The Capricornian Cuts Home Loan Variable Interest Rates
Posted on June 7th, 2019
On Tuesday 4th June 2019 the Reserve Bank cut the official cash rate to a record low of 1.25%. In light of this decision, The Capricornian has reviewed its lending and deposit interest rates. Following the review, TCL is pleased to announce that they will reduce the majority of their variable owner occupied and investment lending rates by up to 0.25%.
Chief Executive Officer Dale Grounds said ‘This process is always complex due to balancing the needs of our members who deposit and those who borrow. We believe that we have reached a sensible compromise for all our members.’
The new interest rates will take effect from 10 June 2019 for all new loans, with existing loans changing from 1 July 2019.
- Owner Occupied Principal and Interest Standard Variable Rate home loan cut by 0.25% to 5.03%
- Investor Principal and Interest Standard Variable Rate home loan cut by 0.25% to 5.55%