New interest rates for new and existing loans will take effect on 1 April 2020
After a comprehensive review of the rates on home loans and our savings / deposit products, Sydney Mutual Bank has decided to reduce the rates on home loan products while also trying to maintain competitive rates on our savings products.
As a member owned bank, our focus is on finding a balance for all of our members so that our rates remain competitive for our depositors and borrowers.
The rates on variable rate home loan products (owner-occupied and residential investor, both new and existing borrowers) will be reduced by 0.25%.
The new interest rates for new and existing loans will take effect on 1 April 2020.