Citibank Australia has released lower promotional interest rates for new home loan applications received by 2 January 2015.

The bank’s Standard Variable and Standard Variable Offset rates for the Mortgage Plus – Professional Package were adjusted to 4.68% (from 4.87%) for LVR less than or equal to 80%. The comparison rate dropped from 5.22% to 5.03%.

Loans with LVR between 80.01% and 90% (with LMI)^ are up from 4.99% to 5.19%, while loans with LVR less than or equal to 80% have a rate of 5.04%.

For loan applications amounting to more than $500,000, the promotional rate for LVR less than or equal to 80% is 4.68% from 4.83%, with a comparison rate of 5.03%. Loans with LVR between 80.01% and 90% (with LMI)^ are at 5.09% from 5.34%, while loans with LVR less than or equal to 80% are at 4.99% from 5.29%.
 
  Loan amount $150,000 - <$500,000 Loan amount > $500,000
Standard Variable / Standard Variable Offset Interest rate Comparison rate Interest rate Comparison rate
Promotional rate
LVR less than or equal to 80%
4.68% 5.03% 4.68% 5.03%
LVR between 80.01% to 90% (with LMI)^ 5.1% n/a 5.09% n/a
LVR less than equal to 80% 5.04% n/a 4.99% n/a

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now