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 Bank home loan customers on a Variable Rate Loan the interest rate will increase by 0.25% p.a. as of 17 February The Bank will also increase the rate on its Reward Saver deposit products by 0.25% p.a. as of 23 February.
Chief Customer Officer for Consumer Banking Richard Fennell said:
“Bendigo and Adelaide Bank has always and will continue to carefully consider the impact rate rises have on all of our customers, both borrowers and depositors.”
“We understand that the cumulative impact of rate rises can create challenges for borrowers and have a team standing by to help customers with any concerns they may have.”
“I encourage customers who want to ensure their home loan is still the right one for them to complete our free online Home Loan Health Check and make sure it meets your current needs.”
Customers who are interested in better understanding how these changes will affect them can use Bendigo Bank’s online tools and calculators where they can calculate the impact of the recent rate rise, prepare a family budget and more.
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/