Changes to Deposits and Variable Home Loan rates

Tuesday 6 April: We have announced changes to interest rates on a range of deposit and variable rate home loan accounts, reflecting recent increases in market interest rates and wholesale funding costs.

The new interest rates will automatically be applied on Friday 9th April 2010.

Home Loans

 

 Old Rate  (% pa)

 New Rate  (% pa)

 Change

 Complete Home Loan Variable Rate

 6.86%

 7.11%

 +0.25%

 Economiser (Base Variable Rate)

 6.35%

 6.60%

 +0.25%

 Viridian Line of Credit (Residential  Equity Rate)

 6.96%

 7.21%

 +0.25%


How will the changes to Variable Home Loan rates affect me?

 

Savings accounts

The deposit interest rate on NetBank Saver will also increase by 0.25 per cent per annum.

 

 Old Rate  (% pa)

 New Rate  (% pa)

 Change

 NetBank Saver

 4.00%*

 4.25%*

+0.25%

Open a new NetBank Saver and you'll receive an introductory variable rate of 5.75% p.a. (includes a bonus rate of 1.50% p.a.) until 31st July 2010 on balances of up to $5 million.

Click here to see more Savings accounts rates