Competition in the Fixed Rate market is heating up – with one second-tier bank offering an eye-catching 3.39% pa. 2 Year Fixed rate – the lowest headline rate I have seen offered from a Full Service bank (ie, not an online only lender) without a laundry list of restrictions and qualifications. The comparison rate on this product is 3.94% – which reflects the higher base rate underlying the Fixed Product which will be payable after the Fixed Rate period for the remaining life of the loan.