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On Tuesday 7 June, the Reserve Bank of Australia (RBA) increased the cash rate by 0.50% per annum. In response to this decision, bcu will be making changes to interest rates across several deposit and lending products.

As a customer-owned bank, we strive to remain competitive for our members. In setting interest rates, we carefully balance the needs of both our borrowers and depositors, with the aim to keep our rates competitive for as many members as possible.

Savings and other interest-bearing deposit products will benefit from increases of up to 0.55% per annum. There will be no increases to credit card or personal loan rates. The new rates will take effect from 17 June 22 for term deposits and 28 June 22 for savings accounts.

Our variable rate home loans and commercial variable loans will increase by 0.50% per annum, effective from 28 June 22. Impacted members will be contacted directly in the coming weeks in relation to any changes.

bcu is committed to supporting your personal and business banking with competitive rates and features that best meet your needs. If you’d like to get in touch, please contact us via our instant messenger (click ‘Chat with us’ at the bottom of this webpage), on 1300 228 228, or visit us in branch.

View detailed interest rates