CONTENT


HSBC fixed rates slashed by up to 130 bps
default
TheAdviser logo
default

 

more from the adviser
digital home ta Heritage to introduce new origination platform

The non-major bank has teamed up with a credit reporting firm to ...

woman financia counselling ta SA offers free financial counselling to women

At-risk women living in SA will be given access to free financial...

Sam Carrello bc64 WA broker reveals his top tips for hiring staff

Napoleon Finance broker and director Sam Carello has revealed his...

FROM THE WEB