BOQ Announces Variable Interest Rate Changes
Friday, 4 October 2019
Bank of Queensland (BOQ) today announced changes to its variable home loan interest rates.
BOQ’s variable interest rate for Owner Occupiers and Investors making Interest Only repayments will be reduced by 0.25 per cent, per annum. The variable interest rate for Owner Occupiers and Investors making Principal and Interest repayments will be reduced by 0.10 per cent, per annum. These changes will take effect Friday, 25 October 2019.
Lyn McGrath, Group Executive of Retail Banking, said: “This is a decision BOQ has carefully considered, balancing the needs of our customers in this historically low interest rate environment.”
“The changes announced today will offer repayment relief to all of BOQ’s home lending customers, with a view to helping more Australian families own their own home sooner,” said Ms McGrath.
For customers who require more certainty around their repayments, BOQ also continues to offer a range of competitive fixed rates on new lending over $150,000 for both Owner Occupiers and Investors.