Current as of 4 June 2020.
People’s Choice has adjusted rates following the recent extraordinary cut to the Reserve Bank’s cash rate.
While the cash rate is a key influence on our rates, we also consider regulatory requirements, funding costs and market demand when setting our rates. We have also considered the impact of Coronavirus.
People’s Choice reduced its fixed rate Home Loan Packages by between 60 and 70 basis points on 26 March 2020. Members can access a rate of 2.29% per annum for a one-year fixed home loan – down from 2.89% per annum.
These same cuts have flowed on to our fixed-term investor loans for both principal and interest and interest-only.
People’s Choice reduced its variable rates for Business Loans by 100 basis points on 26 March 2020. Rates for fixed term loans were reduced by up to 100 basis points for commercially-secured loans, and by up to 50 basis points for residentially-secured loans, excluding all business vehicle loans.
People’s Choice will also allow monthly interest payments on 12-month investments to be paid to another People’s Choice account to make life easier in coming months.
Terms & Conditions apply. See full details of our current rates at peopleschoicecu.com.au/rates. People's Choice Credit Union, 50 Flinders Street, Adelaide 5000, a trading name of Australian Central Credit Union Ltd ABN 11 087 651 125 AFSL, Australian Credit Licence 244310.
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