MOVE Bank is committed to offering members great value across our lending, investment and deposit product ranges.
With this in mind we will be making some changes to our interest rates, effective 1 November 2020.
Fixed Rate New Car Loan
To ensure we are offering members our best rate possible and to maintain our competitive position within the market, we have made the decision to reduce the interest rate on our New Fixed Rate Car Loan by 0.30%.
Effective 1 November 2020
|
Product |
New Rate |
|
4.59% | 4.86%* (Comparison rate) |
Deposit Interest Rates
Due to the record low interest rate environment and narrowing margin between the interest earned on loans and paid on our deposits, we’ve made the difficult decision to reduce interest rates on our Bonus Saver and Term Deposits.
Despite the rate reductions, our savings accounts continue to offer great value with our Express Saver and Bonus saver recognised with prestigious awards from Canstar and Rate City.
Effective 1 November 2020
Bonus Saver#
- Base rate: 0.20% p.a.
- Maximum rate^: 1.20% p.a.
Term Deposits
|
Term Deposits |
Current Rate |
New Rate |
|
I3 3 Months |
0.85% |
0.80% |
|
I4 4 Months |
0.80% |
0.70% |
|
I5 5 Months |
0.80% |
0.70% |
|
I6 6 Months |
0.95% |
0.90% |
|
I7 7 Months |
0.90% |
0.85% |
|
I8 8 Months |
0.90% |
0.85% |
|
I9 9 Months |
0.90% |
0.85% |
|
I10 10 Months |
0.90% |
0.85% |
|
I11 11 Months |
0.90% |
0.85% |
|
I12 12 Months (int @ mat) |
1.05% |
1.00% |
|
I13 13 to 14 Months |
1.05% |
1.00% |
|
I30 15 to 24 Months |
1.10% |
1.05% |
|
I40 12 to 14 Months (int mthly) |
0.95% |
0.90% |
|
I50 15 to 24 Months (int mthly) |
1.00% |
0.95% |
If you have any questions about these changes, please email us at info@movebank.com.au or call us on 1300 362 216.
Interest rates subject to change. All rates quoted are per annum (p.a.). *Loan is not available for private sales. The comparison rate is based on a secured loan of $30,000 for a term of 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Fees and charges apply. Rates quoted are correct as stated and are subject to change without further notice. All rates quoted are per annum. All applications are subject to MOVE’s standard credit assessment and eligibility criteria. #The Bonus Saver is suspended from 9 October 2020 and not available for new accounts. ^Bonus interest rate applied on balances up to $250,000 when the account holder makes a minimum deposit of $200 and no withdrawals within a calendar month. Otherwise the base interest rate will apply.
