Bendigo Bank announces interest rate changes

Bendigo Bank has today announced changes to the pricing of its home loan and savings products following the Reserve Bank of Australia (RBA) decision to lift the cash rate by 0.25% p.a. on Tuesday.

For Bendigo Bank home loan customers on a Variable Rate Loan the interest rate will increase by 0.25% p.a. as of 17 March 2023. The Bank will also increase the rate on its Reward Saver deposit products by 0.25% p.a.

Chief Customer Officer for Consumer Banking Richard Fennell said:

“We understand the RBA’s decision to lift rates on Tuesday will put increased pressure on borrowers and their budgets. At Bendigo Bank, we have a team standing by to help customers with any concerns they may have.”

“I urge those looking for a better interest rate to take a look at Bendigo Bank’s Home Loan Health Check to make sure your current home loan meets your needs.”

Customers who are interested in better understanding how these changes will affect them can use Bendigo Bank’s online Calculators and Tools where they can calculate the impact of the recent rate rise, prepare a family budget and more.

Borrowers who are experiencing difficulty are encouraged to get in touch with the bank to discuss their options and how we can help. Customers can speak with their local branch manager or contact the Mortgage Help Centre on 1800 652 146 or visit www.bendigobank.com.au/support/