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Rural Bank announces interest rate changes for borrowers

19 August 2022 |Interest rate announcement

Rural Bank has announced an increase of 0.50% to its variable term lending and overdraft products following the RBA’s decision to lift the cash rate at its August meeting. This change is effective 19 August 2022.

Chief Customer Officer for Rural Bank, Adam Rowse said the Bank always considers a range of factors when making decisions about rates.

"We have each of our stakeholders front of mind when considering a change to rates at any time, including our lending and deposit customers. We are continuing to work with them – to give them confidence to take hold of opportunities that lay ahead and to manage the challenges presented by a dynamic economic environment.”

As a specialist agricultural lender, Rural Bank assesses individual cases of hardship on a case-by-case basis. Any customer with questions regarding their circumstances is encouraged to contact their relationship manager directly. They can also call Rural Bank’s Customer Service Team on 1300 660 115 or visit their nearest branch.

Disclaimer: Whilst all care has been taken in compiling the information, the information should not be relied upon as substitute for professional advice where necessary. Rural Bank accepts no responsibility for the accuracy, completeness or timeliness of the information and disclaims all liability in relation to any loss or damage suffered by the use of or reliance upon any information contained herein or in any attachment or annexure hereto by any person. Rural Bank – A Division of Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL 237879

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Bendigo and Adelaide Bank acknowledges Aboriginal and Torres Strait Islander peoples as the First Peoples of this nation and the Traditional Custodians of the land where we live, learn and work. We pay our respects to Elders past and present as it is their knowledge and experience that holds the key to the success of future generations.

Rural Bank - A Division of Bendigo and Adelaide Bank Limited
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