Given the outlook for interest rates it is worth having a quick look at what lenders are currently charging for variable rate loans.
Source: Star Ratings
On the other side, savers can expect to receive the following interest on term deposits.
|5 Years||2 Years||1 Year||180D|
|4.55||4.00||3.45||3.35||St George VIC|
As can be seen lenders’ rates are historically quite low. For savers rates have dropped off, although they are within the region of where official interest rates currently sit.
No matter whether you are an investor or you have borrowed funds, the current economic climate provides a great opportunity to review and revise your strategy.
The numbers provided are for general information only and are not financial advice. The current features, rates and fees are displayed in the table and may be different to what was rated.
For further information please contact Nick Stratus from Solid Financial Advisers on (03) 9500 8000