Bendigo Bank Lowers Variable Interest Rates
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.