Rates Announcement – 21st September

Following the Reserve Bank of Australia’s (RBA) decision to raise the cash rate by 0.50% to 2.35% on September 6th, we have been reviewing the balance between passing on the interest rate rise to our borrowers as well as our deposit holders.

Home Loans

Effective 1 October, we will be increasing the Interest rate for existing variable home loan borrowers by 0.50%, affecting repayments from 1 November.

Personal Loans

Effective 1 October, we will be increasing the Interest rate for existing variable personal loan borrowers by 0.50%, affecting repayments from 1 November.

Savings Accounts

Effective 1 October, members that own a S23 Bonus Saver account will see an increase to their interest rate.

We will be increasing the Bonus Rate for our S23 Bonus Saver Account by 0.75%, therefore, making our new bonus rate 2.05%. The total available rate for S23 Bonus Saver holders will be 2.10%.

Term Deposits

Effective September 21, we have increased our term deposit rates for our 12 month term deposit product.

Our 12-month term deposit rate was increased by 0.25% to 3.00%.

We are here to help, and we encourage any member who may need help to get in touch with our team on 132 267 so we can tailor a financial solution for them.