News

notice of loan and deposit rate changes

We’ve made changes to our loan and deposit products.

For loan customers:

The Reserve Bank of Australia met on Tuesday 2 May 2023 and made the decision to increase the Cash Rate by 0.25% to 3.85%. As the cash rate is one factor that affects our cost of funds, we have made the decision to increase our home loan variable interest rates by 0.25% p.a. effective from 24 May 2023.

Deposit product changes:

We have also made the decision to increase our interest rates across our deposit products, with changes to our term deposits, Everyday Plus account and our Saver product.

Our personal term deposit products:

Term Interest annually ($1,000+)
1 month 1.50%
2 month 1.50%
3 month 2.75%
4 month 2.50%
5 month 2.50%
6 month 3.25%
7 month 3.00%
8 month 3.00%
9 month 3.00%
10 month 3.00%
11 month 3.00%
12 month 4.00%

Our business term deposit products:

Term Interest annually ($1,000+)
1 month 1.25%
2 month 1.25%
3 month 2.50%
4 month 2.25%
5 month 2.25%
6 month 3.00%
7 month 2.75%
8 month 2.75%
9 month 2.75%
10 month 2.75%
11 month 2.75%
12 month 3.75%

Everyday Plus:

Balance Interest Rate
$0 - $249,999 1.65%
$250,000+ 2.00%

Saver:

Balance Interest Rate
$0 - $99,999 2.50%
$100,000+ 0.05%

Rates as at 24 May 2023 and are subject to change

We’re here to help

Our team are on hand to assist any and all customers. We are mindful that some of our customers may be experiencing financial difficulties. If you are one of them, please contact us to discuss alternative arrangements. You can apply for financial assistance here or call us. We understand that many of our customers may have questions about the changes. If you’d like to speak to a team member, please call us on 1300 132 249.

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