04 September 2013

Friday, August 9, 2013

Tasmanian financial institution B&E Personal Banking has today announced a 25 basis point reduction to its variable housing and residential investment rate. The new standard variable rate will be 5.89% p.a.

The new rates will apply from August 15, 2013 for new loans and from September 1, 2013 for existing loans. B&E Personal Banking CEO Paul Ranson said that the revised home loan rates continue to position B&E well, ensuring Tasmanians have access to one of the most competitive standard variable home loan rates on the market.

“Based on this latest review, customers with an average variable home loan of $250,000 will see their repayments decrease by $38.23 a month (principal and interest home loan over 25 years),” Mr Ranson said. “The move also ensures that our most popular home loan, Topline, remains a market leader offering consumers a rate of 5.31% on home loans over $250,000 and 5.41% on home loans over $150,000.

“Our Topline Home Loan Package represents exceptional value in the market. With no monthly service fees or annual package fees, alongside the heavily discounted variable rate, Tasmanians would be hard pushed to find a better way to finance their dream home,” Mr Ranson said.

“When reviewing our lending and deposit rates, we consider a wide range of factors including balancing the interests of borrowers and depositors. As a member-owned financial institution, we continue to be committed to keeping our home loan rates as low as possible and providing value for members as opposed to profit for shareholders,” Mr Ranson said.

For details on B&E's full range of home loan options, click here.

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