On the 7th of March 2023, the Reserve Bank of Australia (RBA) announced a 25-basis point increase to the official cash rate.
In response, we will be raising interest rates for both borrowers and depositors from Thursday 23rd March.
Our Variable Home Loan rates for new and existing mortgage customers will increase by 25-basis points, effective from Thursday 23rd March. This includes all owner occupier, investment, and mortgage linked loans.
Our Secured Car Loan rates for existing and new customers will also increase by 25-basis points, effective from Thursday 23rd March.
Customers will soon receive a letter in the mail outlining specific information in relation to their loan product/s and any relevant repayment changes. Repayment changes will become effective from Thursday 27th April 2023.
Our lending specialists are here to support you, so if you have any questions about your loan, please send us a Secure Mail message via Online Banking or the App.
If your circumstances have you facing financial uncertainty, or you’re concerned about meeting your loan obligations, we encourage you to contact our Financial Assistance team by sending us a secure email via Online Banking or the Mobile App.
On Thursday 23rd March, Bonus Saver and DIY Super Saver customers will be receiving a 25-basis points increase on the bonus rate.
A 25-basis point increase will also apply to the Cash Management account, Qantas Points Saver, QSaver and Retirement Savings Account.
Various increases will also apply to our Term Deposit rates, which will become effective Thursday 16th March.
To help you plan ahead, we have a range of calculator tools that may assist you in managing your budget, estimating your loan repayments and more, please visit qudosbank.com.au/calculators/
In addition to our calculators, we also publish useful financial literacy articles on our blog.
Published Wednesday, 15 March 2023
