On the 4th of May 2023, the Reserve Bank of Australia (RBA) announced a 25-basis point increase to the official cash rate.
In response, we will be raising interest rates for both borrowers and depositors from Thursday 18th May.
The following rate changes will apply to our lending products:
Note: Customers will soon receive a letter in the mail outlining specific information in relation to their loan product/s and any relevant repayment changes. Repayment changes will become effective from Thursday 22nd June 2023.
The following rate changes will apply to our deposits & savings products:
We’re here to support you
Whilst maintaining a competitive position on our products and services is essential for the long-term sustainability of our bank and customers, we understand this can be an uncertain and challenging time for some.
Our lending specialists are here to support you with any of your financial needs or questions. If you are experiencing financial hardship, we encourage you to contact our Financial Assistance Team.
You can send us a Secure Mail via Online Banking or the Mobile App.
Tools to help you manage your budget and finances
To help you plan ahead and manage your finances, we have a range of support tools like repayment calculators, financial literacy articles and more.
Here’s some of our recent articles:
We acknowledge the Traditional Owners of the lands on which we operate and pay our respects to Elders past and present, and to emerging community leaders. We also acknowledge the important role Aboriginal and Torres Strait Islander peoples continue to play within the communities in which Qudos Bank operates and where our team members reside.
