Interest Rates Comparing the Interest Rates of Australia’s Major Banks.

Interest Rates

Comparing the Interest Rates of Australia’s Major Banks

ANZAustralia 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.

• Average rate is approximately 20.74% for purchases.

Home Loans

Fixed Rate• Begins at 6.84%pa and is

8.51%pa for 10 years.• 1 to 5, 7 and 10 year fixed

rate terms available.

Variable Rate• 7.41%pa is the current rate

for variable.• Loan term can reach a

maximum of 30 years.

Personal Loans

Personal Loan• Variable and fixed rate

available.• Loan term spans 1 to 7

years.• Borrow $5,000 minimum.

Car Loan• Loan term spans 1 to 5

years.• Amount of finance must

exceed $7,500.

Commonwealth Bank

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 Loans

Fixed Rate• 1 to 5,7,10 or 15 year terms

available.• Rates begin at 7.09%pa and

reach 8.54% with 15 years.

Variable Rate• Loan term may reach 30

years.• Standard variable rate is

currently 7.36%pa.• Base variable rate is

currently 6.85%pa.

Personal Loans

Personal Loan• All personal loans have an

interest rate from 15.24%pa fixed and from 14.90%pa variable.

Car Loan• (Information in left hand

column)

NABNational Australian

Bank

Credit Cards

• Standard card has rate of 19.49%pa on purchases.

• Low rate Visa cards have rate of 13.24% on purchases.

Home Loans

Fixed Loans Variable Loans

Personal Loans

Personal Loan Car Loan• Fixed rate ranges from

15.80% to 16.65%• Variable rate ranges from

14.90% to 15.75%.

WestpacWestern Pacific Banking

Credit Card

• Most credit cards from Westpac have an interest rate of 19.64%pa.

Home Loans

Fixed Rate• 1 to 5, 7 and 10 year terms

available.• Interest rate is 6.84%pa.

Variable Rate• Range of variable options.• Variable rate is 6.81%pa for

basic home loan.

Personal Loans

Personal Loans• Personal Loans carry an

interest rate of 14.64%pa.

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.

Wizard

Credit Cards

• Interest rate of 12.99%pa.

Home Loans

Fixed Rate• Standard fixed rate ranges

from 6.64% to 7.79%pa.• Loan must range from

$50,000 to $100,000.

Variable Rate• Variable rates range from

7.19% to 7.36%pa.• Loans must range from

$100,000 to $350,000.

Personal Loans

Personal Loans• 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.

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.