Bendigo and Adelaide Bank announces interest rate changes

Bendigo and Adelaide Bank has today announced changes to the pricing of its home loan and savings products following the RBA’s decision to lift the cash rate by 0.25% p.a. on Tuesday.

For Bendigo and Adelaide Bank home loan customers on a Variable Rate Loan the interest rate will increase by 0.25% p.a. as of 14 October. The Bank will also increase the rate on its Reward Saver deposit products by 0.25% p.a. as of 26 October.

Chief Customer Officer for Consumer Banking Richard Fennell said:

“Bendigo and Adelaide Bank always considers the impact rate rises have on all of our customers, borrowers and depositors alike. We are here to help and have a team standing by. I would encourage customers to complete our free online Home Loan Health Check to make sure your current home loan meets your needs.

“We are also aware that savers have been doing it tough for a long time and will be pleased to receive stronger return on their deposits.”

Customers who are interested in better understanding how these changes will affect them can use Bendigo Bank’s online Calculators and Tools where they can calculate the impact of the recent rate rise, prepare a family budget and more.

The Bank has also recently launched a new social media campaign, offering practical advice on how Australians can get on top of their budgets and combat rising prices.

Borrowers who are experiencing difficulty are encouraged to get in touch with the bank to discuss their options and how we can help. Customers can speak with their local branch manager or contact the Mortgage Help Centre on 1300 652 146 or visit www.bendigobank.com.au/support/