Adelaide Bank variable rates further reduced, with a twist
Wednesday 22 October 2014
Fons Caminiti, Senior Manager Broker Distribution, Adelaide Bank has unveiled the latest rate reduction for two variable interest rate home loan products.
“We are extremely pleased to be able to announce a significant reduction on both our SmartSaver basic variable product - down to 4.84% - and our fully featured 100% offset SmartFit variable product - down to 4.89% - until further notice.
“Our most recent discount “with a twist” is aimed at further supporting our brokers with a suite of competitive & genuine alternative options that add value for their clients. The rate cuts represent 0.15 basis points for SmartSaver and 0.20 basis points for SmartFit
“We have ensured that this offer is not restricted by the loan’s size and we will accept applications up to 90% LVR. This is an appealing factor for first home buyers and ‘Mum and Dad’ investors who may be planning to enter the property market.
“The product features and online budgeting tools are specifically designed to help get clients on the path to reducing their home loan sooner and are available to both owner occupiers and investors.
“Some borrowers may also choose to have the best of both worlds and exercise the option of splitting fixed and variable loans, which we are always more than happy to entertain. This strategy gives you access to our SmartFix offering, also with great low rates - and hedges the decision about whether to go fixed or variable”, Mr Caminiti concluded.
SmartSaver new rate - 4.84% (Comparison Rate 4.88%)
SmartFit new rate - 4.89 (Comparison Rate 5.10%)
SmartFix 3 year fixed rate 4.89% (Comparison Rate 5.25%)