Citibank Australia has released lower promotional interest rates for new home loan applications received by 2 January 2015.

The bank’s Standard Variable and Standard Variable Offset rates for the Mortgage Plus – Professional Package were adjusted to 4.68% (from 4.87%) for LVR less than or equal to 80%. The comparison rate dropped from 5.22% to 5.03%.

Loans with LVR between 80.01% and 90% (with LMI)^ are up from 4.99% to 5.19%, while loans with LVR less than or equal to 80% have a rate of 5.04%.

For loan applications amounting to more than $500,000, the promotional rate for LVR less than or equal to 80% is 4.68% from 4.83%, with a comparison rate of 5.03%. Loans with LVR between 80.01% and 90% (with LMI)^ are at 5.09% from 5.34%, while loans with LVR less than or equal to 80% are at 4.99% from 5.29%.
 
  Loan amount $150,000 - <$500,000 Loan amount > $500,000
Standard Variable / Standard Variable Offset Interest rate Comparison rate Interest rate Comparison rate
Promotional rate
LVR less than or equal to 80%		 4.68% 5.03% 4.68% 5.03%
LVR between 80.01% to 90% (with LMI)^ 5.1% n/a 5.09% n/a
LVR less than equal to 80% 5.04% n/a 4.99% n/a

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