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

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