The Reserve Bank of Australia sets the ‘cash’ interest rate, which is reviewed every month. Credit providers set their own rates and can choose to increase or decrease the rates in line with the cash rate, the graphs below show historically say from January 2002 through to our current ‘cash rate’ 2.50% how these have moved in line with the economy. The std variable rate sits at around 5.91% but there are discounts to entice borrowers, these can depend on many factors such as loan size and lending ratios and lenders appetites for particular business, all of which we will address on your behalf to find the right loan for you. A normal rate now is under 5% so let us investigate your options. IT COSTS NOTHING FOR US TO LOOK INTO THIS You will notice in the graph’s below how the cash rates have moved over the years-only was it in Jan 2009 and we were paying 9% but post GFC rates have consistently come down. THE SECRET TO PAYING DEBT IS WHEN RATES ARE LOW You will notice a lot of media activity at the moment from the lenders, social media press and TV around what you should do with your interest rate. We believe at Australian Finance Centre that everyone is different and we are happy to look at everyone’s circumstance individually as this is not a one shoe that fits all situations. Read more by clicking the link below: australianfinancecentre.au/secret-paying-debt/
Posted on: Mon, 23 Sep 2013 02:47:41 +0000
Trending Topics
Recently Viewed Topics
© 2015