Rate decision – 20 March 2020

ANZ announced today it will decrease variable interest home loan rates in Australia. Effective 27 March 2020, ANZ will reduce variable interest rates for home, residential investment and line of credit loans by 0.15% p.a. ANZ has also announced changes to a fixed rate at the time of this statement, for more information please see ANZ’s media release.

How will this affect my repayments?

To help customers get ahead of their repayments, ANZ will not automatically reduce the minimum repayment you make on your loan. This means your actual repayments will stay the same but the minimum repayment you are required to pay reduces, which results in you paying off more of the loan principal with each repayment.

However, if you'd like to change your repayment amount, you can do so after 27 March 2020. This can be done online through ANZ internet banking or by contacting ANZ. If you would like to see an estimate of what you could reduce your repayments to, please check the Repayments Calculator.

Below is a summary of the changes that will be effective on 27 March 2020.