Bank Australia interest rate announcement - 28 September 2022

Bank Australia has today announced it will increase interest rates across its range of term deposit and savings products.

From Wednesday 28 September, term deposit rates will increase by between 0.15% to 1.00%, with rates on a 12 month term deposit increasing to 3.50%.

From Monday 3 October, Online Saver rates will increase by 0.50% for balances over $5,000. Bonus Saver and mySaver rates will also increase by 0.50%.

Customers will receive more information on these changes over the coming weeks.

For any help and further queries, customers can contact us on 132 888 or visit their nearest branch.

Term deposit rates*

• 3 month rate increased by 0.75% to 2.00%
• 6 month rate increased by 0.50% to 2.75%
• 12 month rate increased by 0.25% to 3.50%
• 24 month rate increased by 0.15% to 3.50%

*Interest rate is pa and paid at maturity