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.