Adelaide Bank reduces variable rates by 25 basis points

By Your Mortgage

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.