Interest Rate Changes
Wednesday, 25 March 2020
In response to the RBA rate cut last week, we have reviewed our home loan and deposit rates and will be making the following changes effective from Thursday 2nd April.
Rate change summary
- a 0.15% increase to all new 3 to 12 month fixed rate term deposits.
- a 0.10% decrease to all existing variable rate mortgages;
- a 0.10% decrease to all existing and new other variable rate loans (excluding credit cards);
- a 0.30% decrease to all new 1 to 3 year fixed rate loans (including Qantas points car loans);
- a 0.10% decrease to all new 4 and 5 year fixed rate loans;
Decisions about reducing interest rates are not straight forward and we must carefully weigh the impact on all of our customers, both borrowers and depositors whilst also considering the current economic environment.