Category: Latest News

We’re really pleased to let you know that we’re increasing the interest rates on our U30 Super Charge savings account.

U30 Super Charge

Effective 1st May 2023, members that own a U30 Super Charge savings account will see a 0.05% rate increase.

• From 4.50%p.a to 5.00%p.a

Members can achieve this rate across a maximum of three sub-accounts and a total of $30,000 when they elect to have their salary deposited to any Police Bank Account. To be eligible for this account, you have to be aged between 18-29 years old.

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.

We’re really pleased to let you know that we’re increasing the interest rates on some of our Term Deposit accounts.

Term Deposit

Effective 6th April 2023,members that own a 3, 4 & 6 month Term Deposit account will see an increase to their rate.

We will be increasing the Term Deposit rate for our 3 & 6 month accounts by 0.25%.

Our 4 month Term Deposit accounts will be increasing by 1.60%.

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.

We’re really pleased to let you know that we’re increasing the interest rates on our Bonus Saver and Retirement Plus accounts.

Bonus Saver

Effective 1st April 2023, members that own a Bonus Saver account will see an increase to their rate.

We will be increasing the Bonus Rate for our Bonus Saver account by 0.25%. The total available rate for Bonus Saver holders will be 3.55%.

Retirement Plus

Effective 1st April, we will be increasing the interest rate for Retirement Plus account holders by 0.25% bringing the total rate to 1.65%.

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 0.25% to 3.60% on March 7th, we have been reviewing the balance between passing on the interest rate rise to our borrowers as well as our deposit holders.

Variable Home Loans:
Effective 23rd March 2023 ,we have increased the interest rates for new variable home loan borrowers by 0.25%.

Effective 1st April , we will be increasing the interest rate for existing home loan borrowers (both Owner Occupier and Investment) by 0.25%, affecting repayments from 1 May 2023.

Personal Loans
Effective March 23rd 2023, we have increased the variable interest rate for new personal loans by 0.25%.

Effective 1st April , we will be increasing the interest rate for existing variable personal loan borrowers by 0.25%, affecting repayments from 1 May 2023.

Term Deposits
Effective 23rd March 2023 , we have increased our 12 month Term Deposits, our I12 Term Deposit has increased to 4% p.a. and our I24 Term Deposit has increased to 3.95% p.a.

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 3.35% on February 7th, we have been reviewing the balance between passing on the interest rate rise to our borrowers, term deposit holders, and members with savings accounts.

Home Loans:
Effective 28 February 2023 we have increased the interest rates for new variable home loan borrowers by 0.25%.

Effective March 1, we will be increasing the interest rate for existing home loan borrowers by 0.25%, affecting repayments on or after the 1st April.

Personal Loans
Effective March 1, we will be increasing the interest rate for existing variable personal loan borrowers by 0.25%, affecting repayments on or after the 1st April.

Following the Reserve Bank of Australia’s (RBA) decision to raise the cash rate by 0.25% to 3.35% on February 7th, we have been reviewing the balance between passing on the interest rate rise to our borrowers, term deposit holders, and members with savings accounts.

Term Deposit:

We have increased our 3-month Term Deposit rates by 0.25%, effective 17 February 2023.

Savings Accounts:

We will be increasing the rate for our U30 SUPER CHARGE account by 0.25%, bringing our new rate to 4.50%, from March 1, 2023.

We will be increasing the Bonus Rate for our Bonus Saver account by 0.25% on March 1 2023. Our new bonus rate becomes 3.25% on March 1, 2023. With this increase the total available rate for Bonus Saver holders will be 3.30%.

Personal Loans

Effective 17 February, we will be decreasing the interest rate for our Fixed Driveaway Car Loan by 0.20% to a new rate of 6.99%.

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.

Our Home Loan Establishment fee for all new home loan applications is changing to $600, effective from the 22nd of December 2022.

The latest version of our Schedule of fees and charges is available here.

Following the Reserve Bank of Australia’s (RBA) decision to raise the cash rate by 0.25% to 2.85% on November 1st, 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 15 November, we have increased the interest rates for new variable home loan borrowers by 0.25%.

Effective 1 December, we will be increasing the interest rate for existing home loan borrowers (both Owner Occupier and Investment) by 0.25%, affecting repayments from 1 January 2023.

Personal Loans

Effective 1 December, we will be increasing the interest rate for existing variable personal loan borrowers by 0.25%, affecting repayments from 1 January 2023.

Term Deposits

Effective 16 November, we will increase our term deposit rates for our 3, 5, 6 and 7-month Term Deposit Products as well as our 1, 2, 3, 4 and 5-year Term Deposit products.

For Our Monthly Products:

• Our 3-month product will increase by 0.20%, which will result in its new rate of 2.00%.
• Our 5-month product will increase by 1.50%, which will result in its new rate of 1.90%.
• Our 6-month product will increase by 1.20 to its new rate of 2.45%.
• Our 7-month product will increase by 0.05% to its new rate of 2.00%.
  

For Our Yearly Products:

• Our 1-year product will increase by 0.30% with its new rate therefore becoming 3.95%.
• Both our 2 and 3-year products will increase by 0.35% resulting in their new rate of 4.00%.
• Our 4-year product will increase by 0.40%, which will result in its new rate of 4.05%.
• Our 5-year product will increase by 0.45% with its new rate being 4.10%.

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.

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.