IMB Bank has announced that it has increased the interest rate on its commercial variable loans by 10 basis points as a result of “increased costs of funding”.
The changes apply to existing business banking, commercial and SMSF fully drawn variable loans.
The fully drawn business loan (commercial security) rates now start from 4.89 per cent, while fully drawn business loan (residential security) start from 4.39 per cent.
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Interest rates on self-managed superannuation fund loans are available on application.
[Related: Lender’s SME loan product swells by 52%]
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