Australian Military Bank Interest Rate Announcement
Following the announcement by the RBA on 6 June 2023 to lift the cash rate, 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 increased by 0.25% p.a. effective 20 June 2023, with repayments to change from 18 July 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 increasing the bonus rate by 0.25% on our Online Saver to a maximum rate of 4.25% (effective 1 July 2023), and our DIY Super Saver to a new rate of 3.90% (effective 15 June 2023), which will be passed on to our existing members. New Term Deposit specials of 4.90% for 12 – 17 month Term Deposits will be available from 15 June 2023.
We understand that successive increases to interest rates will impact our members with variable rate home loans. 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.