Rural Bank announces interest rate changes for borrowers
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 September meeting. This change is effective 23 September 2022.
Chief Customer Officer for Rural Bank, Adam Rowse said the Bank always considers a range of factors when making decisions about rates.
“We continue to carefully consider the impact of rate changes on all of our customers. We understand this economic environment can make it tough for borrowers. Our relationship managers are always available to help our customers with whatever challenges and opportunities they are facing into."
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.