For release: Thursday, 24 July 2003
ANZ drops home lending rates
ANZ's General Manager Mortgages, David Hamilton, today announced a decrease in variable home lending rates.
The ANZ Standard Variable Home Loan interest rate will decrease from 7.35% p.a. to 7.10% p.a. for new applications
received from Friday 25 July 2003 and for existing customers from Friday 22 August 2003.
In addition, ANZ's Easy Start introductory 12-month variable rate will decrease from 5.85% p.a. to 5.60% p.a. for new
customers. For existing ANZ Easy Start customers the current rate will also decrease by 0.25% p.a. The ANZ Money Saver
variable rate will also decrease from 6.75% p.a. to 6.50% p.a. These changes are also effective for new applications
received from Friday 25 July 2003 and for existing customers from Friday 22 August 2003.
The ANZ FlexiPlus home loan interest rate will decrease from 7.35% p.a. to 7.10% p.a. for both new and existing
customers from Friday 22 August 2003.
"We are pleased to be able to offer these lower home lending rates, which have been made possible by lower wholesale
interest rates following the Reserve Bank's rate cut announced this morning," said David Hamilton.
ENDS