On Tuesday 2nd August the Reserve Bank of Australia (RBA) announced a 50-basis point increase to the official cash rate.
In response, we will be raising interest rates for both borrowers and depositors.
Our Variable Home Loan rates for existing mortgage customers will increase by 50-basis points, as will existing personal loans, including car loans, overdrafts and credit cards, effective from the 18th August 2022.
Customers will soon receive a letter in the mail outlining specific information in relation to their loan product/s and any relevant repayment changes.
Our lending specialists are here to support you during this time, 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 emailing [email protected]
On the same day, Bonus Saver customers will be receiving a 50-basis points increase on the bonus rate.
- Increases will also apply to the following deposit products:
- Cash Management account will be increased by 40-basis points
- Qantas Points Saver will be increased by 40-basis points
- QSaver will be increased by 40-basis points
- DIY Super Saver, the bonus rate will be increased by 40-basis points
- Retirement Savings Account will be increased by 40-basis points
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/news-tools-tips/calculators/
Published Monday, 8 August 2022
