Just three lenders offering 4-year fixed rates under 2 per cent, down from 25

Just three lenders are now offering 4-year fixed rates under 2 per cent, down from 25 at the start of the year.

Just three lenders offering 4-year fixed rates under 2 per cent, down from 25
Just three lenders offering 4-year fixed rates under 2 per cent, down from 25

Australia’s fourth largest lender, NAB, has today hiked its four-and five-year fixed rates by up to 0.25 per cent.

It followed similar moves from CBA and Westpac.
 
NAB was the last of the big banks to have a 4- year fixed rate under 2 per cent. 

Its lowest four-year rate has risen from 1.98 per cent to 2.19 per cent.
 
RateCity.com.au database analysis reveals just three lenders are now offering 4-year fixed rates under 2 per cent, down from 25 at the start of the year.

30 lenders have hiked at least one 4-year fixed rate in the last two months.

Other lenders to hike 4-year rates in the last week include Macquarie Bank, QBank and TicToc.
 
RateCity.com.au research director, Sally Tindall, said the NAB move means there are now no big banks offering four-year rates under 2 per cent.

"Now there’s just three, and they’re probably not going to keep these rates long,” she said.

The 1.95% rate is the lowest 4-year fixed rate from BankVic.
 
The other lenders offering at least one 4-year fixed rate under 2% are Illawarra Credit Union: 1.99% and ING: 1.99%.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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