In response the RBA’s decision to increase the official cash rate by 0.25%, we will increase variable home loan rates by 0.25% for customers effective from 25 May 2022. This change applies to owner occupier and investor loans.
Bank Australia Managing Director Damien Walsh said that in making this decision we have thoroughly considered the impact of these changes on our customers.
“We have a number of support options available for any customers that are experiencing difficultly or are concerned about the impact of rising interest rates and repayments, and we encourage you to contact us to talk about your situation.”
We believe our interest rates overall remain very competitive in the wider market place, and we will continue to work hard to make sure that this remains the case.
Affected customers will receive more information on the changes to their rate and repayments in the coming weeks.