The Reserve Bank of Australia has announced an increase of 0.25% to Official Cash Rate. This increase by the RBA is considered to be a “Vote of Confidence” for the Australian Economy with all the signs indicating that Australia is well on it’s way out of the GFC (Global Financial Crisis).
The Major Banks & other Lenders are expected to waste no time in passing on this Interest Rate rise to borrowers by increasing their Variable Interest Rates.
Listed below is a list of Banks / Lenders who have confirmed HOW MUCH & WHEN their Standard Variable Interest Rates will rise.
BANK / LENDER: INCREASE: NEW RATE: EFFECTIVE DATE:
ANZ 0.25% p.a. 6.06% p.a. 12/10/2009
NAB 0.25% p.a. 5.99% p.a. 9/10/2009
CBA 0.25% p.a. 5.99% p.a. 13/10/2009
Westpac 0.25% p.a. 6.06% p.a. 12/10/2009
ING 0.25% p.a. 5.94% p.a. 12/10/2009
Homeside 0.25% p.a. 6.02% p.a. 9/10/2009
Heritage 0.25% p.a. 5.70% p.a. 15/10/2009
Suncorp 0.25% p.a 6.05% p.a. 12/10/2009
Bank West 0.25% p.a. 5.95% p.a. 12/10/2009
Rams (RFG) 0.25% p.a. 5.94% p.a. 13/10/2009
St George 0.25% p.a. 6.04% p.a. 15/10/2009
AMP Bank 0.25% p.a. 6.14% p.a. 14/10/2009
