Adelaide Bank has cut its SmartSuite home loan rates by 25 basis points.
The variable interest rate for the SmartSuite option SmartFit has decreased to 5.31% from 5.56%. Its comparison rate is now 5.46%, down from 5.71%.
SmartFit home loans have a transactional 100% offset account that shows customers what they owe and own, because the offset balance is displayed separately.
There were also falls by 25 basis points to SmartSuite’s other options, including:
- Variable Smartsaver: now 5.21% (comparison rate 5.25%);
- Variable SmartDoc: now 6.41% (comparison rate 6.56%); and
- Variable SmartDoc Plus: now 6.66% (comparison rate 6.81%)
The changes are effective Monday, 26 August.