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Bank Australia lifts interest rates on term deposit, transaction and savings products

August 11, 2023
August 19, 2022

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

From 18 August, term deposit rates will increase by as much as 0.50% on 9 month term deposits.

From 1 September, Online Saver will increase by 0.30% for balances over $5,000. Bonus Saver and mySaver rates will also increase by 0.25%. Our Everyday Access and Commercial Access will earn 0.05% for balances between $5,000 - $49,999 and 0.10% for balances over $50,000.

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 0.25% to 1.25%
  • 6 month rate increased by 0.25% to 2.25%
  • 9 month rate increased by 0.50% to 2.75%
  • 12 month rate increased by 0.25% to 3.25%
  • 24 month rate increased by 0.35% to 3.35%

*Interest rate is pa and paid at maturity

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