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IMB Bank has announced that it has increased the interest rate on its commercial variable loans by 10 basis points as a result of “increased costs of funding”.
The changes apply to existing business banking, commercial and SMSF fully drawn variable loans.
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The fully drawn business loan (commercial security) rates now start from 4.89 per cent, while fully drawn business loan (residential security) start from 4.39 per cent.
Interest rates on self-managed superannuation fund loans are available on application.
[Related: Lender’s SME loan product swells by 52%]
