Effective Tuesday 3 December 2024, we decreased our residential variable and revolving credit interest rates.
Effective Tuesday 3 December 2024, we decreased our Residential variable and revolving credit interest rates as follows:
- A 0.50% decrease to variable rates
- A 0.50% decrease to the revolving credit rate
Because our rates have decreased, the applicable interest rate for customers:
- with existing lending in place as at Tuesday 3 December 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 Tuesday 10 December 2024. The table below shows the change in variable and revolving credit interest rates for customers with existing lending in place as at Tuesday 3 December 2024.
| Until 9 December 2024 | From 10 December 2024 | ||||
|---|---|---|---|---|---|
| Special variable rate | Until 9 December 2024 | 7.89% p.a. | From 10 December 2024 | 7.39% p.a. | |
| Standard variable rate | Until 9 December 2024 | 8.69% p.a. | From 10 December 2024 | 8.19% p.a. | |
| Revolving credit rate | Until 9 December 2024 | 7.99% p.a. | From 10 December 2024 | 7.49% 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.