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Newcastle Permanent reviews interest rates following RBA announcement.

Tuesday, 1 October 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 0.75%, we have placed our deposit and lending interest rates under review.”

The Reserve Bank reduced the official cash rate by 0.25% to 0.75% p.a.

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

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

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

“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 customers in the form of exceptional service, multi-award-winning products and highly competitive interest rates,” Ms Inglis said.

Newcastle Permanent House Logo written in sand

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