Australian Unity Bank announces interest rate changes

09 June 2023

Tags: Media

Following the Reserve Bank of Australia’s (RBA) decision to increase the official cash rate by 0.25% on Tuesday 6 June, Australian Unity Bank has announced changes to its savings, deposit and home loan interest rates.

Savings changes, effective 15 June:

  • Active Saver Account with bonus interest rate increase by 0.50% to 4.50% p.a.
  • Freedom Saver Account interest rate will increase by 0.25% to 4.00% p.a. on balances up to $250,000, and by 0.25% to 4.25% p.a. on balances between $250,001 to $500,000.
  • Easy Saver Account interest rate will increase by 0.50% to 5.10% p.a.

Deposit changes, effective 15 June: 

  • Three month term deposit interest rate will increase by 0.50% to 4.50% p.a.
  • Six month term deposit interest rate will increase by 0.35% to 4.55% p.a.
  • Nine month term deposit interest rate will increase by 0.35% to 4.60% p.a.
  • Twelve month term deposit interest rate will increase by 0.25% to 4.75% p.a.

Home loan changes, effective 15 June: 

  • Home loan variable rate interest rates for new and existing customers will increase by 0.25%.

Matthew Ricker, Chief Executive Officer at Australian Unity Bank, said Australian Unity aims to balance current interest rates with the needs of both depositors and borrowers. 

"We aim to provide competitive deposit and savings options for customers seeking to maximise savings opportunities in this high interest rate environment,” said Mr Ricker.

“At the same time, we are committed to supporting borrowers and customers who may be impacted by the RBA’s decision to lift interest rates.”

“We highly encourage any customers experiencing financial difficulty to reach out to our team for support as soon as possible.”

New and existing customers can contact Australian Unity Bank on 1800 288 300.

-ends-



Media contact:
T: 1300 408 776
E: media@australianunity.com.au

About Australian Unity
Established in 1840, Australian Unity is a member-owned wellbeing company with more than 385,000 members and more than 700,000 customers. Our range of health, wealth and care products and services provides member, customer and community value that is supportive of personal and community wellbeing.

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