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Interest Rate Changes

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Thursday, 6 April 2017

We’ve recently reviewed our home loan rates in response to the changing market conditions, the cost of funds and the need to keep our investment lending growth within regulatory limits.

As a result our home loan interest rates will be changing effective Wednesday 26th April.

Rate change summary

  • a 0.10% increase to all existing and new Owner Occupied variable rate loans;
  • a 0.25% increase to all existing and new Investment variable rate loans;
  • a 0.10% increase to new 4 and 5 year Owner Occupied fixed rate loans; and
  • a 0.10% and 0.30% increase to new 4 and 5 year Investment fixed rate loans, respectively.

 

Please note - Fixed Rate home loans reaching their term will revert to the following rates:

  • 4.24%p.a. Owner Occupier
  • 4.64%p.a. Investment

Interest rate changes are not always an easy decision. Our focus is to ensure that our customers are still receiving a great deal for all of their banking (on both deposits and loans), whilst ensuring the strength and security of the bank.

Rest assured that we will always endeavour to maintain our competitiveness with the major banks and will continue to assess our rates in the best interests of all customers.

 

FAQs

What changes will there be to interest rates?

  • a 0.10% increase to all existing and new Owner Occupied variable rate loans;
  • a 0.25% increase to all existing and new Investment variable rate loans;
  • a 0.10% increase to new 4 and 5 year Owner Occupied fixed rate loans; and
  • a 0.10% and 0.30% increase to new 4 and 5 year Investment fixed rate loans, respectively.

Why did you increase your home loan rates?

We’ve recently reviewed our home loan rates in response to the changing market conditions, the cost of funds and the need to keep our investment lending growth within regulatory limits.

Interest rate changes are not always an easy decision. Our focus is to ensure that our customers are still receiving a great deal for all of their banking (on both deposits and loans), whilst ensuring the strength and security of the bank. Rest assured that we will always endeavour to maintain our competitiveness with the banks and will continue to assess our rates in the best interests of customers.

When will these rate changes be effective from?

The new rates will be effective 26 April 2017.

When will the new welcome rates be advertised?

Our welcome rates will be advertised from the 26 April 2017.

When will my repayments change?

For existing home loan account holders, new repayments will apply for the 1st repayment applicable after the 25th May.

Where can I find your latest interest rates?

Our current interest rates are available on our website or in branch.

Where can I find the interest rate I’m currently receiving for my loan?

Login into online banking, go to the accounts tab, and click on the three dots to the right of the current balance. This will open up an additional panel of information, which will include your current interest rate. For variable rate deposits, see our current Interest Rate brochure on our website.

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