Latest News Archives

Rates Announcement – 13 February 2026

Following the Reserve Bank of Australia’s (RBA) February 2026 decision to increase the official cash rate by 0.25% p.a., we will be updating the interest rates for our Savings Accounts, Term Deposits and Home Loans. Here’s a summary of what’s changing and when these updates take effect.

What’s changing?

Savings Accounts

We will increase some of our interest rates on the following products;

U30 SUPER CHARGE interest rates will increase by 0.25% p.a. to 4.75% p.a. effective from February 16, 2026
The Savings Plus interest rate for balances between $100,000 and $249,999 will increase by 0.25% p.a. to 4.00% p.a. effective from February 16, 2026
Retirement Plus will increase by 0.25% p.a. to 2.25% p.a. effective from February 16, 2026
Dynamo/Flex (Bonus Rate only) will increase by 0.25% p.a. to 2.25% p.a. effective from March 1, 2026
Bonus Saver (Bonus Rate only) will increase by 0.25% p.a. to 4.00% p.a. effective from March 1, 2026.

The rates for each balance tier apply to the entire account balance, up to the limits stated.

Term Deposits

Effective 16 February, 2026, 3-Month Term Deposit interest rates for Term Deposits with Interest Paid at Maturity will increase to 4.15% p.a.
Effective 16 February, 2026, 6-Month Term Deposit interest rates for Term Deposits with Interest Paid at Maturity will increase to 4.20% p.a.

Home Loans

All Variable Rate Home Loans

For new borrowers: Effective February 16, 2026, interest rates for new variable rate home loans will increase by 0.25% p.a.
For existing borrowers: Effective February 16, 2026, interest rates for existing variable rate home loans will increase by 0.25% p.a.

Fixed Rate Home Loans (including Owner Occupier, Investor, Principal & Interest and Interest Only loans)

Effective February 16, 2026, for new fixed rate home loans, the 1/2-year fixed rates will increase by 0.1% p.a., and the 3-year fixed rate will increase by 0.15% p.a.

Overdrafts

Effective February 16, 2026, the interest rate for Easy Access Overdraft will increase by 0.25% p.a. from 13.85% p.a. to 14.10% p.a.
Effective February 16, 2026, the interest rate for Equity Maximiser Loan and Equity Maximiser Trans accounts will increase by 0.25% p.a. from 5.95% p.a. to 6.20% p.a.

Information and interest rates are current as at the date of publication and are subject to change.

For more information on changes to our interest rates, and relevant comparison rates, visit our Interest Rates page.

Terms and conditions, lending and eligibility criteria apply and are available here.

Rates Announcement – 16 January 2026

Rates are changing for some of our fixed rate home loans, effective Friday January 16, 2026!

3-Year Fixed Rate Owner Occupier & Investment, Principal & Interest, and Interest Only Home Loans have changed.
2-Year Fixed Rate Owner Occupier & Investment, Principal & Interest, and Interest Only Home Loans have changed.
1-Year Fixed Rate Owner Occupier & Investment, Principal & Interest, and Interest Only Home Loans have changed.

For more information on changes to our Home Loan interest rates, and relevant comparison rates, visit our Home Loan and Interest Rate pages.

Terms and conditions, lending and eligibility criteria apply and are available here.

Rates Announcement – 18 December 2025

We’ve made some changes to our Term Deposit pricing, effective Thursday December 18, 2025.

9-Month Term Deposit interest rates have increased.
12‑Month Term Deposit interest rates have increased.

For more information on our updated Term Deposit interest rates, please visit our Investment Accounts Interest Rates page.

Terms and conditions, eligibility criteria apply and are available here.

Rates Announcement – 4 December 2025

Rates are changing for some of our fixed rate home loans, effective Thursday December 4, 2025!

3-Year Fixed Rate Owner Occupier & Investment, Principal & Interest, and Interest Only Home Loans have changed.
2-Year Fixed Rate Owner Occupier & Investment, Principal & Interest, and Interest Only Home Loans have changed.
1-Year Fixed Rate Owner Occupier & Investment, Principal & Interest, and Interest Only Home Loans have changed.

For more information on changes to our Home Loan interest rates, and relevant comparison rates, visit our Home Loan and Interest Rate pages.

Terms and conditions, lending and eligibility criteria apply and are available here.

Rates Announcement – 14 November 2025

We’re dropping interest rates on some of our fixed rate interest only home loans, effective Friday November 14, 2025!

3-Year Fixed Rate Interest Only Home Loans have now been reduced.
2-Year Fixed Rate Interest Only Home Loans have now been reduced.
1-Year Fixed Rate Interest Only Home Loans have now been reduced.

For more information on changes to our Home Loan interest rates, and relevant comparison rates, visit our Home Loan and Interest Rate pages.

Terms and conditions, lending and eligibility criteria apply and are available here.

Rates Announcement – 1 October 2025

We’re dropping interest rates on some of our fixed rate home loans, effective Wednesday October 1, 2025!

2-Year Fixed Rate Owner Occupier & Investment, Principal & Interest Home Loans have now been reduced.
1-Year Fixed Rate Owner Occupier & Investment, Principal & Interest Home Loans have now been reduced.

For more information on changes to our Home Loan interest rates, and relevant comparison rates, visit our Home Loan and Interest Rate pages.

Terms and conditions, lending and eligibility criteria apply and are available here.

Phone porting fraud

An increasing number of Australians are being targeted by a sophisticated phone porting scam. Victims of the scam have their phone numbers switched to a new telco provider, leaving them vulnerable to theft and bank fraud.

