Following the Reserve Bank's recent decision, we’re reducing our variable rate home loans by 0.25%pa from 30 May 2025. Find out more
Frequently Asked Questions
What is a basis point?
When it comes to interest rate changes, you may have heard the term basis point used. Basis points (bps) refers to a common unit of measure for interest rates and other percentages in finance. One basis point is equal to 1/100th of 1%, or 0.01%, or 0.0001. It is used to denote the percentage change in a deposit or loan product. For example, an increase of 0.50% on your home loan interest rates, is an increase of 50 basis points.
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