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St.George announces cut to standard variable home loan rate

St George Bank  6 December 2012

St.George Bank announced today that it will reduce its standard variable home loan rate by 0.20% to 6.49% per annum (effective from 17 December 2012).

St.George customers can access discounts of up to 0.95% off the standard variable home loan rate under its Advantage Package. These customers can also access further fee savings, as well as discounts on credit cards, home and contents insurance and BT Super for Life.

The reduction in home loan rates will save borrowers around $500 per year on an average mortgage of $250,000. Since September 2011, St.George has reduced its standard variable rate by 1.31%, equating to an annual saving of $3,275 on an average home loan.

General Manager St.George Retail Banking Andy Fell said that a rate cut will help support the Australian economy and keep it strong.

“When making decisions about interest rates, we need to balance the needs of our 1.75 million deposit customers with the needs of our 310,000 home loan customers.

“Many of our customers already take advantage of the discounts we offer off our standard variable home loan rate. I encourage customers to contact us and make sure they have the right home loan for their particular needs and that they’re taking advantage of all the benefits available to them,” said Andy Fell.

St.George also has a special offer in place until 21 December, 2012 where it will beat any home loan rate advertised by the four major banks on fixed or variable rates. The offer is available for new home loan customers, with a $1,000 rebate available to help customers cover the cost of purchasing their new home.

“Last month St.George Bank was announced as ‘Australia’s Best Home Loan provider’ in The Smart Investor SMILES Survey. The Survey recognises our ongoing commitment to delivering exceptional service and award winning home loan products. This special offer is further proof of our commitment to helping Australians fulfil their dream of home ownership and provides yet another reason why people should choose St.George for their home loan,” said Andy Fell.

Customers can also choose to split their home loan between fixed and variable rates, as well as a range of other flexible home loan options. St.George’s fixed home loan rates under its Advantage Package are currently 5.39% per annum (1 year), 5.29% per annum (2 years), 5.39% per annum (3 years) and 5.79% per annum (4 and 5 years).

For more information, or assistance and advice in relation to existing loans, customers can visit their local St.George branch, or call 13 33 30. St.George is a division of Westpac Group.

Last modified onTuesday, 28 May 2013 06:43

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