Hume Bank have announced significant reductions to selected fixed and variable rates, with fixed rate products starting from 1.89% per annum. These new business rates are effective from 16 November 2020, for new fixed and variable rate home loans.
Hume Bank have announced significant reductions to selected fixed and variable rates, with fixed rate products starting from 1.89% per annum. These new business rates are effective from 16 November 2020, for new fixed and variable rate home loans.
Hume Bank Chief Executive Officer, Stephen Capello said, “These changes are designed to provide customers with certainty in uncertain times, boost consumer confidence and support the economy. The reductions follow multiple rate cuts Hume Bank have made throughout the year and considers a range of factors across all stakeholders. These continue to be challenging times for all Hume Bank customers and these rate reductions underpin our commitment to balance the needs of all customers and support our community during this difficult time” he said.
- 0.10% to 0.40% cut to 1-year Fixed Rate starting from 1.89% p.a.
- 0.05% to 0.10% cut to 2-year Fixed Rate starting from 1.99% p.a.
- 0.20% cut to Flexi variable starting from 2.29% p.a.
Hume Bank remains committed to supporting the local economy with $50 million invested into renovating and building new homes through the Hume Bank HomeBuilder loan, which remains at 1.99% for both Owner Occupiers and Investors. New Business loan rates have also been reduced by up to 0.40%.
As a customer owned bank, our decision to keep existing variable rates unchanged recognises their position as among the best on offer and follows a considered assessment process to ensure competitive and fair pricing, enabling Hume Bank to continue to support our communities and the interests of both borrowers and depositors – as we have done so for 65 years. This decision further ensures that Hume Bank loan rates remain amongst the most competitive on offer and will assist in containing living costs for customers.
Customers who have questions regarding the rate change are encouraged to speak to one of our Lending Specialists in branch, to book a home loan appointment online at humebank.com.au or over the phone on 1300 004 863.