Due to the new “saving” ethic many Australians have adopted, the banks are flush with funds right now.
They now want to lend this money out, and as a result are offering large discounts on their interest rates.
Depending on certain circumstances, it is quite feasible to obtain a discount of up to 1% off the banks’ standard variable rates. So a rate of around 6.80% is not out of the question.
These are not honeymoon rates, but permanent discounts.
