Interest rate tracker – Which banks have raised their rates in August 2022?

What’s happening to interest rates?

On Tuesday the 3rd of May 2022, the Reserve Bank of Australia (RBA) lifted the cash rate from a historical low of 0.10% per annum to 0.35% per annum – an increase of 0.25% per annum and the first rate increase since November 2010. 

Then on Tuesday the 7th of June 2022, the RBA increased the cash rate again by 0.50% per annum, from 0.35% to 0.85%. And then again by 0.50% per annum on Tuesday the 5th of July 2022, from 0.85% to 1.35%. And then again by 0.50% per annum on Tuesday the 2nd of August.

But not-so-fun fact, the interest rate on your home loan isn’t set by the RBA, it’s set by the specific bank or lender you’ve borrowed money from to purchase your property. This is where things get interesting (‘scuse the pun)… 

Historically speaking, banks and lenders have typically changed their variable home loan interest rates after an RBA announcement, but when and by how much is always a talking point.

Tip: It’s generally not always the same as the RBA. 

To add another layer, sometimes lenders don’t personally let you know how much your home loan interest rate has increased by. In fact, many lenders are only obligated to print an ad in a national newspaper to inform customers on their rate changes. Crazy huh! 

So keeping track of changes to your interest rate can be tricky, which is why we have created the list below to help you understand which banks and lenders have moved and by how much.  

We will continue to keep this list up to date as lenders respond to the RBA announcement.

Interest rate tracker – August 2022

Current as at 17th August, 2022.

LenderChangeEffective Date
Adelaide Bank+0.50% p.a.17th August, 2022
AFG Home Loans Alpha+0.50% p.a.19th August, 2022
AFG Home Loans Link+0.62% p.a.17th August, 2022
AFG Home Loans Options+0.50% p.a.12th August, 2022
AFG Home Loans Retro+0.62% p.a.17th August, 2022
AMP Bank+0.50% p.a.12th August, 2022
ANZ+0.50% p.a.12th August, 2022
Athena Home Loans+0.50% p.a.4th August, 2022
Auswide Bank+0.50% p.a.17th August, 2022
Australian Military Bank+0.50% p.a.17th August, 2022
Auswide Bank+0.50% p.a.17th August, 2022
Bank Australia+0.50% p.a.18th August, 2022
Bank First+0.50% p.a.19th August, 2022
Bank of Melbourne+0.50% p.a.18th August, 2022
Bank of QLD+0.50% p.a.9th August, 2022
Bank of Sydney+0.50% p.a.10th August, 2022
BankSA+0.50% p.a.18th August, 2022
Bankwest+0.50% p.a.12th August, 2022
Beyond Bank+0.50% p.a.16th August, 2022
Commonwealth Bank+0.50% p.a.12th August, 2022
FirstMac+0.50% p.a.5th August, 2022
Great Southern Bank+0.50% p.a.11th August, 2022
Horizon Bank+0.40% p.a.9th August, 2022
ING+0.50% p.a.9th August, 2022
Macquarie Bank+0.50% p.a.12th August, 2022
ME+0.50% p.a.6th August, 2022
MyState+0.50% p.a.15th August, 2022
NAB+0.50% p.a.12th August, 2022
Newcastle Permanent+0.50% p.a.12th August, 2022
RACQ Bank+0.50% p.a.16th August, 2022
RAMS+0.50% p.a.18th August, 2022
St. George+0.50% p.a.18th August, 2022
Suncorp Bank+0.50% p.a.12th August, 2022
ubank+0.50% p.a.11th August, 2022
Virgin Money+0.50% p.a.9th August, 2022
Westpac+0.50% p.a.18th August, 2022

Interest rate tracker – July 2022

Current as at 31st July, 2022.

LenderChangeEffective Date
AFG Home Loans Alpha+0.50% p.a.25th July, 2022
AFG Home Loans Edge+0.50% p.a.29th July, 2022
AFG Home Loans Link
(existing clients)
+0.60% p.a.18th July, 2022
AFG Home Loans Options
(existing clients)
+0.58% p.a.15th July, 2022
AFG Home Loans Retro
(existing clients)
+0.60% p.a.18th July, 2022
Adelaide Bank+0.50% p.a.15th July, 2022
AMP Bank+0.50% p.a.15th July, 2022
ANZ+0.50% p.a.15th July, 2022
Athena Home Loans+0.65% p.a.14th July, 2022
Australian Military Bank+0.50% p.a.27th July, 2022
Auswide Bank+0.50% p.a.20th July, 2022
Bank Australia+0.50% p.a.18th July, 2022
Bank of Melbourne+0.50% p.a.20th July, 2022
Bank of Queensland+0.50% p.a.8th July, 2022
Bank of Sydney+0.50% p.a.14th July, 2022
BankSA+0.50% p.a.20th July, 2022
Bankwest+0.50% p.a.15th July, 2022
Bendigo Bank+0.50% p.a.15th July, 2022
Beyond Bank+0.50% p.a.21st July, 2022
Citi+0.50% p.a.15th July, 2022
Commonwealth Bank+0.50% p.a.15th July, 2022
Firstmac+0.50% p.a.8th July, 2022
Horizon Bank+0.50% p.a.7th July, 2022
ING+0.50% p.a.12th July, 2022
Macquarie Bank+0.50% p.a.14th July, 2022
ME Bank+0.50% p.a.9th July, 2022
MyState Bank+0.50% p.a.18th July, 2022
NAB+0.50% p.a.15th July, 2022
Newcastle Permanent+0.50% p.a.15th July, 2022
Qudos Bank+0.50% p.a.21st July, 2022
RACQ Bank+0.50% p.a.15th July, 2022
RAMS+0.50% p.a.20th July, 2022
St. George Bank+0.50% p.a.20th July, 2022
Suncorp Bank+0.50% p.a.15th July, 2022
UBank+0.50% p.a.19th July, 2022
Virgin Money+0.50% p.a.9th July, 2022
Westpac+0.50% p.a.20th July, 2022

Interest rate tracker – June 2022

Current as at 30th June, 2022.

