HSBC lowers its fixed rates

HSBC lowers its fixed rates

Mortgage Rates

HSBC has dropped its two, three, four and five year fixed home loan rates. Its new two year rate is 5.87% - a reduction of 23 basis points and a market leading rate among major banks. See how it compares here

The three year rate is down 10 points to 6.40%. the four year rate is down 25 points and the five year rate is down 15 to 7.20%.

In addition to dropping the fixed home loan rates, HSBC is still offering customers the ability to further reduce any of their fixed home loan rates by up to 1%p.a. by taking out certain insurances with the bank.

However to get these rates you have to be an HSBC Premier customer with either a minimum combined home loan of $500,000 or $100,000 in savings and investments.

Yesterday we noted that SBS's new rates were sharpest in the two-year term. It has strengthened that position with a special of 5.65% This applies to only residential lending that is within 80% LVR and the member has full banking with SBS/HBS.

SBS rate changes apply to its subsidiary HBS.

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