Thursday 8 December 2011

B&E Personal Banking has announced a .25% rate cut to its variable housing, residential investment and business loans, following the RBA rate cut announcement earlier this week.

The revised variable rate for owner occupied and residential investment housing loans is now 7.20%.

The rate cut ensures that B&E's most popular home loan, Topline, remains a market leader offering consumers a rate of 6.62% on home loans over $300,000 and 6.72% on home loans over $150,000.

B&E Personal Banking CEO Paul Ranson said that the revised rates would apply from December 15, 2011 for new loans and from January 1, 2012 for existing loans.

"As a member owned financial institution, we continue to be committed to keeping our rates as low as possible and providing value for members as opposed to profit for shareholders.

"With this latest cut, B&E's variable rates remain very competitive with the major banks and ensures that Tasmanians have a real alternative to access highly competitive home loan products from a financial institution that is Tasmanian owned and operated" Mr Ranson said.