Banks cut business rates 0.25%

Posted on 8/04/2009  

Westpac has cut 0.25 percentage points off its interest rates for business loans and credit cards, to apply from April 20. St George Bank has also cut its business and commercial lending rates by 25 basis points. However, the major banks have passed on little of the latest Reserve Bank interest rate reduction to mortgage customers: the NAB's standard variable rate is unchanged at 5.74%, while the Commonwealth Bank is lending at 5.64% and Westpac and ANZ both 5.81%.

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