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Reductions to home loan interest rates.

July 2019
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Reductions to home loan interest rates.

Beyond Bank is pleased to announce that we will be passing on an interest rate cut of 0.17% p.a. to our variable rate home loans. 

The announcement follows the recent decision by the Reserve Bank of Australia to cut the official cash rate and will apply to both new and existing lending. 

"As a customer-owned bank, we are always striving to pass on as many savings as we can to our customers,” said Mr. Nick May, General Manager, Customer Experience, Beyond Bank. 

“We also know that times are tough for many families and we want to do everything we can to make life easier and our hope is that this reduction will make a real difference to household budgets.” 

”We’ve now passed on a reduction of 0.42% to many of our borrowers, which is a great outcome for these customers.” 

"Decisions around rates are never as simple as they may seem as we must take into account the current market conditions, our business performance and the impact on all of our customers, not just those with loans. 

“It’s a constant balancing act as we very carefully consider the needs and demands of all our customers.

The new rates come into effect on Tuesday, 23 July 2019. 

We will be in contact with each member directly via email or mail to advise how these rate changes will impact their loan.

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