SME Blog & News

Market Update

Following the Reserve Bank recent interest rates cuts, rates are at an all time low.

These historical low interest rates will obviously impact borrowings across many loan facilities – i.e. motor vehicles, business equipment commercial & industrial property, residential & investment properties. Some examples of what is now available are:

  •  Owner occupied, principle and interest home loans from 3..02% 
  • Commercial & industrial property loans from 4% - Larger transactions

(plus $5m will attract a further reduction in interest rates)

  • Business and other equipment from 4%

 Consider an example of a motor vehicle or equipment  purchased for $150,000.00 and

 financed over a 4-year term with a balloon of 40%

  •  In 2010 the monthly repayment would have been:  $2,568.00
  • In 2015 the monthly repayment would have been:   $2,499.00
  • Today in 2019 the monthly payment will be:              $2,248.00

 That is a staggering $320 per month reduction over a 9-year period

 Many of the car and equipment dealers are also heavily discounting their stock so if you are considering any purchase at present, especially a motor vehicle, looking for a new home or you wish to refinance your current home loan, your timing may be perfect.

 Phone (03) 8825 8888 or enquire through our website:

https://www.smefg.com.au/contact

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