Bendigo Bank reduces variable home loan rate to 6.90% p.a.
Bendigo Bank has announced it will decrease its residential variable home loan interest rate by 0.20% p.a. to 6.90% p.a. effective 25 June 2012.
Bendigo and Adelaide Bank Managing Director Mike Hirst said the adjustment aims to find a fair balance for all of the Bank’s key stakeholders.
“When setting interest rates our Bank needs to take into account a wide range of factors and carefully consider its borrowers, depositors, staff, shareholders, partners and the wider community,” Mr Hirst said.
Customers with an average variable home loan of $250,000 will see their repayments decrease by $33 a month (principal and interest home loan over 30 years).