On the 4th October the Reserve Bank of Australia (RBA) announced a 25-basis point increase to the official cash rate.
In response, we will be raising interest rates for both borrowers and depositors from Thursday 20th October.
Our Variable Home Loan rates for existing mortgage customers will increase by 25-basis points, effective from Thursday 20th October. This includes all owner occupier, investment and mortgage linked loans.
Customers will soon receive a letter in the mail outlining specific information in relation to their loan product/s and any relevant repayment changes. Repayment changes will become effective from Thursday 24th November.
Our lending specialists are here to support you during this time, so if you have any questions about your loan please send us a Secure Mail message via Online Banking or the App.
If your circumstances have you facing financial uncertainty, or you’re concerned about meeting your loan obligations we encourage you to contact our Financial Assistance team by sending us a secure email via Online Banking or the Mobile App.
On Thursday 20th October Bonus Saver and DIY Super Saver customers will be receiving a 25-basis points increase on the bonus rate.
A 25-basis point increase will also apply to the Cash Management account, Qantas Points Saver, QSaver and Retirement Savings Account.
Various increases will also apply to our Term Deposit rates which will become effective Thursday 13th October.
To help you plan ahead we have a range of calculator tools that may assist you in managing your budget, estimating your loan repayments and more, please visit qudosbank.com.au/news-tools-tips/calculators/
Published Wednesday, 12 October 2022
