Update on Bank of us interest rates - 5 August 2022
In response to the RBA’s decision to increase the cash rate by 50 basis points at its August meeting, Bank of us is making the following changes to interest rates:
- For home, residential-investment and commercial loan customers, variable interest rates will increase by 50 basis points (0.50%p.a.). The new variable rates for existing loans will come into effect 15 August 2022. Customers will be notified of their new loan repayments by letter in due course.
- For depositors, the 6- and 12-month term deposit special of 2.25%p.a.* and 3.05p.a.* respectively has been extended for a limited time to support Tasmanians with their savings (*T&Cs apply). Full details are available at https://bankofus.com.au/investment-interest-rates
Savings rates will continue to be reviewed and any changes will be advised.
Our decision to increase rates is based on several factors, including our commitment to maintaining value for both our borrowers and deposit customers, and a need to be financially sustainable.
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.
Limited time offer, available to Tasmanian residents with new money to Bank of us. *Interest rate for deposits of $100,000 or more. The information contained in this advertisement is general information only and does not take into account your personal circumstances. You should consider if the product is appropriate for you. We recommend that you read the Conditions of Use, which is available at any of our Retail stores, by calling 1300 316 716 or from our website www.bankofus.com.au, prior to applying. Bank of us is a trading name of B&E Ltd ABN 32 087 652 088 AFSL & Australian Credit Licence 236870.