Bendigo Bank reduces home loan interest rates after RBA cut
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The news: Bendigo Bank has announced a reduction to the pricing of home loan products following the Reserve Bank's decision to cut the cash rate by 0.25% per year on Tuesday.
The numbers: For Bendigo Bank home loan customers on a variable rate loan, the interest rate will decrease by 0.25% per year from 7 March 2025.
The context: Bendigo follows big four lenders Commonwealth Bank, National Australia Bank, Westpac and ANZ, which all cut their home loan interest rates in line with the RBA decision earlier this week.
What they said: "We know many of our lending customers welcomed the RBA’s recent decision to cut interest rates for the first time since November 2020," said Bendigo's chief customer officer for consumer banking Taso Corolis.
"We’re pleased to pass on the full benefit of this cut to homeowners," he said.
The source: Bendigo Bank media release
