Adelaide Bank has reduced its One Year SmartFix fixed interest rate by 18 basis points to 4.69% (comparison rate 5.20%).

Your Mortgage’s home loan calculator shows the reduction will save first home owners about $41 a month for a loan of $400,000, on a loan term of 25 years, compared to the previous rate.

The new rate is effective from Friday, 11 October.

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker