From 15 November eligible new and existing owner-occupier customers can take advantage of P&N's market leading interest rate of 3.17%pa for loan to value ratios (LVR) of up to 95% of the property value.
P&N Bank has reduced its variable Simple Home Loan product interest rate by 0.50%pa to 3.17%pa (3.17%pa comparison rate) offering greater value to new and existing members in the lead up to Christmas. As at 12 November 2019 this is the best rate in market for home loan variable products with an offset feature, up to 95% LVR.
The P&N Simple product includes an optional 100% offset transaction account, no application fee, no ongoing monthly maintenance or annual fees, an optional credit card with a purchase rate matching the loan interest rate and a redraw facility.
In announcing the rate change, P&N Bank General Manager, Anna Pearce, confirmed that as a customer-owned bank, P&N is committed to providing their customers highly competitive variable rate options.
“We're very pleased to offer this market leading rate for this product category at a time when many WA families are focussing on their finances in the lead up to Christmas and summer holidays," Ms Pearce said.
"With the record low interest rate environment, there's no better time to review your existing home loan rates and compare the value that you're receiving.
“There are many headline rates being advertised that are not always what they seem, so I genuinely encourage everyone to compare like for like product features and not just the advertised rates.
"The P&N lending team can help by undertaking a full lending assessment forexisting and new customers and can be contacted on 13 25 77.”
*For owner-occupier borrowings up to 95% of the property value.
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