UPDATE: The RBA has announced a 50 basis point increase to the cash rate in July to 1.35%. 

The Reserve Bank of Australia (RBA) has raised the cash rate by 50 basis points in June, taking it up to 0.85%. 

Savings.com.au will provide regular updates below of which lenders are announcing they are passing on this June 2022 rate hike to variable rate home loans.

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Which lenders are raising variable interest rates?

All rate changes below refer to lenders’ responses to the RBA’s rate hike on 7 June 2022. To see how these rate movements compare with previous RBA rate changes, refer to our past rate change pages:

Last updated: 21/06/2022. 

Key notes:

P&I = Principal and Interest, IO= Interest Only, OO=Owner-occupiers
Basis points explained: 1 basis point = 0.01%

    AMP interest rate rise

    ANZ interest rate rise

    Athena interest rate rise

    Australian Military Bank interest rate rise

    Australian Unity Bank interest rate rise

    Auswide Bank interest rate rise 

    Bank Australia interest rate rise

    Bank of Melbourne interest rate rise

    Bank of Queensland (BOQ) interest rate rise

    Bankfirst interest rate rise

    BankSA interest rate rise

    Bank of Sydney interest rate rise

    BankVic interest rate rise 

    Bankwest interest rate rise

    Bank of us interest rate rise

    BCU interest rate rise

    Bendigo Bank interest rate rise

    Beyond Bank interest rate rise

    Citi interest rate rise

    Commonwealth Bank interest rate rise

    Credit Union SA interest rate rise (pending)

    Defence Bank interest rate rise

    G&C Mutual Bank interest rate rise

    Gateway Bank interest rate rise (pending)

    Great Southern Bank interest rate rise

    Greater Bank interest rate rise

    Heritage Bank interest rate rise

    Homeloans.com.au interest rate rise

    Homestar Finance interest rate rise

    Horizon Bank interest rate rise

    HSBC interest rate rise

    Hume Bank interest rate rise

    IMB interest rate rise

    ING interest rate rise

    loans.com.au interest rate rise Click to view the latest rates

    Macquarie Bank interest rate rise

    ME Bank interest rate rise

    Mortgage House interest rate rise (pending)

    MOVE Bank interest rate rise (pending)

    MyState Bank interest rate rise

    NAB interest rate rise

    Nano interest rate rise

    Newcastle Permanent interest rate rise

    OneTwo Home Loans interest rate rise 

    P&N Bank interest rate rise

    People's Choice interest rate rise

    Police Credit Union interest rate rise (pending)

    QBank interest rate rise

    Qudos Bank interest rate rise

    RACQ Bank interest rate rise

    RAMS interest rate rise

    Reduce Home Loans interest rate rise

    Resimac interest rate rise

    St George interest rate rise

    State Custodians interest rate rise (pending)

    Suncorp Bank interest rate rise

    Teachers Mutual Bank interest rate rise (pending)

    The Mutual Bank interest rate rise (pending)

    Tic:Toc interest rate rise

    UBank interest rate rise

    UniBank interest rate rise (pending)

    Virgin Money interest rate rise

    Well home loans interest rate rise

    Westpac interest rate rise

    Wlth interest rate rise (pending)

    Yard interest rate rise (pending)


    AMP interest rate rise

    • June 2022 rate rise: 50 basis points
    • Applies to: Variable rate home loans
    • Effective date: 17 June for new customers, 20 June for existing customers
    • Announcement date: 10 June
    • Other info: AMP will also offer a 0.50% p.a. increase to deposit account rates for investment clients through AMP wealth platforms, effective 14 June. 

    ANZ interest rate rise

    • June 2022 rate rise: 50 basis points
    • Applies to: Variable rate home loans
    • Effective date: 17 June
    • Announcement date: 08 June
    • Other info: ANZ will also offer a new rate for its 11-month Advance Notice term deposit of 2.25% p.a. effective 13 June.

    Athena interest rate rise

    • June 2022 rate rise: 50 basis points
    • Applies to: Variable rate home loans
    • Effective date: 15 June
    • Announcement date: 15 June

    Australian Military Bank interest rate rise

    • June 2022 rate rise: 50 basis points
    • Applies to: Variable rate home loans
    • Effective date: 23 June
    • Announcement date: 10 June
    • Other info: Australian Military Bank will also offer increases of up to 0.70% p.a. across term deposits effective from 15 June.

    Australian Unity Bank interest rate rise

    • June 2022 rate rise: 50 basis points
    • Applies to: Variable rate home loans
    • Effective date: 16 June for new customers, 24 June for existing customers
    • Announcement date: 16 June
    • Other info: Australian Unity Bank will also offer increases to a number of term deposits ranging from 0.15% to 0.50% p.a. effective 16 June, as well as a 0.20% p.a. increase to savings accounts effective 1 July. 

