ANZ today announced a five basis point reduction in variable interest rates for customers paying principal and interest on their home loans, taking the bank’s standard variable rate for owner-occupiers to the lowest of major banks at 5.20% p.a. (a reduction of 0.05%).

Customers with an investor loan paying principal and interest will also benefit from a 0.05% reduction on their standard variable rates. Variable interest-only home loan rates for investors and owner-occupiers will increase 0.30%  in response to regulatory and market conditions.

These changes will be effective 16 June 2017.

For more details about this announcement, please visit ANZ’s website here.