Interest Rate Increase - Tuesday 24 March 2026: Following the RBA’s decision to change the official cash rate, interest rates for owner-occupier, investor and commercial variable loans will increase by 0.25%, effective 1 April 2026. From 1 April 2026, deposit rates across the majority of savings products will also increase by 0.25%. Find out more.
We're updating our deposit accounts to provide a consistent banking experience for all customers.
From 1 May 2026, we’re streamlining our range of products so that customers with similar products will now receive the same benefits and criteria across both Qudos Bank and Bank Australia.
This makes our products easier to understand, helps ensure everyone is treated fairly and supports more consistent service over time.
There is nothing you need to do. The changes will come into effect on 1 May 2026. To understand how these changes may impact your accounts, please see below.
If your savings needs have changed, you can explore our range of products and other ways to help you save on our website.
Effective from 1 May 2026 the below rates and tiers will be changing:
Balance | Rates effective 27 February 2026 (p.a.) | Rates effective 1 April 2026 (p.a.) |
|---|---|---|
Any balance | 0.00% | 0.00% |
Balance | Interest (p.a.) |
|---|---|
$0 - $49,999.99 | 0.00% |
$50,000+ | 0.05% |
Balance | Rates effective 27 February 2026 (p.a.) | Rates effective 1 April 2026 (p.a.) |
|---|---|---|
$0 - $4,999.99 | 0.01% | 0.01% |
$5,000 - $149,999.99 | 3.45% | 3.70% |
$150,000+ | 3.45% | 3.70% |
Balance | Interest (p.a.) |
|---|---|
$0 - $499,999.99 | 4.10% |
$500,000 - $1,999,999.99 | 4.20% |
$2,000,000+ | 2.50% |
Make a deposit of at least $100 and no withdrawals each month to get the below interest rate:
Balance | Rates effective 27 February 2026 (p.a.) | Rates effective 1 April 2026 (p.a.) |
|---|---|---|
$0 - $100,000 | 4.60% | 4.85% |
$100,000.01 - $250,000 | 4.25% | 4.50% |
$250,000.01 – $500,000 | 3.80% | 4.05% |
$500,000.01+ | 3.50% | 3.75% |
Balance | Interest (p.a.) |
|---|---|
Any balance | 0.10% |
Make a deposit of at least $100 and no withdrawals each month to get the below interest rate:
Balance | Interest (p.a.) |
|---|---|
$0 - $100,000 | 4.85% |
$100,000.01 - $1,999,999.99 | 4.50% |
$2,000,000+ | 2.50% |
Balance | Interest (p.a.) |
|---|---|
Any balance | 0.10% |
Term | Interest paid at maturity | Interest paid monthly |
|---|---|---|
3 months |  | N/A |
6 months | | |
9 months | | N/A |
12 months | | |
18 months | | |
24 months | | |
36 months | | |
Term | Interest paid at maturity | Interest paid monthly | Interest paid annually |
|---|---|---|---|
3 months | | N/A | N/A |
6 months | | | N/A |
9 months | | N/A | N/A |
12 months | | | N/A |
18 months | N/A | N/A | N/A |
24 months | N/A | | |
36 months | N/A | | |
From 1 May 2026, we're changing the way we calculate your interest adjustment if you withdraw funds prior to the end of term. The below table provides a guide on how the interest adjustment will apply.
For example, if your funds are invested for 70% of the agreed term, the prepayment adjustment to be applied will be 40%.
Percentage of term elapsed | Adjustment to be applied as a % of your interest rate |
|---|---|
0% to less than 20% | 90% |
20% to less than 40% | 80% |
40% to less than 60% | 60% |
60% to less than 80% | 40% |
80% to less than 100% | 20% |
Effective from 1 May 2026 the following products will no longer be available for new customers:
As we get closer to 1 May 2026, we’ll keep this page updated with the latest information to help you stay informed.
We’re bringing Bank Australia and Qudos Bank products together into one simplified, consistent product range. This means removing duplicate products and creating a single set of features, rates and tiers so banking is easier to understand across both banks.
Some older products will be closed and moved to modern equivalents. Deposit tier structures and interest rates will be aligned across both banks, which might mean different rates for some balances.
Some customers may move to a lower interest rate as we standardise tiers and product settings across both banks. If you’re affected, we have a range of modern products designed to help you get the best value going forward.
Information provided is of a general nature only. In providing you with this information you should consider the appropriateness of this advice with regards to your particular financial situation and needs. You should consult the Product Disclosure Documents below and Target Market Determination before making a decision to apply for products with Bank Australia.
Terms, conditions, and all fees and charges across our products are outlined below. We will update documents on 1 May 2026 where relevant.
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