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St George cuts standard variable

Staff Reporter 1 minute read

St George yesterday moved to reduce its rates by 21 basis points, in line with its peers.

The reduction brings St George’s standard variable rate to 8.36 per cent, effective 31 October.

Les Matheson, St George group executive of retail banking, said this latest reduction, “coupled with both the 0.80 per cent reduction announced less than two weeks ago and the 0.30 per cent reduction following the RBA’s 0.25 per cent reduction in September, will come as welcome relief for many Australian families".

“We believe this move reinforces St George’s commitment to remain highly competitive in the home loan market.”

Published: 22-10-08

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