Following the RBA cash rate cut to a record low 1.00%pa, P&N are now carefully assessing market conditions to determine the potential impacts of a rate change for both our borrowers and depositors.
We understand members are waiting to hear the outcome of P&N’s response. We will provide an update as quickly as possible.
As a customer-owned bank, P&N exists to provide competitive rates to all our members at all times, while maintaining a small margin to operate the bank.
Whether you are a borrower or a depositor, we are confident that a market assessment of like for like products will demonstrate that P&N’s rates remain competitive.
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