10 Jan, 2021 10:41 PM3 minutes to read

Westpac’s latest rate is lowest currently offered by a major bank. Photo / Getty Images

Westpac is keeping the pressure on its competitors with its lowest ever interest rate.

The bank announced today a mortgage rate at 2.29 per cent – the lowest currently offered by any of the big four banks.

There is, however, a catch in that the special rate is only available on a one-year fixed term for customers with 20 per cent equity in owner-occupied homes.

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