Home loan rate changes after RBA's 0.25% rise: March 2023

The Reserve Bank of Australia (RBA) has lifted the cash rate by 25 basis points, taking it to 3.60%. 

Savings.com.au will provide regular updates below of each lenders' announcements regarding passing on this March 2023 rate hike to variable rate home loans.

All rate changes below refer to lenders’ responses to the RBA’s rate hike on 7 March 2023.  

Key notes:

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

Big-four home loan rate changes

ANZ

ANZ interest rate rise:

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 17th March
  
• Announcement date: 9th March

CommBank

CommBank interest rate rise:

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 17th March
  
• Announcement date: 9th March

NAB

NAB interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 17th March
  
• Announcement date: 9th March

Westpac

Westpac interest rate rise:

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 21st March
  
• Announcement date: 9th March

Other lenders' home loan rate changes

AMP interest rate rise

Athena interest rate rise

Australian Military Bank interest rate rise

Australian Unity interest rate rise

Auswide interest rate rise

Bank Australia interest rate rise

Bank of Melbourne interest rate rise

Bank of Queensland (BOQ) interest rate rise

Bank of Sydney interest rate rise

Bankfirst interest rate rise (pending)

BankSA interest rate rise

BankVic interest rate rise (pending)

Bankwest interest rate rise

BCU interest rate rise (pending)

Bendigo Bank interest rate rise

Beyond Bank interest rate rise (pending)

Citi interest rate rise (pending)

Credit Union SA interest rate rise

Defence Bank interest rate rise (pending)

G&C Mutual Bank interest rate rise (pending)

Gateway Bank interest rate rise (pending)

Great Southern Bank interest rate rise

Greater Bank interest rate rise

Heritage Bank interest rate rise (pending)

Homeloans.com.au interest rate rise (pending)

Homestar Finance interest rate rise (pending)

Horizon Bank interest rate rise (pending)

HSBC interest rate rise (pending)

Hume Bank interest rate rise (pending)

IMB Bank interest rate rise

ING interest rate rise

Loans.com.au interest rate rise

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

Newcastle Permanent interest rate rise

OneTwo Home Loans interest rate rise (pending)

P&N Bank interest rate rise

People's Choice interest rate rise (pending)

Police Credit Union interest rate rise (pending)

QBank interest rate rise (pending)

Qudos Bank interest rate rise

RACQ Bank interest rate rise

Rams Bank interest rate rise

Reduce Home Loans interest rate rise (pending)

Resimac interest rate rise

St George interest rate rise

State Custodians interest rate rise (pending)

Suncorp Bank interest rate rise

Sydney Mutual Bank interest rate rise (pending)

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)

Unloan interest rate rise

Virgin Money interest rate rise

Well home loans interest rate rise (pending)

Wlth interest rate rise (pending)

Yard interest rate rise (pending)

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AMP interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 10th March for new customers, 13th March for existing customers
  
• Announcement date: 9th March

Athena interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 15th March
  
• Announcement date: 15th March

Australian Military Bank interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 23rd March
  
• Announcement date: 15th March

Australian Unity interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 16th March
  
• Announcement date: 10th March

Auswide interest rate rise

• March 2023 rate rise: 25 basis points for existing customers, between 25 and 30 for new customers
  
• Applies to: Variable rate home loans
  
• Effective date: 16th March
  
• Announcement date: 9th March

Bank Australia interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 23rd March
  
• Announcement date: 10th March

Bank of Melbourne interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 21st March
  
• Announcement date: 9th March

Bank of Queensland (BOQ) interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 14th March
  
• Announcement date: 9th March

Bank of Sydney interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 16th March
  
• Announcement date: 15th March

BankSA interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 21st March
  
• Announcement date: 9th March

Bankwest interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 17th March
  
• Announcement date: 10th March

Bendigo Bank interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 17th March
  
• Announcement date: 10th March

Credit Union SA interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 16th March
  
• Announcement date: 10th March

Greater Bank interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 15th March
  
• Announcement date: 10th March

Great Southern Bank interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 15th March
  
• Announcement date: 10th March

IMB Bank interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 21st March
  
• Announcement date: 14th March

ING interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 14th March
  
• Announcement date: 10th March

Loans.com.au interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 10th March
  
• Announcement date: 9th March

Macquarie Bank interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 22nd March
  
• Announcement date: 9th March

ME Bank interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 22nd March
  
• Announcement date: 9th March

MyState Bank interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 20th March
  
• Announcement date: 9th March

Newcastle Permanent interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 17th March
  
• Announcement date: 10th March

P&N Bank interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 22nd March
  
• Announcement date: 15th March

Qudos Bank interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 23rd March
  
• Announcement date: 15th March

RACQ Bank interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 16th March
  
• Announcement date: 10th March

Rams Bank interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 21st March
  
• Announcement date: 14th March

Resimac interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 16th March
  
• Announcement date: 15th March

Suncorp Bank interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 17th March
  
• Announcement date: 9th March

St George interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 21st March
  
• Announcement date: 9th March

Tic:Toc interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 24th March
  
• Announcement date: 16th March

Unloan interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 30th March
  
• Announcement date: 27th March

Virgin Money interest rate rise

• March 2023 rate rise: 25 basis points
  
• Applies to: Variable rate home loans
  
• Effective date: 14th March
  
• Announcement date: 10th March

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Current low rate home loans

For quick reference: As things stand, these are some of the lowest-rate home loans Savings.com.au has found on the market:

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Variable Basic Cashback Home Loan (Principal and Interest) (LVR < 70%)

Product Features

• Immediate cashback upon settlement
• $2,000 for loans up to $700,000
• $4,000 for loans over $700,000

Monthly repayments: $2,408

6.04% Advertised Rate (p.a.)

6.06% Comparison Rate*

More details

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To see how these rate movements compare with previous RBA rate changes, refer to our past rate change pages:

• February 2023 rate hike
• December 2022 rate hike
• November 2022 rate hike
• October 2022 rate hike
• September 2022 rate hike
• August 2022 rate hike
• July 2022 rate hike
• June 2022 rate hike
• May 2022 rate hike
• November 2020 rate cut
• 19 March 2020 rate cut
• 3 March 2020 rate cut
• October 2019 rate cut
• July 2019 rate cut
• June 2019 rate cut

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