Update on Bank of us interest rates - 12 September 2022

Bank of us will make changes to its lending interest rates in response to the RBA increasing the cash rate at its September meeting.

From 21 September 2022, home, residential-investment and commercial loan variable interest rates will increase by 50 basis points (0.50%p.a.). Customers will be notified of their new loan repayments by letter.

Savings and Term Deposit rates are currently being reviewed and any changes will be advised shortly.

The decision to increase lending rates is based on several factors including balancing the interests of both our borrowers and depositors and ensuring the Bank’s financial sustainability.

We encourage anyone with questions about the changes or anyone who might be finding it difficult to manage their loan to get in touch with us so we can help them to get back on track.