Interest Rate Update - July 2019
Australian Military Bank has reviewed its interest rates and decided to reduce variable rate home loans by 0.20% p.a., effective from Monday 29 July 2019.
In addition, the Bank has also decided to reduce fixed rate home loans, effective Monday 29 July 2019. Specific interest rates will be communicated shortly, however we’re happy to announce our DHOAS 3 Year Fixed Home Loan will be reduced to 3.59% p.a. (4.27% p.a. comparison rate).
Unfortunately, the RBA target cash rate does not reflect the Bank’s cost of funds as this is influenced by a variety of sources. When we change interest rates we need to balance the needs of our depositors, who will also be impacted by this low interest rate environment.
The Bank will shortly communicate changes to selected deposit products.
