News

Australian Military Bank Interest Rate Announcement

Following the announcement by the RBA to lift the cash rate on 7 February 2023, 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 21 February 2023, with repayments to change from 28 March 2023. 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 also making changes to some savings products.  We are increasing the bonus rate by 0.25% on our Online Saver to a maximum rate of 3.50% (effective 1 March 2023), and our DIY Super Saver to a new rate of 3.15% (effective 13 February 2023). These increases will be passed on to all new and existing members.

We understand that successive increases to interest rates will impact our members. 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.

Australian Military Bank Interest Rate Announcement

Following the announcement by the RBA to lift the cash rate on 6 December 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 20 December 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 also increasing the bonus rate on our Online Saver rate by 0.25% to a maximum rate of 3.25% (effective as of 1 January 2023), and our DIY Super Saver rates by 0.25% (effective 13 December 2022).  New Term Deposit specials of 4.00% pa for 6 months and 4.20% pa for 24 months will also apply from 13 December 2022.

We understand that successive 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.

AMB Holiday Schedule 2022-23

Dear Members, 

 

Across the upcoming holiday period our Australian Military Bank Member Engagement Centre and branches will have varied operating hours from the standard schedule, so please review the holiday schedule for your respective local Australian Military Bank branch and Engagement Centre below to stay up to date. 

2022 Annual General Meeting – Results

Australian Military Bank's 63rd Annual General Meeting was held on Wednesday, 23 November, 2022, in Sydney and via live audio cast with 76 members in attendance.

Two resolutions were carried by members and their proxies at the meeting. These resolutions were:

1. Directors’ Remuneration - Approval was given for the maximum aggregate remuneration of the Elected Directors to be $484,125 per financial year commencing in the current financial year ending 30 June 2023.  

2. Election of Timothy Pike - Timothy Pike was elected as an Elected Director in accordance with Rule 13.4 of the Bank’s Constitution

We would like to thank all those in attendance as well as all our members for their continued support for the Bank.

Detailed voting results are available here

Australian Military Bank Interest Rate Announcement

Following the announcement by the RBA to lift the cash rate on 1 November 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 15 November 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 also increasing our Online Saver rate by 0.25% to a maximum rate of 3.00% (effective as of 1 December 2022), and our DIY Super Saver rates by 0.25% (effective 8 November 2022).  New Term Deposit specials of 3.70% pa for 6 months and 4.00% pa for 12 months will also apply from 8 November 2022.

We understand that successive 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.

Duntroon Branch Upgrade – Branch Temporary Closure Notification

Assistance for those impacted by floods

Financial assistance for members impacted by floods

Our thoughts are with those members and their families currently affected by flooding.

The effects of these floods and associated damage is wide-ranging and with potential financial impacts. If you are in financial difficulty due to the impacts of this flood disaster we encourage you to contact us as soon as possible to discuss how the Bank can assist you through this period on 1800 855 810.

How we can help

If you need assistance, we encourage you to contact us so we can understand your individual circumstances and how we can best support you. We may be able to offer financial hardship assistance to you if you are finding it difficult to make repayments on your loan. We encourage you to make contact as soon as possible on 1800 855 810 or via the “Hardship” link available on Internet and Mobile banking.

We can also discuss other options like early access to Term Deposits and waived fees and charges.

What you'll need to make a home and contents claim

If you'd like to make a claim or for any insurance queries please contact CGU Claims 24/7 on 13 24 80. For more information, please visit cgu.com.au/claims/home-claims.

Contact us

We are here to help our members. For general enquiries you can contact us via one of the options outlined;

General Enquiries

1300 13 23 28

Monday - Friday: 8:00am – 6:00pm Saturday: 9.00am - 12.00pm (All times AEST)

From Overseas: +61 2 9240 4122

Email Us

service@australianmilitarybank.com.au

Mail Us

PO Box H151, Australia Square, NSW 1215

Lost or Stolen Cards

1300 13 23 28 or call the VISA International Hotline specific to the country you are in

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.

Scam Alert - ‘Flubot’ Malware Scam

UPDATE: Please be aware of Linkt road toll scam

You may receive an sms asking you to pay an outstanding toll. Do not click on these links. Read more on our blog here 

Flubot is malicious software (malware) that sends text messages with links to a victim’s phone. There has been a rapid escalation in incidents since August 2021, with Australians receiving scam text messages. 

There are a large number of different types of Flubot text messages and scammers are updating them all the time. Current examples include URL links to fake postal/courier deliveries and the promise of voicemails or photos for you to review. 

The most important thing to remember is to never click on a link that does not come from an official source and to always double check URLs in your text messages prior to clicking the link, as sometimes if may look like it’s coming from a provider than you know. 

If in doubt, please call your provider, and always delete scam text messages that are sent to your phone. To find out more about the flubot malware scam and other scam alerts, head to scamwatch.gov.au. 

Australian Military Bank Interest Rate Announcement

 

Following the announcement by the RBA to lift the cash rate on 6 September 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 0.50% p.a. effective 27 September 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.

Effective Tuesday 20 September 2022, AMB will be increasing it’s DIY Super Saver rate by 0.50% to 2.15%. Furthermore, following a strong increase in August, AMB will be increasing it’s Online Saver Account bonus rate on 1 October 2022 by 0.30% to now offer a maximum rate (including bonus) of 2.50%.

While some commentators believe that the cash rate increases may slow in frequency and size in the coming months, we understand that this period of increases has created challenges for borrowers and their household budgets. 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.