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Bendigo Bank Lowers Variable Interest Rates

4 October 2019 |Announcements

Bendigo Bank will reduce all variable home loan interest rates by 0.15% p.a. in response to the Reserve Bank of Australia's latest official interest rate cut.

  •  All new and existing owner occupier variable home loan rates will reduce by 0.15% p.a.
  • All new and existing investor variable home loan rates will reduce by 0.15% p.a.

The Bank will also decrease its business variable rate term loans and overdrafts by 0.20% p.a.

Managing Director, Marnie Baker said the decision was made after careful evaluation to balance the various needs of the Bank's stakeholders: borrowers, depositors, small businesses, partners, shareholders and the broader community.

"We take into account an array of potential outcomes when deciding on rate changes, particularly in a record low interest rate environment.

"These rate changes carefully consider the diverse interests of all stakeholders, the performance of our business, our market competitiveness and our deep connection with, and responsibility to, communities right across our national network."

Home loan interest rate changes will be effective from 15 October 2019. Business interest rate changes will be effective from 25 October 2019.

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Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable Disclosure Documents before acquiring any product described on this website. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.

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