Bendigo Bank announces interest rate changes

Bendigo Bank has today announced a change to the pricing of variable rate home loan products following the RBA’s decision to increase the cash rate by 0.25% 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 Wednesday, 11 November.

"Bendigo Bank continues to carefully consider the impact of interest rate changes on all of our customers. We know these changes can be challenging for some borrowers and want to reassure our customers that our teams are ready to support those who need our help,” Chief Customer Officer Consumer, Christopher Dean said.

“At times like these some borrowers will be considering whether their current home loan suits their needs. If you are looking to refinance or in the market for a new home loan, I’d encourage you to consider whether our Bendigo Bank Express Home Loan is right for you,” Mr Dean said.

“This entirely digital offering - which we have relaunched today - offers very competitive rates and is now available to eligible first home buyers and property investors, in addition to borrowers looking to refinance,” he said.

Bendigo Bank customers interested in better understanding how these interest rate changes will affect them can contact the Bank directly, complete Bendigo Bank’s free online Home Loan Health Check and can access a range of Calculators and Tools, including a family budget tool.

Borrowers who are experiencing financial difficulty or are concerned that they may be at risk of financial difficulty, are encouraged to speak with their local branch manager, contact the Mortgage Help Centre on 1800 652 146 or visit www.bendigobank.com.au/help.