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.

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