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Adelaide Bank announces rate cut

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Adelaide Bank has decreased its new fixed and variable loan rates on its broker-exclusive SmartSuite Commercial range by 75 basis points.

The bank has also halved the application fee on its Low Doc and Simple Doc products from 1% to 0.5% of the loan amount.

The move is the result of a recent review of the bank’s commercial offering, said Adelaide Bank’s General Manager of Third Party Lending, Damian Percy.

The entire SmartSuite range of products has a 25-year term, no annual reviews and a simple pricing structure.

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