Adelaide Bank has announced rate reductions to its investor and owner-occupied home loans.
The bank's SmartSaver, SmartFit, Investment SmartSaver and Investment Smartfit variable loans, which have just been awarded a five-star rating by Canstar in the “Outstanding Value – Variable Home Loans” category, will see a further rate reduction of 0.05 per cent as of Friday 16 October for all new loans.
Adelaide Bank's national manager of broker sales and distribution Fons Caminiti said Adelaide Bank has always been well regarded for offering great products and dedication to personalised service.
“The top-rating Canstar Award of five stars, underscores the low cost and full range of features that make SmartFit and the ‘no frills’ SmartSaver home loan popular choices with both mortgage brokers and their customers,” Mr Caminiti said.
“It is now possible for an owner-occupier to get an Adelaide Bank home loan for just 4.14 per cent, which is truly outstanding value.
“In addition, the SmartFit product is loaded with features and includes a fully transactional 100 per cent offset account and access to online budgeting tools geared toward assisting customers to reduce their home loan balance sooner.
“Investors too can now get an Investment SmartSaver loan for as low as 4.54 per cent, depending on which qualifications and restrictions apply," he said.
Mr Caminiti said the Canstar Award is a great achievement for Adelaide Bank, particularly in light of the highly competitive lending landscape the lender is currently contesting.
James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.
He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.
He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.
James holds a BA (Hons) in English Literature and an MA in Journalism.
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