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Rate cut announcement

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Following the Reserve Bank of Australia’s cash rate announcement last week, Gateway Bank will be passing on interest rate decreases in full to its Members.

Interest rates will decrease by 25 basis points, for new and existing Members on all of Gateway Bank’s variable owner-occupied and investment loans and a range of term deposit products, as well as our eMax Saver and Edge Accounts. This change will come into effect on 25 June 2019.

Whist our rates will be changing, Members that have existing Term Deposits will enjoy the benefit of having their current rate “fixed”. This means that the existing, agreed rate will be honoured until the Term Deposit reaches its next maturity date.

Members with fixed rate home loans will also not experience any rate changes, until the maturity date of the fixed period.

If you have any questions or would like to speak to someone about the changes, please feel free to contact our Member Care team on 1300 302 474 or email us.