Lender Change Effective Date 
Adelaide Bank+0.50% p.a.17th June, 2022
AMP Bank+0.50% p.a.17th June, 2022
ANZ+0.50% p.a.17th June, 2022
Athena Home Loans+0.50% p.a.15th June, 2022
Australian Military Bank+0.50% p.a.23rd June, 2022
Auswide Bank+0.50% p.a.22nd June, 2022
Bank of Melbourne+0.50% p.a.21st June, 2022
Bank of Queensland+0.50% p.a.14th June, 2022
BankSA+0.50% p.a.21st June, 2022
Bankwest+0.50% p.a.17th June, 2022
Bendigo Bank+0.50% p.a.17th June, 2022
Citi+0.50% p.a.17th June, 2022
Commonwealth Bank+0.50% p.a.17th June, 2022
HSBC+0.50% p.a.27th June, 2022
ING+0.50% p.a.15th June, 2022
Liberty+0.50% p.a.16th June, 2022
Macquarie Bank+0.50% p.a.17th June, 2022
ME Bank+0.50% p.a.18th June, 2022
MyState Bank+0.50% p.a.20th June, 2022
NAB+0.50% p.a.17th June, 2022
Newcastle Permanent+0.50% p.a.17th June, 2022
Qudos Bank+0.50% p.a.23rd June, 2022
RACQ Bank +0.50% p.a.16th June, 2022
RAMS+0.50% p.a.21st June, 2022
Resimac+0.75% p.a.21st June, 2022
St. George Bank+0.50% p.a.21st June, 2022
Suncorp Bank+0.50% p.a.15th June, 2022
UBank+0.50% p.a.16th June, 2022
Virgin Money+0.50% p.a.14th June, 2022
Westpac +0.50% p.a. 21st June, 2022

Interest rate tracker – May 2022

Current as at 31st May, 2022.

Lender Change Effective Date 
AFG Home Loans Alpha+0.25% p.a.23rd May, 2022
AFG Home Loans Link+0.25% p.a.20th May, 2022
AFG Home Loans Options+0.25% p.a.18th May, 2022
AFG Home Loans Retro+0.25% p.a.20th May, 2022
Athena Home Loans +0.25% p.a. 5th May, 2022
ANZ+0.25% p.a. 13th May, 2022
AMP Bank+0.25% p.a.16th May, 2022
Auswide Bank+0.25% p.a. 17th May, 2022
Australian Military Bank+0.25% p.a.20th May, 2022
Bank Australia+0.25% p.a.25th May, 2022
Bank First+0.25% p.a. 1st June, 2022
Bank of Melbourne +0.25% p.a. 17th May, 2022
Bank of Queensland +0.25% p.a. 13th May, 2022
Bank of us+0.25% p.a. 1st June, 2022
BankSA +0.25% p.a. 17th May, 2022
Bankwest +0.25% p.a. 18th May, 2022
Bendigo Bank+0.25% p.a.17th May, 2022
Beyond Bank+0.25% p.a.17th May, 2022
Bluestone +0.25% p.a. 6th May, 2022
Citi+0.25% p.a.13th May, 2022
Commonwealth Bank +0.25% p.a. 20th May, 2022
Firstmac+0.25% p.a.18th May, 2022
Greater Bank+0.25% p.a. 10th May, 2022 p.a.17th May, 2022
Horizon Bank+0.25% p.a. 4th May, 2022
HSBC +0.25% p.a. 23rd May, 2022
ING +0.25% p.a. 10th May, 2022
Macquarie Bank +0.25% p.a. 13th May, 2022
ME Bank +0.25% p.a. 13th May, 2022
MyState Bank+0.25% p.a.19th May, 2022
NAB+0.25% p.a.13th May, 2022
Newcastle Permanent+0.25% p.a. 18th May, 2022
St. George Bank+0.25% p.a. 17th May, 2022
Suncorp Bank +0.25% p.a. 18th May, 2022
RACQ Bank+0.25% p.a.17th May, 2022
RAMS +0.25% p.a.17th May, 2022
Resimac+0.25% p.a.17th May, 2022
Virgin Money+0.25% p.a.13th May, 2022
Westpac +0.25% p.a. 17th May, 2022

Note: This table highlights the lenders’ announced changes to their variable rate home loans. However, your own interest rate will depend on your specific home loan product. 

To track your individual home loan rate, and be alerted if your rate changes – simply connect your accounts to the Finspo app, free and accessible to all Australians. 

Want to review your options or see what this all means for you? Choose a time to chat with a Finspo home loan expert.

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