Bank of Sydney reduces fixed rate

Bank of Sydney is reducing its three-year fixed rate for owner-occupiers to 3.98 per cent.

The bank’s head of third-party distribution Steve Sampson announced the rate cut today.

“We believe this is a market-leading rate for home buyers and demonstrates the bank’s commitment to both home buyers and the broker market,” Mr Sampson said.

“The home loan market is extremely competitive at the moment and this rate shows that Bank of Sydney is determined to be a challenger brand with products that are competitive and demonstrate value for money.”