We will be reducing our variable loan interest rates following the Reserve Bank of Australia's decision on Tuesday 18 February 2025 to decrease the official cash rate by 25 basis points.
“The Mutual Bank’s interest rates are regularly reviewed to ensure we remain both competitive and sustainable,” said CEO Mark Williams.
“With the RBA’s decision to reduce the official cash rate, we want to ensure our Members with a variable rate home loan or business loan can access rate relief as soon as possible, so we have quickly resolved to pass on the rate cut to these Members in full,” he said.
The Mutual Bank’s Owner Occupied and Investment Home Loan interest rates will decrease by 0.25% p.a. effective 4 March 2025.
Business Loan variable interest rates will also decrease by 0.25% p.a. effective 4 March 2025.
Our deposit rates are under review at this time.
Members will be informed about their new loan repayments in coming weeks.
“We hope that the reduction in variable loan interest rates will provide some reprieve for home and business owners after a challenging rate increase cycle,” said Mark.
Financial hardship support: Members affected by cost-of-living pressures are encouraged to discuss their loan with our friendly team. Please contact us if you need support to meet your loan obligations.
Based on your circumstances, our team can assess your eligibility for a range of support options that may be available to you, such as loan deferrals, interest-only periods, or other appropriate relief.
We are here to help you – talk to us.
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