BOQ Announces Interest Rate Changes

Thursday, 4 July 2019

Bank of Queensland (BOQ) today announced it will reduce all variable home loan interest rates by 0.15 per cent, per annum, effective Tuesday, 23 July 2019. 

“The decision to adjust interest rates is never easy and we have carefully weighed up a number of significant factors ahead of today’s announcement, including the current operating environment and broader economic trends,” said Lyn McGrath, Group Executive of Retail Banking. 

“With interest rates now at historical lows, it is critical that we balance our ongoing support for borrowers with those of our depositors,” said Ms McGrath.

For customers looking for greater certainty around their home loan repayments, BOQ continues to offer a range of leading fixed rates, including a new three year fixed rate of 2.99 per cent per annum. BOQ has also extended the bank’s $1,000 First Home Buyer Cashback offer for applications submitted up until Saturday 31 August 2019.