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6 June 2019

IMB Bank announced today that it will pass on the 0.25% reduction across residential and business lending products, in line with the reduction to the cash rate announced on Tuesday by the Reserve Bank of Australia.

In addition, IMB announced reductions to its 1, 2 and 3-year fixed rate loans for our home loan borrowers. Check out the new rates for both Owner Occupiers and Investment customers below.

Owner Occupier P&I loans

Interest Rate p.a.

Comparison Rate p.a.

1 Year Fixed Rate Loan P&I

3.49%

4.71%

2 Year Fixed Rate Loan P&I

3.49%

4.60%

3 Year Fixed Rate Loan P&I

3.49%

4.50%

Investment P&I loans

Interest Rate p.a.

Comparison Rate p.a.

1 Year Fixed Rate Loan P&I

3.79%

5.25%

3 Year Fixed Rate Loan P&I

3.79%

4.99%

IMB Bank CEO Robert Ryan said, “IMB continues to review its interest rates to ensure that we are balancing the interests of all of our members, but these changes ensure IMB Members have access to some of the most competitive home and business loan interest rates in the country.”

The interest rate changes come into effect from June 21.

 

Normal IMB lending criteria, terms and conditions, fees and charges apply. IMB Rates current as at date of appearance and subject to change. Fixed rates are indicative and may vary on settlement. All fixed loans convert to a discount off the standard variable rate at the end of the fixed term. Comparison Rate is based on a $150,000 secured loan over 25 years. WARNING: This Comparison Rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts may result in different Comparison Rates.

Why choose IMB Bank?

Established in 1880, IMB has been helping people achieve their financial goals for 138 years. IMB offers a full range of banking solutions including home and personal lending, savings and transaction accounts, term deposits, business banking, financial planning and can arrange a wide range of insurance and travel products.

IMB has a growing branch network throughout the Illawarra, Sydney, NSW South Coast, the ACT and Melbourne. We have a lending specialist in every branch and a team of mobile lending specialists who will come to you. IMB members enjoy access to free automated phone and internet banking and a team of professionals who are just a phone call away at our locally based call centre.

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