Category: Interest Rates

Following the Reserve Bank of Australia’s (RBA) decision to raise the cash rate by 0.25% to 2.60% on October 4th, 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 24 October, we will be increasing the interest rate for new variable home loan borrowers by 0.25%.

Furthermore, our Fixed Owner Occupier loans will be increasing by 0.20% for our 1-year and 2-year periods whereas our 3-year term is increasing by 0.25%.

Also, our fixed investment terms will all increase by 0.30% for new borrowers.

Effective 1 November, we will be increasing the interest rate for existing home loan borrowers by 0.25%, affecting repayments from 1 December.

Personal Loans

Effective 1 November, we will be increasing the interest rate for existing variable personal loan borrowers by 0.25%, affecting repayments from 1 December.

Term Deposits

Effective 12 October, we have increased our term deposit rates for our 4, 7 and 9 Month Term Deposit products.

Our 4-month product will increase by 1.50% which will result in its new rate of 1.90%. Additionally, our 7 Month product will increase by 1.20% making the new rate 1.95%. Finally, our 9 Month product will increase by 0.35% to therefore make the new rate 2.05%.

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.

Following the Reserve Bank of Australia’s (RBA) decision to raise the cash rate by 0.25% to 2.60% on October 4th, we have been reviewing the balance between passing on the interest rate rise to our borrowers as well as our deposit holders.

Savings Accounts

Effective 12 October, we will be increasing the rate for our U30 SUPER CHARGE account by 1.10%, bringing our new rate to 3.60%.

Our Retirement Plus account will be increasing by 0.70% and our new rate becomes 1.40%.

Effective 1 November, we will be increasing the Bonus Rate for our Bonus Saver account by 0.75%, our new bonus rate becomes 2.80%. With this increase the total available rate for Bonus Saver holders will be 2.85%.

Our Dynamo Flex Account will be increasing by 0.70%, making our new rate 2.40%.

Term Deposits

Effective 12 October, we have increased our term deposit rates for our 1-5 year Term Deposit products.

Our 1-5 year Term Deposit rates will by 0.25% to therefore make the new rate 3.65%.

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.

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 and deposit holders. Effective September 28 we will be increasing our interest rates for our Home Loan products for new business only.

These changes will impact Gold Rate, Customs Value, Police Value and First Home Loans and ACT Land Rent products.

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.

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.

Following the Reserve Bank of Australia’s (RBA) decision to raise the cash rate by 0.50% to 1.85% on August 2nd, 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 7 September, we will be increasing the Interest rate for existing variable home loan borrowers by 0.50%, impacting repayments from 1 October.

Personal Loans

Effective 7 September, we will be increasing the Interest rate for existing variable personal loan borrowers by 0.50%, impacting repayments from 1 October.

Savings Accounts

Effective 1 September, members that own a S23 Bonus Saver and/or a S19 U30 SUPER CHARGE account will see an increase to their interest rate.

We will be increasing the Bonus Rate for our S23 Bonus Saver Account to 1.30%. The total available rate for S23 Bonus Saver holders will be 1.35%

We will also be increasing the interest rate available for S19 U30 SUPER CHARGE Account holders to 2.50%.

Term Deposits

Effective August 17, we increased our term deposit rates for our 3 month, 6 month, 9 month and 12 month term deposit product.

Our 3 month term deposit rate was increased by 0.55% to 0.95%.

Our 6 month term deposit rate was increased by 0.85% to 1.25%.

Our 9 month term deposit rate was increased by 0.70% to 1.70%.

Our 12 month term deposit rate was increased by 0.50% to 2.75%.

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.

Following the Reserve Bank of Australia’s (RBA) July 2022 decision to raise the cash rate by 0.50%, we have been reviewing the balance between passing on the interest rate rise to our borrowers, while also considering our deposit holders.

Border Bank has made the decision to raise the variable interest rate for home loan borrowers by 0.50%, effective 14 July , 2022 for new borrowers and effective 1 August 2022 for existing borrowers.

We are also increasing the interest rates for some of our Personal Loan products by 0.50% effective 14 July 2022.

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.

Effective Wednesday 13 July 2022, we will be updating our Financial Services Guide and website to incorporate the changes listed below.

The changes predominantly involve the separation of our Financial Services Guide and our Terms and Conditions.

Our Financial Services Guide.

• Our Financial Services Guide has now been summarised and shortened.

Our Terms and Conditions

• We have introduced a new Terms and Conditions Guide. This Guide now incorporates’
  • Banking product summaries
  • Membership terms and conditions
  • General terms and condition applicable on products
  • Privacy, complaints, information and compliance terms and conditions
  • Specific terms and conditions
  • Financial hardship assistance terms and conditions.

The latest versions of our Financial Services Guide and Terms and Conditions are available here.

The team at Border Bank is currently reviewing the RBA’s decision on Tuesday July 5, 2022 to increase the cash rate by 50 basis points.

As with any rate decision, we will carefully consider the potential impact of changes on our members.

We will communicate any changes we make in the coming days.

Border Bank is here to help, and we are always available to help any member who experiences financial hardship or difficulty. 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.

Following the Reserve Bank of Australia’s (RBA) June 2022 decision to raise the cash rate by 0.50%, we have been reviewing the balance between passing on the interest rate rise to our borrowers, while also considering our deposit holders.

Border Bank has made the decision to raise the variable interest rate for home loan borrowers by 0.50%, effective 27 June, 2022 for new borrowers and effective 1 July 2022 for existing borrowers.

We have already increased our Term Deposit rates with our 9-month Term Deposit rate increasing by 0.55% to a very competitive 1% and our 12-month Term Deposit rate increasing by 0.95% to 2%.

We are also increasing the interest rates for some of our Personal Loan products from between 0.70% to 1%, effective 27 June 2022.

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.