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For and with you
Corporate Announcements

Interest rate update - June 2023.

Recently the RBA announced an increase to the cash rate.

6 minute read
16 June 2023
Corporate Announcements

As a customer-owned bank, we carefully consider the needs of all our customers to ensure we make a balanced decision for both our loan and deposit customers.

The tables below show some of the rate changes that we will be making to our loan products.

Rates for the below products will change on Tuesday, 20 May 2023.

Customers with a home loan will be notified either electronically or in writing with any adjustments required for repayments. Any changes to new repayments will be effective from Monday, 24 July  2023.


Change

Home loans

From Tuesday 20 June 2023, Beyond Bank’s advertised Standard Variable Interest Rates will be as follows;

 

Current Advertised Rate (% p.a.)

Change (% p.a.)

New Advertised Rate as at 20 June 2023 (% p.a.)

Owner Occupier Principal and Interest

8.20

0.25

8.45

Investment Principal and Interest

8.49

0.25

8.74

Investment Interest Only

8.79

0.25

9.04

 

From Tuesday 20 June 2023, Beyond Bank’s advertised Standard Total Home Loan Package Variable Rates will be as follows;

 

Current Advertised Rate (% p.a.)

Change (% p.a.)

New Advertised Rate as at 20 June 2023 (% p.a.)

Owner Occupier Principal and Interest

7.30

0.25

7.55

Investment Principal and Interest

7.50

0.25

7.75

Investment Interest Only

7.75

0.25

8.00

 

Current Savings Accounts

From Tuesday 20 June 2023:

Purple Bonus Saver

Tier

Current Rate

(% p.a.) - with Bonus

New Rate

 (% p.a.) - with Bonus

Change

(% p.a.)

$0 - $200,000

4.20

4.45

0.25

> $200,000

0.01

0.01

No Change

 

monEsaver Account

Tier

Current Rate

(% p.a.)

New Rate

 (% p.a.)

Change

(% p.a.)

$0 - $4,999

2.15

2.40

0.25

$5,000 - $199,999

2.45

2.70

0.25

$200,000 +

2.70

2.95

0.25

 

We’re here to help.

Beyond Bank has more than 275,000 customer-owners. 21,000 have loan accounts and 16,000 hold term deposits. Because our customers own the bank, all monies generated by the organisation are reinvested into the business to provide products and services and maintain the bank’s strong capital position.

We are very mindful of cost-of-living pressures and their impact on people today, and that interest rates can have a significant influence on this. We will always take an approach based on working with our owner-customers in a caring and supportive way.

If you need assistance with your loans, please call 13 25 85, option 2 to speak to our specialist team.

For general tips and resources for your financial wellbeing, please visit beyondbank.com.au/financial-wellbeing.html


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