Rates Announcement – 24th August

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.