    Auswide Bank interest rate rise

    • June 2022 rate rise: 50 basis points
    • Applies to: Variable rate home loans
    • Effective date: 22 June
    • Announcement date: 10 June

    Bank Australia interest rate rise

    • June 2022 rate rise: 50 basis points
    • Applies to: Variable rate home loans
    • Effective date: 23 June
    • Announcement date: 17 June
    • Other info: Bank Australia will also increase rates across term deposits effective 23 June. 

    Bank of Melbourne interest rate rise

    • June 2022 rate rise: 50 basis points
    • Applies to: Variable rate home loans
    • Effective date: 21 June
    • Announcement date: 08 June

    Bank of Queensland interest rate rise

    • June 2022 rate rise: 50 basis points
    • Applies to: Variable rate home loans
    • Effective date: 14 June
    • Announcement date: 08 June
    • Other info: Bank of Queensland will also increase term deposit rates including a rate of 2.50% for deposits of 12 months from 10 June.

    Bankfirst interest rate rise

    • June 2022 rate rise: 50 basis points
    • Applies to: Variable rate home loans
    • Effective date: 24 June
    • Announcement date: 14 June
    • Other info: Bankfirst will also increase its 12 month term deposit rate to 2.35% p.a. from 16 June. 

    BankSA interest rate rise

    • June 2022 rate rise: 50 basis points
    • Applies to: Variable rate home loans
    • Effective date: 21 June
    • Announcement date: 08 June

    Bank of Sydney interest rate rise

    • June 2022 rate rise: 50 basis points
    • Applies to: Variable rate home loans
    • Effective date: 16 June
    • Announcement date: 14 June

    BankVic interest rate rise

    • June 2022 rate rise: 45 basis points
    • Applies to: Variable rate home loans
    • Effective date: 28 June
    • Announcement date: 15 June
    • Other info: BankVic is increasing the interest rate on a range of savings accounts by between 0.35% and 0.45%

    Bankwest interest rate rise

    • June 2022 rate rise: 50 basis points
    • Applies to: Variable rate home loans
    • Effective date: 17 June
    • Announcement date: 08 June

    Bank of us interest rate rise

    • June 2022 rate rise: 50 basis points
    • Applies to: Variable rate home loans
    • Effective date: 17 June
    • Announcement date: 10 June
    • Other info: Bank of us will also offer a 12 month term deposit rate of 2.50% p.a. effective 14 June.

    BCU interest rate rise

    • June 2022 rate rise: 50 basis points
    • Applies to: Variable rate home loans
    • Effective date: 28 June
    • Announcement date: 13 June
    • Other info: BCU will also offer a 0.55% p.a. increase across savings and term deposit accounts. 

    Bendigo Bank interest rate rise

    • June 2022 rate rise: 50 basis points
    • Applies to: Variable rate home loans
    • Effective date: 17 June
    • Announcement date: 10 June
    • Other info: Bendigo Bank will also offer interest rate increases on many of its deposit products including an increase to the rate on its Reward Saver account by 0.50% p.a.

    Beyond Bank interest rate rise

    • June 2022 rate rise: 50 basis points
    • Applies to: Variable rate home loans
    • Effective date: 23 June
    • Announcement date: 16 June
    • Other info: Bendigo Bank will also offer interest rate increases across a number of term deposits by up to 1.10% p.a. and savings accounts by up to 0.25% p.a.

      Commonwealth Bank interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans 
      • Effective date: 17 June
      • Announcement date: 08 June
      • Other info: CommBank will also increase the bonus interest rate for select savings products by 0.50% p.a. Further, Australia's largest bank will also be extending availability of their 18-month term deposit special offer of 2.25% p.a.

      Citi interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans 
      • Effective date: 17 June
      • Announcement date: 15 June

      Great Southern Bank interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans 
      • Effective date: 22 June
      • Announcement date: 10 June

      Defence Bank interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans 
      • Effective date: 16 June
      • Announcement date: 15 June

      Greater Bank interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans 
      • Effective date: 31 July
      • Announcement date: 10 June
      • Other info: Greater Bank will be increasing the interest rate on a range of term deposits from three months to five year maturity terms of between 0.50% and 1.00% p.a.

