Colonial National Bank reduces rates further

Colonial National Bank has reduced its interest rates further.

The bank's business banking base rate has reduced by 0.5% from 11.70% to 11.20%.

Interest rates for residential property loans have already reduced by 0.5% with the variable rate now at 11.50%. The rates for investment property loans have also fallen by the same margin.

Term deposit rates have also fallen by a similar margin.

Please refer to the other entry on this blog today for details on the actual interest rates charged by Colonial National Bank.