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The Mutual Bank today announced the following reductions to its loan interest rates:
Owner-Occupied and Investment Home Loan variable interest rates reduced by
0.25%p.a. effective 16 March 2020
Commercial Loan variable interest rates reduced by 0.15%p.a. effective 16 March
2020
Owner-Occupied and Investment Home Loan fixed interest rates reduced by up to
0.25%p.a. effective from today
This follows today’s announcement by the Reserve Bank of Australia to reduce the official
cash rate by 25 basis points to 0.50%.
As a member-owned bank, interest rates are reviewed regularly to ensure we remain both
competitive and sustainable.
CEO, Geoff Seccombe stated, “These historically low Home Loan and Commercial Loan
interest rates will provide further relief for families and business owners across our region
and present a great opportunity for First Home Buyers looking to enter the property
market.”
The potential for further RBA cash rate reductions appear likely and the challenge for The
Mutual Bank is to maintain the balance for all our members, particularly those who rely on
the income from their savings.”
The Mutual Bank’s CEO, Mr Geoff Seccombe, said that The Mutual Bank seeks to achieve
financial sustainability that balances the needs of all members.
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