      G&C Mutual Bank interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans 
      • Effective date: 16 June 
      • Announcement date: 16 June

      Heritage Bank interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans 
      • Effective date: 21 June
      • Announcement date: 15 June

      Homeloans.com.au interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans 
      • Effective date: 21 June
      • Announcement date: 21 June

      Homestar Finance interest rate rise

      • June 2022 rate rise: 46 basis points for owner occupiers, 50 basis points for investors
      • Applies to: Variable rate home loans 
      • Effective date: 17 June
      • Announcement date: 09 June

      Horizon Bank interest rate rise

      • June 2022 rate rise: 40 basis points 
      • Applies to: Variable rate home loans 
      • Effective date: 09 June
      • Announcement date: 09 June

      HSBC interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans 
      • Effective date: 27 June
      • Announcement date: 09 June

      Hume Bank interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans 
      • Effective date: 24 June
      • Announcement date: 16 June
      • Other info: Hume Bank will also be increasing a number of term deposit rates effective 16 June. 

      IMB interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans 
      • Effective date: 17 June
      • Announcement date: 13 June

      ING interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans 
      • Effective date: 15 June
      • Announcement date: 09 June
      • Other info: ING will also increase its highest ongoing variable savings interest rate by 0.75% p.a. as well as a 2.75% per annum fixed personal term deposit rate for 12 months.

      loans.com.au interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans 
      • Effective date: 22 June
      • Announcement date: 21 June

      Macquarie Bank interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 17 June
      • Announcement date: 08 June
      • Other info: In an Australian first, Macquarie Bank will increase the interest rates customers earn on their transaction account by 145 basis points to 1.50% p.a. from June 17. 

      ME Bank interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 18 June
      • Announcement date: 08 June
      • Other info: ME Bank will also increase term deposit rates with their 12 month rate increasing to 2.75% p.a. from June 9, providing a boost for savers.

      MyState Bank interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 20 June
      • Announcement date: 08 June
      • Other info: MyState Bank will also increase term deposit rates by up to 1.85%. Further, MyState Bank Bonus Saver account will receive the full 0.50% increase effective 15 June taking it to 1.60% p.a. 

      NAB interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 17 June
      • Announcement date: 08 June
      • Other info: NAB will also offer a special 12-month Term Deposit interest rate of 2.25% p.a. from June 17.

      Nano interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 20 June
      • Announcement date: 15 June

      Newcastle Permanent interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 17 June
      • Announcement date: 09 June
      • Other info: Newcastle Permanent will also offer a special 12-month Term Deposit interest rate of 2.25% p.a. from June 14.

      OneTwo Home Loans interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 28 June
      • Announcement date: 20 June

      P&N Bank interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 28 June
      • Announcement date: 13 June
      • Other info: P&N Bank will also be passing on a 0.30% p.a. increase savings accounts and a 1.00% p.a. increase across some term deposits.

      People's Choice interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 21 June
      • Announcement date: 15 June
      • Other info: People's Choice will also increase term deposits by up to 1.35% p.a. from 17 June. 

      QBank interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 21 June
      • Announcement date: 15 June

      Qudos Bank interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 23 June
      • Announcement date: 09 June
      • Other info: Qudos Bank will also be passing on a 0.40% increase across some savings accounts.

      RACQ Bank interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 16 June
      • Announcement date: 10 June
      • Other info: RACQ Bank will also be passing on an increase to term deposit interest rates by up to 1.00% p.a. effective from 16 June.

      RAMS interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 21 June
      • Announcement date: 08 June

      Reduce Home Loans interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 30 June
      • Announcement date: 08 June

      Resimac interest rate rise

      • June 2022 rate rise: 75 basis points
      • Applies to: Variable rate home loans
      • Effective date: 21 June
      • Announcement date: 15 June

      St George interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 21 June
      • Announcement date: 08 June

      Suncorp Bank interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 17 June
      • Announcement date: 09 June
      • Other info: Suncorp Bank will also introduce a new term deposit rate of 2.30% p.a. for 12 months, and increase Growth Saver account by 0.70% p.a.

      Tic:Toc interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 23 June
      • Announcement date: 23 June

      UBank interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 16 June
      • Announcement date: 16 June

      Virgin Money interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans 
      • Effective date: 14 June
      • Announcement date: 08 June

      Well home loans interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 23 June
      • Announcement date: 22 June

      Westpac interest rate rise

      • June 2022 rate rise: 50 basis points
      • Applies to: Variable rate home loans
      • Effective date: 21 June
      • Announcement date: 07 June
      • Other info: Westpac is also introducing a term deposit rate of 2.25% per annum for 12 months to support customers with their savings from 9 June. Other deposit interest rates remain under review.




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