Reserve Bank’s latest increase sees rate move

Heritage Bank responds to latest RBA interest rate change.

21 November 2023

Following the Reserve Bank’s recent decision to further increase Australia’s cash rate by 0.25%, Heritage Bank will be lifting its variable mortgage rates.

All Heritage Bank’s existing variable rate home loans will increase by 0.25% p.a., as will variable business loans. The changes will be effective from 21 November 2023.

Rates on savings accounts and term deposits are still being considered, with a decision expected shortly.

For any member feeling financial pressure, we have a range of policies and processes to assist. To find out more, please click here.

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