QBANK cuts interest rates and increases term deposits

QBANK today announced it will reduce Variable Rate Home Loans by 0.15%pa, and increase a range of term deposit rates.

  • Variable Rate Home Loan (Investor and Owner Occupier) rates reduced by 0.15%pa;
  • 1 year term deposit rate increased by 0.10% to 2.95% per annum;
  • 2, 3, 4 and 5 year term deposit rates increased by 0.10% to 3.10% per annum.

QBANK Chief Executive Officer Grant Devine said a number of factors were taken into consideration to make the pricing decisions.

“Following the RBA’s historic announcement, we’ve carefully considered current market conditions, the needs of borrowers and savers and the business,” said Mr Devine.

“Today’s announcement continues to see QBANK hold a market leading position when it comes to home lending products in Queensland.”

Home loan rate changes are effective 19 August 2016. (Note: Mortgage Secured Overdraft changes effective 1 September 2016)

For more information, terms and conditions on QBANK products, visit qbank.com.au/products

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