Auswide Bank's managing director Martin Barrett said the bank
Auswide Bank's managing director Martin Barrett said the bank "would do as much of the heavy lifting as they could” when it came to switching financial institutes. Ashley Clark

Auswide takes on big 4 banks with Bundy blitz

IT'S time for Bundabergians to break up with their bank and get a better deal locally.

In a new campaign, Blitzing Bundaberg, locals will get an exclusive, and better, deal as Auswide offers lower rates on home loans and personal loans.

It's only available for those who live within the postcodes 4670, 4660 and 4671.

Speaking with the NewsMail, Auswide Bank's managing director Martin Barrett said the bank "would do as much of the heavy lifting as they could” when it came to switching financial institutes.

"Bundy is where our head office is and our home town,” he said.

"We want to support the community and return profits to the community.”

Mr Barrett said there had been a number of disappointing stories about the big banks in the news in recent times and it was now time to take action.

Many horror stories have emerged from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

"Our opinion is the big four banks have occupied a unique place and have been provided a guarantee from the government for too long,” he said.

"It dictates poor behaviour not in the best interest of customers.”

Mr Barrett said it would wait and see as to what the end result of the Royal Commission would be, but believed there would be more findings rolled out in February's final reports.

Auswide Bank started in Bundaberg more than 52 years ago and Mr Barrett believes by switching over, customers would receive "big savings”.

"Every per cent (higher) is just more profits the bank gets,” he said.

"The aim is to give Bundabergians a better deal.

"We see customers as individuals and not as numbers.

"For those who haven't heard of what we have to offer, we ask them to give it a shot.”

The offer would give local owner-occupied homes a variable loan variable rate of 3.6 per cent and comparison rate of 4 per cent.

According to Finder.com.au yesterday, standard home loan rates for the Big Four banks were:

NAB's variable rate was 4.17 per cent and comparison was 4.21 per cent

CBA's variable was 5.37 per cent and comparison of 5.51 per cent

ANZ's variable was 5.36 per cent and comparison of 5.46 per cent

Westpac's variable was 4.73 per cent and comparison of 4.78 per cent

The Auswide offer will also include $500 cash back offer on home loans settled before the end of December.