If you suspect someone has moved (ported) your mobile phone number to a new telco provider, please contact us immediately on 131 728.

What is phone porting?

Porting is a service offered by telcos that allows consumers to keep their phone number when they change providers. Phone porting is completely legal – in fact, it helps to promote competition between telcos. However, scammers have begun exploiting it to gain access to Australians’ phones and take control of their bank accounts.

This is typically done in one of two ways. Scammers will either:

transfer their target’s mobile phone services to a new telco provider linked to a device they control, or
request that your existing provider swaps the SIM card associated with your mobile phone number to one they have access to.

Your telco provider is required to verify your identity before they can port your number to a new SIM card or telco, so the scammers will usually have captured personal details like your full name, date of birth, and email address beforehand.

Why it matters

Mobile phone porting scams are serious because your mobile number is often used to help keep your bank accounts secure.

Once a scammer controls a target’s phone number, they can bypass normal two-factor authentication (2FA) security systems to directly access bank accounts. In some cases, scammers can also access their targets’ superannuation and government services accounts.

Monitoring for suspicious activity

Before attempting to port your number, scammers will need to gather your personal data. This is often done through phishing emails, social engineering, or even by scraping your social media profiles for data they can use to trick a telco provider.

There are also several warning signs which may indicate your phone has been ported. These include:

Loss of mobile service

Victims of porting fraud will typically lose network access and only be able to use their phone in ‘SOS mode’.

Confirmation of a porting request

In some cases you may receive a text or email from your telco letting you know a porting request has been received.

Bills sent by new telco providers

Porting fraud victims may sometimes receive a bill from the new telco provider the scammer has used to make the switch.

Protect yourself from porting fraud

If you suspect your phone number has been ported, please contact Police Bank immediately on 131 728 so we can review and take appropriate action as applicable for your account(s).

You may also like to contact IDCARE, an independent not-for-profit organisation that helps Australians respond to ID theft and cyber crime.

You can also take preventative measures now to reduce the likelihood of being affected by these scams.

These measures include, but not limited to:

Ensuring your security questions are strong enough that only you know the correct answers.
Removing your phone number, date of birth and email address from social media accounts.
Maintaining good digital hygiene (including setting strong passwords and regularly updating them).
Being wary of cold callers and double-checking email addresses and hyperlinks before clicking them.
Contacting your telco provider to ask about any additional safety measures they may offer.

Stay cyber safe

You can find more advice on how to prevent fraud and cyber crime on our upcoming security hub, launching in October 2025.

Rates Announcement – 12 August 2025

Following the Reserve Bank of Australia’s (RBA) decision to reduce the official cash rate by 0.25% p.a. we’re reducing our variable home loan interest rates by 0.25% p.a.

What’s changing?

Home Loans
All Variable Rate Home Loans

For new borrowers: Effective August 22, 2025, we will decrease the interest rates for new variable rate home and investment loan borrowers by 0.25% p.a.

For existing borrowers: Effective August 22, 2025, we will decrease the variable interest rates for existing owner-occupied and investment home loans by 0.25% p.a. affecting repayments from August 22, 2025.

Savings Accounts
We are reducing some of our interest rates on the following products;

U30 SUPER CHARGE interest rates will be decreasing by 0.25% p.a. to 4.50% p.a. effective from August 22, 2025
Some Savings Plus tiers will be decreasing by 0.25% p.a effective from August 22, 2025
- Accounts with balances $50,000 to $99,999 will be 1.25% p.a.
- Accounts with balances $100,000 to $249,999 will be 3.75% p.a.
Bonus Saver (Bonus Rate only) will be decreasing by 0.25% p.a. to 3.75 % p.a. effective from September 1, 2025

The rates for each balance tier apply to the entire account balance, up to the limits stated.

Rates Announcement – 22 May 2025

We’re passing on in full the RBA’s (Reserve Bank of Australia) interest cut to variable home loans.

What’s changing?

Home Loans

We’re reducing all variable home loan interest rates by 0.25% p.a. effective from May 27, 2025

Savings Accounts

We are reducing some of our interest rates on the following products;

U30 SUPER CHARGE interest rates will be decreasing by 0.25% p.a. to 4.75% p.a. effective from May 27, 2025
Some Savings Plus tiers will be decreasing by 0.25% effective May 27, 2025
- Accounts with balances $50,000 to $99,999 will be 1.50% p.a.
- Accounts with balances $100,000 to $249,999 will be 4.00% p.a.
Easy Access Overdraft will be decreasing by 0.25% to 13.85% p.a. effective from June 1, 2025
Bonus Saver (Bonus Rate only) will be decreasing by 0.25% to 4.00% p.a. effective from June 1, 2025.

The rates for each balance tier apply to the entire account balance, up to the limits stated.

Rates Announcement – 2 May 2025

We’re dropping interest rates on some of our fixed rate home loans, effective Friday May 2, 2025!

All 3-Year Fixed Rate Ower Occupier & Investment, Principal & Interest Home Loans have now been reduced to 4.99% p.a.
All 2-Year Fixed Rate Ower Occupier & Investment, Principal & Interest Home Loans have now been reduced to 5.15% p.a.

For more information on changes to our Home Loan interest rates, and relevant comparison rates, visit our Home Loan and Interest Rate pages.

Terms and conditions, leading and eligibility criteria apply and are available here.
Please note, current promotional offers (including cashback on all 2-year and 3-year fixed rate home loans) do not apply.