Posted on August 17th, 2016
Following the recent RBA decision to cut the Official Cash Rate to 1.50%, The Capricornian is pleased to advise that it is reducing the rates on our suite of home and investment loans.
From Monday 15 August 2016, our variable rate home and investment loan rates will be cut by 0.10% p.a. Our 2 and 3 year fixed rate home and investment loans have also been reduced by 0.10% p.a.
“We’re excited to be passing these competitive rates on to our members to help them every step of their way; whether they’re just entering the market, looking to get ahead on their repayments or hoping to expand their portfolios,” said The Capricornian’s General Manager, Lending Graeme Kemp.
“To see an increasing number of people choosing a local credit union in favour of the big four ensures we can keep offering unique benefits for our valued members – competitive and flexible products that respond to our members’ changing needs while continuously reinvesting profits directly into the communities in which they reside.”
Our existing variable rate home and investment loan members will receive the interest reduction on 29 August 2016 with the new monthly repayment included in next month’s loan statement.
Whether you’re still saving for that dream house or enjoy watching your money grow, we’ve got great news with our 12 month Term Deposits getting a 0.35% increase on the interest rate.
What does this mean for you?
Our range of home loan products is highly competitive in the market, providing strong competition against the major banks. As a member of The Capricornian, you can enjoy our low rates and all of the great features and benefits of choosing to bank, your way.
We’re here to help
To make the most of the latest rate cuts and find out more information about how they affect your home loan, contact your local Branch Manager, our Member Connect Team on 1300 314 900, or visit your nearest branch today.
You can view the changes to the variable and fixed rates here.