Commonwealth Bank and interest rates

[mfsperth]

The federal Treasurer is concerned that CBA is not passing on RBA interest rate drops. But it is. It advertised last Monday term deposits at 8.0% and by Thursday when the bank was visited to take up the offer it was 7.8%!

 

[dhukka]

Re: Commonwealth Bank

The federal Treasurer is concerned that CBA is not passing on RBA interest rate drops. But it is. It advertised last Monday term deposits at 8.0% and by Thursday when the bank was visited to take up the offer it was 7.8%!

Interesting that CBA is passing on RBA interest rate cuts. Especially since the RBA hasn't cut interest rates since November 2001. A lag perhaps?

 

[prawn_86]

Re: Commonwealth Bank

Its cutting rates on deposits not on borrowings.

I wish there was a way that the average person didnt need to rely on banks...

 

[alleyronin]

Re: Commonwealth Bank

When it seeks approval to take over BankWest I'm sure Mr Swan will have a quiet whisper in Norris's ear about toeing the line re RBA rate cuts

 

[Flipper15]

Re: Commonwealth Bank

Hi all

The CBA cut all its fixed home/investment rates about a week ago by 0.25%after (from memory) ANZ cut its fixed rates.

Go onto their website under $ Rates, fees & charges then half way down click Home Loans then Complete. About a week ago their 1 year fixed was 9.60% and the 15 year was 9.30%.

Having said that they had jacked them up a lot in the previous 6 months.

Hopefully there is more drops to come in the next few weeks/months.

Flipper