Effective 1 September
Effective 1 September, we increased our Residential variable and revolving credit interest rates as follows:
- A 0.50% increase to the special variable rate and the standard variable rate
- A 0.50% increase to the revolving credit rate
Because our rates have increased the applicable interest rate for customers:
- with existing lending in place as at 1 September and
- whose current interest rate* is made up of one of the rates that is increasing
will increase by the same amount as the increase in the relevant rate (this includes where a margin or discount is applied to your loan).
The increases for these customers will be effective from 22 September. The table below shows the change in variable and revolving credit interest rates for customers with existing lending in place as at 1 September.
| Term | Until 21 September | From 22 September | |||
|---|---|---|---|---|---|
| Term | Special variable rate | Until 21 September | 6.25% p.a. | From 22 September | 6.75% p.a. |
| Term | Standard variable rate | Until 21 September | 7.05% p.a. | From 22 September | 7.55% p.a. |
| Term | Revolving credit rate | Until 21 September | 6.35% p.a. | From 22 September | 6.85% 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.