Newcastle Permanent reviews interest rates

Tuesday, 2 July 2019

Newcastle Permanent’s CEO Bernadette Inglis, announced today that, "Following the RBA’s decision to cut the official Cash Rate to an historically low 1.00%, we have placed our deposits and lending interest rates under review."

The Reserve Bank reduced the official cash rate by 0.25% to 1.00%. 

"Following the review of our interest rates, we will advise any customers who have products affected by any changes," Ms Inglis added.

"We understand that customers will be keen to know the outcome of our review, and expect to make an announcement shortly.

"Customers can be certain that we will continue to offer great value and award winning products and services, while balancing the needs of all of our customers when making a decision on interest rate movements. 

"Newcastle Permanent is a customer owned banking institution. We don’t pay dividends to shareholders, we retain all our profit within the business to maintain our outstanding financial strength and deliver value to our customers in the form of exceptional service, multi-award winning products and highly competitive interest rates," Ms Inglis said.