Australian Military Bank Interest Rate Announcement
Following the announcement by the RBA on 7 March 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 increasing by 0.25% p.a. effective 23 March 2023, with repayments to change from 25 April 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 3.75% (effective 1 April 2023), our DIY Super Saver to a new rate of 3.40% (effective 14 March 2023) which will be passed on to our existing members. New Term Deposit specials of 4.25% for 6 and 12 month will be available from 23 March 2023.
We understand that successive increases to interest rates will impact our members with 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.