Lender

NAB product hits 20-year low

By Staff Reporter• Tuesday, 23 Apr 2013•2 min read

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Staff Reporter

National Australia Bank has cut its five-year fixed rate to a 20-year low.

According to Canstar, NAB cut 29 basis points from its five-year term to bring the rate to 5.55 per cent.

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As a result, NAB now boasts the cheapest five-year fixed interest rate of all the majors, with the Commonwealth Bank of Australia and Westpac both offering five-year fixed rate home loans at 5.69 per cent, while ANZ’s five-year fixed rate currently sits at 5.84 per cent.

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