Rural Bank announces interest rate changes
Friday 10 November 2023: Rural Bank has today announced changes to the pricing of its variable lending rates for secured term loans following the RBA’s decision to lift the cash rate by 0.25% p.a. on Tuesday.
For Rural Bank customers on a Variable Rate Loan the interest rate will increase by 0.25% p.a. as of Friday 24 November.
Chief Customer Officer Business and Agribusiness, Adam Rowse, said:
“Rural Bank continues to carefully consider the impact of rate changes on borrowers and depositors. We will continue to support our customers as and when they need us.”
Borrowers who are experiencing difficulty are encouraged to get in touch with the bank to discuss their options and how we can help. If you would like to apply for assistance, please contact your relevant Agribusiness Relationship Manager or Rural Bank Customer Service Team on 1800 652 146.