Interest Rate Increase – Tuesday 24 March 2026: Following the RBA’s decision to change the official cash rate, interest rates for owner‑occupier and investor variable loans will increase by 0.25%, effective 1 April 2026. From 1 April 2026, deposit rates across the majority of savings products will also increase by 0.25%. Find out more.

Updates to our deposit accounts

We're updating our deposit products to provide a consistent banking experience for all customers.
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What's happening?

From 1 May 2026, we’re streamlining our range of products so that customers with similar products will now receive the same benefits and criteria across both Qudos Bank and Bank Australia.

This makes our products easier to understand, helps ensure everyone is treated fairly and supports more consistent service over time.

What do you need to do?

There is nothing you need to do. The changes will come into effect on 1 May 2026. To understand how these changes may impact your accounts, please see below.

If your savings needs have changed, you can explore our range of products and other ways to help you save on our website.

Transaction accounts

Effective from 1 May 2026 the below rates and tiers will be changing:

General Savings Account

Current rates

Balance
Rates effective 19 February 2026
Rates effective 1 April 2026
$0 - $50,000
0.00% p.a
0.00% p.a
$50,000 - $99,999.99
0.05% p.a
0.05% p.a
$100,000 - $249,999.99
0.05% p.a
0.05% p.a
$250,000 - $499,999.99
0.05% p.a
0.05% p.a
$500,000 - $999,999.99
0.05% p.a
0.05% p.a
$1,000,000+
0.05% p.a
0.05% p.a

Proposed rates

Effective 1 May 2026

Please note, the proposed rates are subject to change.

Balance
Interest Rate
$0 - $49,999.99
0.00% p.a
$50,000+
0.05% p.a

Savings accounts

Effective from 1 May 2026 the below rates and tiers will be changing:

Bonus Saver

Current rates

Effective 19 February 2026

Balance
Base Rate
Bonus* Rate
Maximum Rate
Any balance
0.05% p.a
4.20% p.a
4.25% p.a

Effective 1 April 2026

Balance
Base Rate
Bonus* Rate
Maximum Rate
Any balance
0.05% p.a
4.45% p.a
4.50% p.a

*Bonus rate applied if no withdrawals are made during the calendar month.

Proposed rates

Effective 1 May 2026

Please note, the proposed rates are subject to change.

Balance
Base Rate
Bonus# Rate
Maximum Rate
$0 - $100,000
0.10% p.a
4.75% p.a
4.85% p.a
$100,000.01 - $1,999,999.99
0.10% p.a
4.40% p.a
4.50% p.a
$2,000,000+
0.10% p.a
2.40% p.a
2.50% p.a

# Make a deposit of at least $100 and no withdrawals each calendar month to get the maximum rate.

QSaver

Current rates

Balance
Rates effective 19 February 2026
Rates effective 1 April 2026
$0 - $500,000
3.85% p.a
4.10% p.a
$500,000+
3.95% p.a
4.20% p.a

Proposed rates

Effective 1 May 2026

Please note, the proposed rates are subject to change.

Balance
Interest Rate
$0 - $499,999.99
4.10% p.a
$500,000 - $1,999,999.99
4.20% p.a
$2,000,000+
2.50% p.a

Term deposits

Current terms

Effective 24 March 2026

The terms in the table below have a minimum deposit amount of $5,000, except for the 3 month term which has a minimum deposit amount of $2,000.
These term deposits have the option of interest paid monthly (all terms), at maturity (terms < 12 months) or annually and at maturity (terms > 12 months).
New and renewed term deposit are not available for 5, 7 and 11 month terms.

Term
Interest paid at maturity
Interest paid monthly
Interest paid annually
3 months
✓
✓
N/A
6 months
✓
✓
N/A
9 months
✓
✓
N/A
12 months
✓
✓
N/A
24 months
N/A
✓
✓
36 months
N/A
✓
✓

Proposed terms

Effective 1 May 2026

Minimum deposit amount of $500.

Term
Interest paid at maturity
Interest paid monthly
Interest paid annually
3 months
✓
N/A
N/A
6 months
✓
✓
N/A
9 months
✓
N/A
N/A
12 months
✓
✓
N/A
24 months
N/A
✓
✓
36 months
N/A
✓
✓

Frequently asked questions

As we get closer to 1 May 2026, we’ll keep this page updated with the latest information to help you stay informed.

What’s changing and why are you aligning products?

We’re bringing Bank Australia and Qudos Bank products together into one simplified, consistent product range. This means removing duplicate products and creating a single set of features, rates and tiers so banking is easier to understand across both banks.

Will my specific product or rate change?

Some older products will be closed and moved to modern equivalents. Deposit tier structures and interest rates will be aligned across both banks, which might mean different rates for some balances.

Why has my rate decreased?

Some customers may move to a lower interest rate as we standardise tiers and product settings across both banks. If you’re affected, we have a range of modern products designed to help you get the best value going forward.

Important Information

The information on this page has been prepared without taking into account any person’s financial situation, needs and objectives. Before you make any decisions you should consider whether it is right for you and seek independent legal, financial and taxation advice.

You should read our Terms and Conditions for Savings Accounts and Payment Services and Financial Services Guide before deciding whether to obtain any of our financial products or services. Target Market Determinations available here.

Terms, conditions, and all fees and charges across our products are outlined below. We will update documents on 1 May 2026 where relevant.

Terms and Conditions for Savings Accounts and Payment Services
Fees and charges
Bonus Saver Target Market Determination
General Savings Account & 100% Offset Account Target Market Determination
QSaver Target Market Determination
Term Deposit (Interest Paid at Maturity) Target Market Determination
Term Deposit (Interest Paid Monthly) Target Market Determination
Supplementary Terms and Conditions for Term Deposits