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.