How much of the DEC RBA cut is each bank passing?

Posted Wednesday, 14 December 2011 at 14:13 by William Mansfield
Tagged: interest rates
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A list of the top banks and amount of the DEC RBA rate cut they are passing on and when?

The RBA announced the cash rate would be cut by 25 basis points on Tuesday 6th Dec. http://www.shapehomeloans.com.au/blog/rba-cut-s-cash-rate-by-0-25-2011120669

***Note: Most rate decrease only applies to their standard variable range product.

Banks and Tier 2 Lenders	Rate Cut	Effective date	New SV-Rate
Adelaide Bank/	-0.25%	18th Dec	7.05%
AMP	-0.25%	19th Dec	7.32%
ANZ	-0.25%	16th Dec	7.30%
Bank of Queensland ( BOQ) / Bendigo Bank	-0.25%	16th Dec	7.36%
Citibank	-0.25%	19th Dec	7.52%
Commonwealth Bank	-0.25%	19th Dec	7.31%
Connective Home Loans	-0.25%	18th Dec	7.53%
Homeside Lending	-0.25%	16th Dec	7.20%
ING Bank	-0.25%	13th Dec	-
Member equity bank ( ME)	-0.25%	16th Dec	7.19%
Macqauire Bank	-0.25%	18 Dec	7.30%
NAB	-0.20%	16 Dec	7.22%
St George Bank / Bank of Melbourne/ Bank SA	-0.25%	19th Dec	7.30%
Suncorp Bank	-0.25%	19th Dec	7.33%
Westpac	-0.25%	19th Dec	7.36%

NOTE: Each client will receive their Personalized Quarterly report from their broker by the end of this week;

1. What your bank's new rate and News

2. Details on the product your currently on

3. Your overall file

4. Your on "target" expectation

5. What's happening at Shape for 2012

6. Market overview- State by State

7. Contacts