Update on Bank of us interest rates | Bank of us -->

Update on Bank of us interest rates

Bank of us announced changes to its variable home loan interest rates today.

“Following the RBA decision, we have decided to increase our variable home, residential investment and commercial loan interest rates by 25 basis points,” said Bank of us CEO Paul Ranson.

“We have made this decision 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 understand that this will be a new experience for many borrowers. We will notify all affected customers of the changes to their loan, and we encourage anyone who is finding it difficult to manage their loan to get in touch with us.

The new variable rates for existing loans will come into effect 1 June 2022.