P&N Bank has increased the variable interest rate on its & Home Loan by 0.10% p.a. effective today, Tuesday 24 January 2017.
"The difficult but necessary decision to change the rate reflects recent increases to funding costs and has been made so that we can continue to provide value to all our members." said CEO Andrew Hadley
"In the current market, our & Home Loan remains competitively priced."
Effective Tuesday 24 January 2017, the variable interest rate applicable to the & Home Loan is 3.99% p.a.
Members with an & Home Loan of $250,000 can expect to see their repayments increase by $14 a month (principal and interest home loan over 30 years).
Detailed information on changes to individual repayments will be provided to members in writing next week.
If you have any questions about your loan or your new repayment, please call us on 13 25 77 or email [email protected]
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