Following a meeting of the pricing committee,
Adelaide Bank has announced an increase to variable interest rates and adjustments to fixed rate loans. New and existing variable rate loans will increase by 0.10% effective Thursday 15 December, while the fixed rates changes vary from a slight decrease of 0.05% for one-year fixed to a 0.26% increase for three year fixed loans.
Damian Percy, General Manager, Adelaide Bank said: “The decision to adjust rates takes into account a wide range of factors, including pressure on funding costs, balancing the interests of borrowers and savers, and maintaining competitive pricing”.
“We remain committed to delivering value to customers through affordable interest rates and smart product features such as 100% offset for fixed and variable customers and easy to use budgeting software linked to transactions through online banking” , Mr Percy concluded.
