Media Release

BankSA today announced interest rate cuts for home owners and property investors.

The .20% per annum (p.a.) interest rate reduction will bring the headline owner occupier home loan variable rate to 5.15% p.a. and the headline residential investment property variable rate to 5.72% p.a for customers with principal and interest repayments.

The following interest rate changes will come into effect on 18 June, 2019.

• Variable home loan (owner occupier) rate has been reduced by .20% p.a. to 5.15% p.a. for customers with principal and interest repayments.
• Variable residential investment property loan reduced by .20% p.a. to 5.72% p.a. for customers with principal and interest repayments.
• Variable home loan (owner occupier) rate reduced by .20% p.a. to 5.74% p.a. for customers with interest only repayments.
• Variable residential investment property loan rate reduced by .35% p.a. to 6.11% p.a. for customers with interest only repayments.

BankSA Chief Executive, Nick Reade, said this would be welcome news for customers.

“We know that South Australians are managing tight household budgets so this rate reduction will provide extra breathing room for home owners.

“With historically low interest rates, we encourage all South Australians to talk to us about how we can support them to reach their goals sooner.”      

Customers who would like information on this rate change are encouraged to contact their local branch, call 13 13 76, or visit banksa.com.au.

 

Media contact:
Megan Grey
0466 320 662
greym@banksa.com.au