Bendigo Bank announces interest rate drop

Bendigo Bank is the latest lender to hand down variable interest rate cuts to all new and existing home loan customers.

Cutting rates by 0.25 bps to 4.10 per cent, the lender has implemented the full recommendation from the Reserve Bank.

The interest rate cut will come into effect from 7 March 2025.

“We know many of our lending customers welcomed the RBA’s recent decision to cut interest rates for the first time since November 2020. We’re pleased to pass on the full benefit of this cut to homeowners,” said Bendigo Bank’s chief customer officer for consumer banking, Taso Corolis.

Bendigo Bank joins a slew of other lenders, including each of the majors, who began cutting rates immediately following the central banks decision to cut rates by 25 bps.

Of all the banks Broker Daily has reported on cutting rates, each has implemented the full 0.25 per cent.

To see which other lenders have dropped rates in line with the RBA's decision, visit the articles below:

Lenders begin to drop rates after RBA cut

More lenders pass along interest rate cuts

Jack Campbell is the editor of Broker Daily. After graduating from the University of Wollongong in 2022, Jack began his journalistic career working on Broker Daily’s sister brand, HR Leader. In August 2023 he was made the news editor and worked alongside some talented journalists writing articles and recording podcasts.

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