Interest rate announcement - 12 August 2022. Bank Australia will increase variable home loan and commercial variable rates in response the RBA’s recent decision to raise the official cash rate. From 18 August 2022, interest rates will increase by 0.50% for variable rate owner-occupier and investor loans, while commercial variable rate loans will also increase by 0.50%. For existing home loan customers, repayment changes will be effective from 1 October 2022. Read more here.
We work to make a positive impact for people and the planet, and this past year has been no exception. By banking together, we can make the world a better place.
We continue to create and keep jobs in Australia, and we don't off shore.
40% Metro Victoria
37% Regional Victoria – Gippsland
9% Regional Victoria – Western
14% QLD / SA / ACT / NSW
In 2021 we offset the total estimated emissions from the vehicles we finance with our car loans for the life of the loan. We currently do this by forward-purchasing certified emissions reductions from a project in Victoria focused on conservation and protection of endangered species, including the Brush-tailed Phascogale.
Bank Australia was the first Australian bank to join the Global Alliance for Banking on Values (GABV).
Criteria includes:
✓ Genuine commitment to social or environmental change
✓ Triple bottom line commitment to People, Planet, and Prosperity
The way we see it, the awarding of bonuses to drive sales increases the risk of unethical behaviour that may negatively impact customers. That’s why we don’t pay bonuses to our executives or employees.
For the first time, our Conservation Reserve partner the Barengi Gadjin Land Council conducted a full cultural burn at our property. The cool, low intensity burn will assist with the rebuilding of fire management knowledge lost since colonisation and help to manage fire risk.
We’ve been carbon neutral since 2011 and we’re certified by the Australian Government’s Climate Active program (formerly National Carbon Offset Scheme).
Our commitment to climate-friendly financing and products saw us awarded Australia’s Greenest Bank by Finder in 2021 for the second year in a row.
Criteria includes:
Our environmental impact – like sourcing 100% renewable electricity
Our investments and products – like who we do and don’t lend money to
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So far we’ve allocated 194,087m2 of land on our conservation reserve to protect an area equal to the size of the building lots of all the construction loans we financed during 2021.
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We planted over 5,900 Buloke trees to support healthy populations and provide future food for the South Eastern Red-tailed Black-Cockatoo at our Conservation Reserve.
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At Bank Australia we respectfully acknowledge the Traditional Custodians of all the lands on which we work and pay our respects to the elders past present and emerging. Our head office is located on the land of the Wurundjeri people of the Kulin nation. We recognise their continued connection to the land, waters and culture and we acknowledge their sovereignty has never been ceded. We acknowledge the constant resistance and resilience of First Nations people in their fight for self-determination.
We support the Uluru Statement from the Heart to achieve justice, recognition and respect for First Nations people and a referendum to enshrine a First Nations Voice in the Constitution. We see reconciliation as a fundamental responsibility for Bank Australia and we are committed to advancing reconciliation with Australia’s First Peoples.
