The Mutual Bank reduces Owner-Occupied Home Loan fixed rates

The Mutual Bank has reduced Owner-Occupied Home Loan fixed interest rates, effective 16 November 2020, following the Reserve Bank of Australia’s decision this month to reduce the official cash rate by 15 basis points.

The interest rate cuts are a reduction of 15 basis points for new one-year fixed-term and 25 basis points for new two and three-year fixed-term home loan interest rates, available with The Mutual Bank’s Package Home Loan and Premium Home Loan product offers.

The Mutual Bank’s decision to reduce its fixed interest rates has come after careful consideration of the needs of all of its members.

CEO Geoff Seccombe said, “The Mutual Bank seeks to balance the needs of both depositor and borrower members. It has been a difficult year for many Australians, and we acknowledge that this low interest rate environment is uniquely challenging for depositors who rely on interest income.”  

“We believe that this balanced decision provides the opportunity for home buyers and homeowners to take advantage of some of the lowest fixed interest rates The Mutual Bank has ever had on offer,” said Mr Seccombe. “Members looking to lock in their interest rate, buy a new home, or refinance an existing home loan can fix their interest rates with The Mutual Bank for as little as 2.14% today.”

For more information about The Mutual Bank’s home loans and interest rates, contact your Personal Banking Manager or The Mutual Bank’s Member Services Team on 1300 688 825.

The Mutual Bank’s current home loan interest rates are available here.