HSBC lowers its fixed rates
Wednesday, November 9th 2011, 8:59AM
HSBC has dropped its two, three, four and five year fixed home loan rates. Its new two year rate is 5.87% - a reduction of 23 basis points and a market leading rate among major banks. See how it compares here
The three year rate is down 10 points to 6.40%. the four year rate is down 25 points and the five year rate is down 15 to 7.20%.
In addition to dropping the fixed home loan rates, HSBC is still offering customers the ability to further reduce any of their fixed home loan rates by up to 1%p.a. by taking out certain insurances with the bank.
However to get these rates you have to be an HSBC Premier customer with either a minimum combined home loan of $500,000 or $100,000 in savings and investments.
Yesterday we noted that SBS's new rates were sharpest in the two-year term. It has strengthened that position with a special of 5.65% This applies to only residential lending that is within 80% LVR and the member has full banking with SBS/HBS.
SBS rate changes apply to its subsidiary HBS.
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