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. • Average rate is approximately 20.74% for purchases.
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 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 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 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 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.
NAB National 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%.
Westpac Western Pacific Banking
Credit Card • Most credit cards from Westpac have an interest rate of 19.64%pa.
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 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 Cards • Interest rate of 12.99%pa.
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 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.