Westpac, ING Direct, ME Bank Interest Rate Announcements

After the Reserve Bank of Australia decided to reduce variable interest rates by 0.25% on Tuesday these lenders are also reducing their home loan and investment loan variable interest rates.

Westpac like the NAB and the Commonwealth Bank decided not to pass on the full interest rate cut and reduced their variable home loan and investment loan rates by 0.22% effective 18th May.

ME Bank will reduce their variable interest rates by 0.25% effective 22nd May 2015. You can compare ME Bank variable loans

ING Direct also announced that it will be reducing their interest rates for residential and commercial property loans by 0.25% on the 18th May. You can compare ING Direct home loans here

To see how other lenders are responding and the dates they will reduce their rates – Lender interest rate reduction and date

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