ME Bank has cut its one-year fixed standard home loan for members from 5.09% to 4.94% (comparison rate 5.36%).
Your Mortgage’s Home Loan calculator shows the 0.15% drop will save customers about $17 a month for a loan of $200,000 on a loan term of 20 years, compared to the previous rate.
The bank also dropped its one-year fixed standard home loan offer to non-members by 15 basis points to 5.44% (comparison rate 5.82%).
The changes are effective from Wednesday, 28 August.
Collections: Mortgage News