ANZ has dropped some of its fixed and special home loan interest rates.
Effective on Tuesday, the bank has cut its one-year fixed rate special to 4.79%, the lowest the rate has been since June 2022.
It also cut the six-month fixed rate special to 5.14% and its two-year fixed rate special dropped to 4.89%
The 18-month fixed rate special was also cut to 4.79%, and the three year special fixed rate was left unchanged.
Special rates at ANZ are available to customers with a minimum of 20% equity and an ANZ transaction account with salary direct credited.
Standard rates were also adjusted at ANZ.
Its six month rate is now 5.74%, the one-year and 18-month rates are now 5.39%, and the two-year rate is now 5.49%. The three-year, four-year, and five-year standard fixed rates were left unchanged.
ANZ managing director for personal banking, Grant Knuckey, said the changes would provide more relief for customers taking on new home loans – and for those that are due to refix – in what remains a challenging economic climate.
“The cuts provide another opportunity for borrowers not already on fixed rates to take advantage of the falling interest rate environment.
“For those who are considering locking in a fixed rate, this is something most existing ANZ customers can do themselves in GoMoney.”
Many term deposit rates were also dropped across the board, except for the three-year, four-year, and five-year rates, which were left unchanged.