[UPDATED] SBS has done the old drop the rate trick across all its fixed rates. Cuts range from just 10 and 5 points for the six month and one year rates respectively through to 25-plus point cuts for longer terms. When you compare the rates in our table its most competitive offering is two-years where it's in the money with competitors. Its longer term rates aren't quite so sharp, but still are good.
It has now introduced a two-year special of 5.65% This applies to only residential lending that is within 80% LVR and the member has full banking with SBS/HBS.
SBS rate changes apply to its subsidiary HBS.
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