Bendigo and Adelaide Bank raises home loan rate

This after the Reserve bank hiked the OCR by 0.25% p.a.

Bendigo and Adelaide Bank raises home loan rate


By Mina Martin

Bendigo and Adelaide Bank has announced changes to the pricing of its home loan products following the Reserve Bank’s decision to increase the OCR by 0.25% p.a.

Home loan customers on variable-rate loans will see their interest rate increase by 0.25% by Oct. 14.

“Bendigo and Adelaide Bank always considers the impact rate rises have on all of our customers, borrowers, and depositors alike,” said Richard Fennell, chief customer officer for consumer banking. “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.”

Customers who wish to better understand how the change will affect them can use Bendigo Bank’s online calculators and tools. The bank has also recently rolled out a new social media campaign, offering practical advice on how Australians can get on top of their budgets and combat rising prices.

Borrowers experiencing difficulty are encouraged to contact the bank to discuss their options and how the bank can assist them. They can speak with their local branch manager or contact the Mortgage Help Centre on 1300 652 146 or visit the bank’s website.

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