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ISCOVER
Staff Reporter
Heritage has become the latest lender to jump on the fixed rate bandwagon, slashing up to 34 basis points from its fixed rate products.
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Effective from today, the lender will reduce the interest rate on its one year fixed rate home loan from 6.19 per cent to 5.90 per cent; its two year fixed rate from 6.25 per cent to 5.95 per cent; and its three year fixed rate from 6.29 per cent to 5.95 per cent.
Heritage Bank chief executive John Minz said the interest rate reductions reinforced Heritage's continued focus on delivering the best rates possible for members.
"Heritage's People first philosophy remains the driver for the way we do business," Mr Minz said.
Heritage is now Australia's largest customer-owned bank, after changing its name from Heritage Building Society on 1 December.
"We changed our name last week but not our values and our absolute focus on the best interests of our members," he said.
"Reducing the interest rates on our fixed rate home loans is all about making sure our members have access to some of the best deals available in the country."
