Terms and conditions update: From 24 August, we're updating our Savings Account and Payment Services T&Cs, including transaction and payment limits. Learn more.
At settlement, if the usual fixed rate is lower than the locked in rate, you'll receive the lower rate. For example, a rate locked at 3.99% on the 5 October, settlement occurs 12 November and the usual rate on the 12th is 3.69%, you'll receive the 3.69%.