St George has decreased the interest rate on some of its home loan products.
The
interest rate on St George Advantage Package loans has been discounted by the organisation.
A reduction of 0.15 per cent per annum – which will become apparent on Friday June 4th - leaves the new level at 6.99 per cent, which is applicable on loans of $150,000 or more.
Greg Bartlett, chief executive of the organisation – which offers St George term deposits – said home loan customers might be pleased with the rate decrease.
He added: "St George offers customers Australia's widest range of home loans, with a number of flexible features, including the ability to split loans between fixed and variable rates."
Those who are looking to borrow could be interested in the product as it now represents better value than before, according to Mr Bartlett.
Last month, the bank – which has a range of
St George savings accounts – announced mortgage lending was up 15 per cent in the half year from September 2009 to March 2010.
By Emma North
