Australian Military Bank Interest Rate Announcement
Following the announcement by the RBA to lift the cash rate on 5 October 2022, Australian Military Bank will be making changes to a number of loan and deposit products.
Variable home and investment loan interest rates (including DHOAS) will be increasing by 0.25% p.a. effective 18 October 2022. This will apply to all new and existing variable rate loans. Members with a change to repayments will receive communication confirming their new repayments.
We are happy to announce a number of changes to savings accounts for our members. Effective Tuesday 18 October 2022, we will be increasing our DIY Super Saver rate by 0.25% to 2.40%. From 1 November our Online Saver Account bonus rate will also increase by 0.25% to now offer a maximum rate (including bonus) of 2.75%. We are also increasing a number of our Term Deposits rates.
We understand that the economic uncertainly and now six consecutive increases to interest rates will impact our members with home loans so we encourage our members who may be experiencing difficulty in meeting their repayments to contact us on 1300 13 23 28 to discuss how we can assist.