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.

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan