Interest Rate Update - October 2019
Australian Military Bank has reviewed its interest rates and decided to reduce variable owner occupied and investment rate home loans, by 0.14% p.a. These changes take effect as follows:
- New to bank home loan rate changes effective 18th October 2019
- Existing home loan rate changes effective 30th October 2019
In addition, the Bank has reduced fixed rates for new borrowings and the following changes take effect as follows:
- 2 year fixed rate owner occupied is reduced down by 0.50% effective 18th October 2019
- 2 year fixed rate investment is reduced down by 0.45% effective 18th October 2019
Unfortunately, the RBA target cash rate does not reflect the Bank’s cost of funds as this is influenced by a variety of sources. When we change interest rates we need to balance the needs of our depositors, who will also be impacted by this low interest rate environment. Changes to deposit product rates will take effect and be reflected on our website shortly.
For any queries about this rate reduction on new or existing home loans please contact us on 1300 13 23 28 or email us at: service@australianmilitarybank.com.au
