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Beyond Bank cuts home loan interest rates again.

October 2019
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Beyond Bank cuts home loan interest rates again.

We are pleased to announce that we will be passing on an interest rate cut of 0.14% 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. 

The new variable rates apply to owner-occupiers, investors and business accounts.

Mr. May acknowledged that the current lending environment is unique with rates at historically low levels. 

"Decisions around rates are never as simple as they may seem as we must take into account the 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.

“We have now passed on a reduction of 56 basis points to many of our borrowers since June, which is a great outcome.” 

The new rates come into effect on Tuesday, 22 October 2019.

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