Nurses First passes on interest rate cut

Nurses First announced today it would pass on the full interest rate cut of 0.25 per cent per annum on its variable home loan products, ahead of the major banks.

CEO Fred Huis said that Nurses First will once again follow the Reserve Bank in passing on the full interest rate change to its members.

Nurses First Easypay home loan will offer an interest rate of 6.78 per cent p.a, which is lower than the standard variable rate of each of the four major banks.

The no-frills Dream Home Loan will have a rate of just 6.49 per cent p.a and the lowest rate on the EasyPay Plus Loan would be 6.29 per cent p.a.

Mr Huis said that it pays to bank with a member-owned banking institution.

“We are owned by our members, not external shareholders, so we always put their interests first.

“Because we exist to serve our members, member-owned banking organisations can generally offer a better rate than the big banks.

“I’d recommend that if people are unhappy with the major banks then they should shop around and compare the loans offered by other lenders, such as Nurses First,” said Mr Huis.