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Example Interest Rates: Home Loan Variable: 2.87% (2.9%*) • Home Loan Fixed: 3.74% (3.48%*) • Fixed: 2.48% (2.94%*) • Variable: 2.84% (3.44%*) • Investment IO: 2.3% (3.76%*) • Investment PI: 2.04% (3.8%*)

1.15 – Bank of Melbourne Car Loan Customer Testifies at the Banking Royal Commission

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Nalini Thiruvangadam, a casually employed single mother-of-two, gives evidence about a car loan she took out with Bank of Melbourne (a Westpac subsidiary), including how the car dealer jacked up the interest rate above the minimum rate to receive a higher payment from the bank through an arrangement known as flex commissions. Recorded on 21 March 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.

Belief has archived all data made available by the Banking Royal Commission with information available on our blog, in Yabber, or via the BRC API.

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