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Latest News
Interest Rates Cut 2 October 2012

At its meeting today, the Reserve Bank Board today announced it was reducing the cash rate by 25 basis points ( quarter of a % )

The official rate is now at 3.25%.

Whilst the official rate was reduced, we're watching closely what the banks do with their rates, as some of Australia's biggest lenders have decided to make changes to their rates regardless of official interest rate moves by the RBA.

What might this mean for you?

Have a look at the table below and see how this change may impact different loan amounts. Please remember that the official rate set by the RBA does not necessarily mirror interest rates offered by lenders. Please feel free to forward this onto family and friends who may also find today's table of interest.

Loan amount examples

Likely decrease in repayments

$150,000

$31.25 per month

$250,000

$52.08 per month

$350,000

$72.91 per month

$450,000

$93.75 per month

$550,000

$114.58 per month

$650,000

$135.41 per month