Bank passes on full rate cut

Bank passes on full rate cut

04 October 2012 by Steven Cross 0 comments

One of Australia’s banks has decided to pass on the Reserve Bank of Australia’s 25 basis point rate cut in full.

Moments ago, ING DIRECT announced it would pass on the full 25 basis point rate cut to its customers effective from Friday 12 October.

The lender’s most popular home loan product, the Mortgage Simplifier, will now boast an interest rate of 5.97 per cent.

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
REVEALED: The 10 best agents in Australia for 2017

For the first time ever, the top 10 agents in the REB Top 100 Agents ranking are revealed in this exclusive podcast. ...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
Do you have an industry update?