Greater Building Society cuts one-year fixed home loan to 4.99%
The Greater Building Society has cut its one year fixed-rate packaged home loan by 30 basis points to 4.99%.
This is the only home loan offering currently below 5% and the first time a home loan from The Greater had been under 5% since July 2009.
The mutual lender has also cut its three and five year fixed-rates by 15 points to 5.34% and 5.54% respectively.
Product manager David Bryde says this gives The Greater the lowest home loan rate in Australia.
The new rates are effective tomorrow and open to both new and existing customers.
The new fixed rates are offered as part of The Greater’s Ultimate Home Loan home loan package which includes a fee free transaction account, discounted insurance, financial planning, and a linked credit card with waived annual fee.
Current cheapest one-year fixed rate loans
| 1 year fixed rates | ||
| Provider | Product | Rate % |
| Greater Building Society | Fixed Rate Home Loan (Ultimate Home Loan Package) | 4.99 |
| My Mortgage Freedom | Fixed Rate (LVR 75%-90%) | 5.09 |
| QT Mutual Bank | Fixed Rate (Choices) | 5.29 |
| Greater Building Society | Fixed Great Rate Home Loan | 5.34 |
| Morgan Brooks Direct | Fixed Rate Home Loan | 5.34 |
| NAB | Tailored Home Loan (Choice Package) | 5.34 |
Source: Mozo