BOQ Increases Home Loan Interest Rates

Tuesday, 8 January 2019

BOQ today announced interest rates across a range of lending products will be increasing by between 11 basis points (bps) and 18 bps.

• The Economy Owner Occupier Principal and Interest rate is increasing by 11bps
• A number of other BOQ home loans and lines of credit rates are increasing by 18bps

While the changes affect a number of products, there is no change to BOQ’s Clear Path Owner Occupier Principal and Interest rates.

Lyn McGrath, Group Executive, Retail Banking said today’s announcement was a combination of a number of factors.

“Continuing funding cost pressures and intense competition for term deposits have contributed to this decision,” she said.

“While decisions like these are never easy, offsetting the impact of these costs ensures we balance the needs of our borrowers, depositors and shareholders,” she said.

The interest rate changes are effective Friday, 11 January 2019.

ENDS