QBANK announces changes to interest rates

Today, QBANK announced that it will reduce interest rates on fixed rate home loan and deposit products.

QBANK will reduce interest rates on its fixed rate home loan products for owner occupiers and investors by 0.20% - 0.65% per annum.

These changes will be effective Wednesday 18 November 2020.

QBANK will also be introducing a four-year fixed rate special offer home loan available to owner occupiers and investors.

QBANK’s decision to offer our lowest ever Fixed Rate home loan products will provide members who are looking to buy a home or switch their existing home loan to QBANK with certainty into the future.

CEO Mike Currie said QBANK’s decision reflects the need to balance the interests of both borrowers and depositors in a challenging financial landscape.

“As a member owned bank, we have a responsibility to balance the needs of borrowers and deposit holders to ensure that we are competitive in the market and that QBANK remains a sustainable business into the future.”

 

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