Citibank has cut its four and five-year fixed rate home loans by 40bp.

Four-year fixed rate loans now sit at 5.39% and five-year loans at 5.59%.

The non-major also cut its three-year fixed rate by 19bp, bringing it down to 4.99%.

The bank’s two-year fixed rate has now been reduced by 20bp to 4.79%, and its one-year rate is now 25bp lower at 4.74%.

Your Mortgage’s home loan calculator shows the reduction on the five-year loan will save mortgage holders about $97 a month for a loan of $400,000 on a loan term of 25 years, compared to the previous rate.

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