Yes, this is an additional increase to the previous rate change
FAQs about Changes to Your Mortgage Interest Rate
Why is JN Bank increasing my interest rate again?
Interest rates, locally and overseas, have continued to rise dramatically, resulting in increases in the cost of providing services generally. As a result, it has now become necessary to conduct another review of the rate we offer to you. We remain committed to ensuring that you enjoy a fair rate on your loan.
How much will the interest rate on my mortgage increase by?
We will be sending you a letter confirming the new rate for your mortgage. The letter will also outline your new monthly payments.
When will this new rate take effect?
The exact date of your rate change, including your new rate and monthly payment, will be outlined in a letter to you. You should receive this letter approximately one month prior to the due date of your new payment.
How can I get more information concerning this increase in my rate and monthly payments?
We, invite you to have a conversation with us. You may send an email to loanservices@jnbank.com.
