ANZ sticks to 6.4% standard variable rate

ANZ have announced that its standard variable home loan interest rate will remain unchanged at 6.4% per annum after their monthly interest rate review today.

 It follows the RBA announcing at its April meeting that it would keep the cash rate steady at 3%.

The Big Four have all continued to maintain roughly similiar rates with NAB still the lowest of the four at 6.38%, followed by Commonwealth Bank and ANZ at 6.40%.

Westpac has a standard variable rate of 6.51%.

All four banks reduced their standard variable interest rates in December last year following the Reserve Bank of Australia cutting its cash rate the same month by 25 basis points to 3%.