Bank of Queensland has today announced it will reduce its standard variable interest rate by 0.62%.
Group Executive, People and Corporate Services, Daniel Musson, said the Bank was keen to do everything it could to offer customers some relief, despite the ongoing volatility in world markets.
"We value our customers and believe that by reducing our rates by 0.62% we are balancing the interests of our customers with that of our shareholders, given the very high wholesale and offshore funding costs we continue to face.”
BOQ’s new standard variable home loan rate of 7.74% p.a. is effective from 17 November.
For details about or to apply for a Bank of Queensland Home Loan, drop in to your nearest Bank of Queensland branch or log on to the Bank's internet site at www.boq.com.au.