Adelaide Bank has announced a cut of 20 basis points to one of its home loan products.
The SmartFix three-year fixed rate has been reduced from 5.09 per cent to 4.89 per cent, effective July 10.
General manager Damian Percy said the new rate represents the best value this loan has offered for some time.
“Not only does the rate provide a great opportunity for borrowers to lock in a fabulous rate for the next few years, but they receive the benefit of our fully transactional 100 per cent offset, free 90-day rate lock, the automated budgeting tool integrated into our new online banking service, and free and unlimited use of over 2,000 Bendigo Bank and Suncorp ATMs,” he said.
Mr Percy said brokers can also rely on “super quick turnaround times” from the bank’s “broker-exclusive” processing and call centre teams.
[Related: Adelaide cuts rates by 50 points]