IMB has reduced its variable Budget Home Loan by five basis points to 4.98% (comparison rate 5.12%).

The cut applies only to loan amounts less than 90% of the property value.

For loan amounts greater than 90% of the property value, the variable Budget Home Loan has remained steady on 5.18% (comparison rate 5.32%).

The interest rates changes are effective from Monday, 9 September.

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