Media Release
BankSA cuts variable home loan interest rates
Tuesday, 2 July 2019
BankSA has today announced a range of mortgage rate decreases for variable home loan customers, including a reduction of .20% per annum (p.a) for owner occupier customers and a reduction of .30% p.a. for investor customers with interest only repayments.
The following interest rate changes will come into effect on Tuesday 16 July 2019.
- Variable home loan (owner occupier) rate has been reduced by .20% p.a. to 4.95% p.a. for customers with principal and interest repayments.
- Variable residential investment property loan reduced by .20% p.a. to 5.52% p.a. for customers with principal and interest repayments.
- Variable home loan (owner occupier) rate reduced by .20% p.a. to 5.54% p.a. for customers with interest only repayments.
- Variable residential investment property loan rate reduced by .30% p.a. to 5.81% p.a. for customers with interest only repayments.
For an owner-occupier customer with a standard variable home loan of $400,000 on principal and interest repayments, the .20% p.a. rate reduction will result in a saving of $800 each year.
Customers who would like information on this rate change are encouraged to contact their local branch or call 13 13 76.
Media contact:
Megan Grey