CBA guarantees lower interest than top three competitors
(13 September 2011 – Australia) The Commonwealth Bank of Australia (CBA) revealed yesterday it has raised the bar in competition to win new home loan customers – the bank is guaranteeing to beat any advertised interest rate from its three major competitors ANZ, National Australia Bank (NAB) and Westpac.
This latest announcement follows the Bank’s decision last week to drop their interest rates by up to 0.16 percent for one and three year fixed package interest rate home loans.
The Commonwealth Bank’s Home Loan Guarantee will be available until the end of September to new customers who borrow a minimum of A$100,000, as well as existing customers who take out new borrowings of A$100,000 or more.
Michael Cant, Executive General Manager Retail Products said this latest offer by the Bank was further evidence of the Commonwealth Banks ongoing commitment to providing its customers with great home loan deals.
"Buying a home is already a complicated and involved process, and we believe finding the best interest rate shouldn’t add to that."
'Our interest rates are already amongst the lowest in market, and our guarantee to beat our major competitors, means we’re putting our money where our mouth is."
Throughout the traditional spring home buying season, Commonwealth Bank will be talking directly to customers to share with them tips on how to save money and reduce the term of their loans.
"We don’t just want to offer people the best deal, we want to equip them with the know-how, so they are saving money, and in the process own their home sooner," Mr Cant added.
The Commonwealth Bank’s Home Loan Guarantee will be available until the end of September to new customers who borrow a minimum of A$100,000, as well as existing customers who take out new borrowings of A$100,000 or more.
Michael Cant, Executive General Manager Retail Products said this latest offer by the Bank was further evidence of the Commonwealth Banks ongoing commitment to providing its customers with great home loan deals.
"Buying a home is already a complicated and involved process, and we believe finding the best interest rate shouldn’t add to that."
'Our interest rates are already amongst the lowest in market, and our guarantee to beat our major competitors, means we’re putting our money where our mouth is."
Throughout the traditional spring home buying season, Commonwealth Bank will be talking directly to customers to share with them tips on how to save money and reduce the term of their loans.
"We don’t just want to offer people the best deal, we want to equip them with the know-how, so they are saving money, and in the process own their home sooner," Mr Cant added.
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