Interest Rate Rises and Refinancing

Interest rate increases have been well documented in the media with the RBA increasing the cash rate by another 0.50% on Tuesday. When rates increase, your current home loan can become an older product and you may find you don’t have a competitive rate anymore.

However, with increased rates comes opportunity to take a pulse check on your current loans.

Banks are constantly trying the get customers to refinance, so they often have special rates and cash back bonus’s. It is important to look at your current interest rates every 1-2 years an see if there are any better loans out there.

Curerntly we are still seeing variable rates as low as 3.2%

Some current cash back offers are:

Bank Cash Back Offer Expiry
AMP $5,000 31 August
ANZ 300,000 Qantas Frequent Flyers 19 August
Bank Of Melbourne $4,000 31 July
Bankwest $2,000 Next year
CBA $2,000 31 December
ING $3,000 31 July
ME $2,500 31 August
NAB $2,000 No expiry
Westpac $3,000 31 July

Please contact the Gild Finance team if you would like to discuss your current interest rate and maybe the opportunity to move your loan and save money.