Effective 19 December 2022
Effective 19 December 2022 we increased our Residential variable and revolving credit interest rates as follows:
- A 0.70% increase to variable rates
- A 0.70% increase to the revolving credit rate
Because our rates have increased the applicable interest rate for customers:
- with existing lending in place as at 19 December 2022 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 9 January 2023. The table below shows the change in variable and revolving credit interest rates for customers with existing lending in place as at 19 December 2022.
| Until 8 January 2023 | From 9 January 2023 | ||||
|---|---|---|---|---|---|
| Special variable rate | Until 8 January 2023 | 7.25% p.a. | From 9 January 2023 | 7.95% p.a | |
| Standard variable rate | Until 8 January 2023 | 8.05% p.a. | From 9 January 2023 | 8.75% p.a. | |
| Revolving credit rate | Until 8 January 2023 | 7.35% p.a. | From 9 January 2023 | 8.05% 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.