Skip to main content
Locate us

Movements in interest rates

8 May 2002 |Media centre

Bendigo Bank today announced its response to the 0.25% p.a. increase in official interest rates.

Group Managing Director Rob Hunt said the increase would be passed on to a range of loans and savings accounts.

"We will take a balanced approach to our borrowers and depositors, just as we did during the series of rate reductions last year," Mr Hunt said.

"The increase announced by the Reserve Bank is modest and will add $16 per month to a $100,000 mortgage.

"But it will also improve the returns achieved by the many people in our community who rely on their savings to produce income."

Mr Hunt said the Bendigo would increase variable interest rates by 0.25% p.a. for home loans, business loans and credit cards effective from 1 June 2002.

From 1 June, the variable home loan rate will be 6.35% p.a.

The bank will also increase interest payable to a wide range of deposit account holders including the bank's popular Classic savings account. 

Related Topics

Connect with us

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.

© Copyright 2022 Bendigo and Adelaide Bank