St George yesterday concluded the major banks’ response to this month’s rate cut by passing on a reduction of 0.62 per cent.
The reduction will bring the bank’s standard variable home loan rate to 7.74 per cent – in line with CBA, NAB and ANZ.
Westpac, St George’s soon-to-be parent, will have the lowest bank rate available at 7.71 per cent.
Meanwhile non-bank lender RAMS Home Loans today undercut all of the big banks by reducing its standard variable rate to 7.59 per cent.
The new rate will be effective Monday 10 November.
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