Following the decision made by the Reserve Bank last week to lower the official cash rate by 0.25% BankVic will reduce its variable interest rates across all owner-occupied and investor home loans by 0.15%.
In making this decision, BankVic has carefully considered market conditions, the interests of both our borrowers and deposit holders as well as making sure we are well positioned to continue to invest in providing sustainable, competitive banking solutions for our members into the future.
As a member owned bank, BankVic’s profits are 100% re-invested to benefit our members and their communities. We remain committed to making sure we continue to offer products and services for our members that are a competitive alternative to the big 4 banks.
The new variable home loan rates will be effective from 16th July, 2019.