March Interest Rate Change
3 March 10The Reserve Bank announced on Tuesday 2 March it would be increasing the official cash rate by 0.25%pa, up to 4%pa. As a result of this change Police & Nurses will also be increasing all variable home loan interest rates by 0.25%pa effective from Wednesday 10 March 2010.
Letters will be sent out on 24 & 25 March to all Police & Nurses members with loans that are affected by this change. Your letter will tell you the new interest rate applicable to your loan, what your minimum repayment level will increase to and the date it will become effective.
