Greater Building Society cuts one-year fixed-rate home loan to 4.54%

 The Greater Building Society will cut its one-year fixed home loan rate by 0.20% from tomorrow (June 21).

The Greater’s one year packaged home loan (ultimate home loan) will reduce to 4.54% (comparison rate of 5.49%) - one of the lowest one-year fixed-rates on offer. 

Product manager David Bryde said the new rate is the lowest one year rate for a home loan that the Greater has ever offered.

Bryde said people taking out fixed-rate loans should ensure that they don’t unnecessarily sacrifice flexibility or fall victim to the “revert rate rort”. 

“With the Greater you get an incredibly low rate but can still make extra payments and redraws," Bryde said.