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Interest Rates. Comparing the Interest Rates of Australia’s Major Banks. ANZ. Australia and New Zealand Banking. Credit Cards. ANZ provides and extensive range of credit card options. Some options (‘low interest rate’) have a 0.0% pa rate on balances for 6 months.

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Presentation Transcript
interest rates

Interest Rates

Comparing the Interest Rates of Australia’s Major Banks

slide2

ANZ

Australia and New Zealand Banking

credit cards
Credit Cards
  • ANZ provides and extensive range of credit card options.
  • Some options (‘low interest rate’) have a 0.0% pa rate on balances for 6 months.
  • Average rate is approximately 20.74% for purchases.
home loans
Home Loans

Fixed Rate

Variable Rate

7.41%pa is the current rate for variable.

Loan term can reach a maximum of 30 years.

  • Begins at 6.84%pa and is 8.51%pa for 10 years.
  • 1 to 5, 7 and 10 year fixed rate terms available.
personal loans
Personal Loans

Personal Loan

Car Loan

Loan term spans 1 to 5 years.

Amount of finance must exceed $7,500.

  • Variable and fixed rate available.
  • Loan term spans 1 to 7 years.
  • Borrow $5,000 minimum.
credit cards1
Credit Cards
  • Low-rate cards have rate of 13.24%pa.
  • Other cards have rate of 20.49% on purchases.
  • Student card offers rate of 19.99%
home loans1
Home Loans

Fixed Rate

Variable Rate

Loan term may reach 30 years.

Standard variable rate is currently 7.36%pa.

Base variable rate is currently 6.85%pa.

  • 1 to 5,7,10 or 15 year terms available.
  • Rates begin at 7.09%pa and reach 8.54% with 15 years.
personal loans1
Personal Loans

Personal Loan

Car Loan

(Information in left hand column)

  • All personal loans have an interest rate from 15.24%pa fixed and from 14.90%pa variable.
slide10

NAB

National Australian Bank

credit cards2
Credit Cards
  • Standard card has rate of 19.49%pa on purchases.
  • Low rate Visa cards have rate of 13.24% on purchases.
home loans2
Home Loans

Fixed Loans

Variable Loans

personal loans2
Personal Loans

Personal Loan

Car Loan

Fixed rate ranges from 15.80% to 16.65%

Variable rate ranges from 14.90% to 15.75%.

westpac

Westpac

Western Pacific Banking

credit card
Credit Card
  • Most credit cards from Westpac have an interest rate of 19.64%pa.
home loans3
Home Loans

Fixed Rate

Variable Rate

Range of variable options.

Variable rate is 6.81%pa for basic home loan.

  • 1 to 5, 7 and 10 year terms available.
  • Interest rate is 6.84%pa.
personal loans3
Personal Loans

Personal Loans

Car Loan

New cars have an interest rate ranging from 11.49% to 12.99%pa.

Used cars range from 11.99% to 13.99%pa.

  • Personal Loans carry an interest rate of 14.64%pa.
credit cards3
Credit Cards
  • Interest rate of 12.99%pa.
home loans4
Home Loans

Fixed Rate

Variable Rate

Variable rates range from 7.19% to 7.36%pa.

Loans must range from $100,000 to $350,000.

  • Standard fixed rate ranges from 6.64% to 7.79%pa.
  • Loan must range from $50,000 to $100,000.
personal loans4
Personal Loans

Personal Loans

Car Loans

Car rates start at 13.49%pa, this is also a fixed rate.

Recommended borrowing amount is less than $3,000.

Repayments may be made monthly, fortnightly or weekly.

  • Loan rates start at 14.49%pa, and this is a fixed rate.
  • Recommended borrowing amount is less than $3,000.
  • Repayments may be made monthly, fortnightly or weekly.
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