NAB and Commonwealth bank have both failed to pass on the
Reserve Bank's interest rates cut in full, making a reduction of only
0.20 per cent.
NAB's Group Executive for Personal Banking, Lisa Gray, said the bank
had tried to offer the lowest rate of the major banks while ensuring the
bank was safe and secure.
"The increased competition for deposits is pushing up costs, making it more expensive to fund our lending," Ms Gray said.
Yesterday ING Direct anounced it would pass on the rate cut in full, slicing its variable home loans by 0.25 per cent.
The Bank of Queensland has already reduced its variable home loans by 20 basis points.
NAB's cut will come into effect on October 8, saving $50 per month on an average $300,000 mortgage.
Commonwealth Bank's cut will come into effect on October 12.
ANZ has stated it would not reduce rates before its regular rates meeting on October 12.
All Westpac would say today was that their rates were under review.
The big four banks' standard variable home loan rates currently stand at:
Location: Venus Bay, Victoria This is around 2 hours drive from Melbourne. Aim for Bay 1, turn left away from the entrance; or bay 5, turn right away from the entrance. Preparation: Map (see below) Tide Time (Check at Australian Tide Time ) Fishing License (Purchase at Kmart or DPI online ) Container (2-liter per person limit) Sunscreen Drinking water NO digging tools! (hands and feet only) Fun Part – Digging: Best time is the low tide towards the lowest tide. Pipi could be around 5~10 cm deep.
My Brivis HX23 Heater broke down this week. H01 Code #69. This code was not even listed in the User Manual! Searching around the web and here is what I found: Secret Reset: This is not in the User Manual. On the networker controller press FUNCTION > 1 > 4 keys and the screen will go blank and come back on after 30 seconds, this has rebooted the main PCB and reset the fault code. Use this with caution as too much gas build up could cause an explosion. Use it only after the unit has enough time to air out the gas build up. What is Code #69 or any other unpublished codes? The best way to find out is to open up the heater unit. There is a little LCD on the PCB showing what error exactly is. (Note: Opening up the unit may void your warranty.)