Effective 20 August 2024, we decreased our Residential variable and revolving credit interest rates as follows:
- A 0.25% decrease to the special variable rate and the standard variable rate.
- A 0.25% decrease to the revolving credit rate
Because our rates have decreased, the applicable interest rate for customers:
- with existing lending in place as at 20 August 2024; and
- whose current interest rate* is made up of one of the rates that is decreasing,
will decrease by the same amount as the decrease in the relevant rate (this includes where a margin or discount is applied to your loan).
The decreases for these customers will be effective from 3 September 2024. The table below shows the change in variable and revolving credit interest rates for customers with existing lending in place as at 20 August 2024.
| Until 2 September 2024 | From 3 September 2024 | ||||
|---|---|---|---|---|---|
| Special variable rate | Until 2 September 2024 | 8.64% p.a. | From 3 September 2024 | 8.39% p.a. | |
| Standard variable rate | Until 2 September 2024 | 9.44% p.a. | From 3 September 2024 | 9.19% p.a. | |
| Revolving credit rate | Until 2 September 2024 | 8.74% p.a. | From 3 September 2024 | 8.49% p.a. |
Helpful information to know
- The changes do not apply to fixed interest rate loans.
- We’re happy to advise your specific rate and payment details on request.
Contact us
For more information, feel free to ask one of the team - we’re happy to help.
*See your home loan contract for information on which interest rate applies to your loan. Note that our special variable rate is generally available for customers who have a deposit of 20% or more.