Rural Bank announces interest rate changes
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 18 November.
Chief Customer Officer Business and Agribusiness Adam Rowse said:
“At Rural Bank, we know each rural business is unique and requires a tailored approach. Our team continues to consider the impact rate rises have on our customers and is standing by to chat through any issues or questions you and your business might have as a result of this change.”
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 1300 660 115.