bcu Logo
Interest rate changes

Updates to interest rates on bcu products

In response to the Reserve Bank of Australia’s (RBA) cash rate increase of 0.25% p.a. on Tuesday 3 May 2022, we will be increasing our term deposit rates by an average of 0.27% p.a., savings account interest rates by up to 0.15% p.a and will pass on lending rate increases of between 0.15% - 0.25% p.a. to our variable rate home and commercial lending products.

The complete list of upcoming rate changes for bcu products can be found below.

Effective from Wednesday 1 June 2022, the following changes to our variable home loan interest rates will apply:

Owner Occupied Home Loans Current rate New rate
OMG Home Loan < 60% LVR (P&I) 2.19% p.a. 2.34% p.a.
OMG Home Loan 60% - 80% LVR (P&I) 2.29% p.a. 2.44% p.a.
OMG Home Loan 80% - 95% LVR (P&I) 2.39% p.a. 2.64% p.a.
Variable Rate Home Loan (P&I) 4.06% p.a. 4.31% p.a.
Maximum Discount Variable Rate Home Loan (P&I) 3.36% p.a. 3.61% p.a.
OMG Home Loan (IO) 2.94% p.a. 3.19% p.a.
Variable Rate Home Loan (IO) 4.12% p.a. 4.37% p.a.
Maximum Discount Variable Rate Home Loan (IO) 3.42% p.a. 3.67% p.a.
Line of Credit Loan 4.19% p.a. 4.44% p.a.
Maximum Discount Line of Credit Loan 3.49% p.a. 3.74% p.a.
Bridging Loan 5.51% p.a. 5.76% p.a.
Investment Home Loans Current rate New rate
Variable Rate Home Loan (P&I) 4.22% p.a. 4.47% p.a.
Maximum Discount Variable Rate Home Loan (P&I) 3.52% p.a. 3.77% p.a.
Variable Rate Home Loan (IO) 4.32% p.a. 4.57% p.a.
Maximum Discount Variable Rate Home Loan (IO) 3.62% p.a. 3.87% p.a.
Line of Credit Loan 4.35% p.a. 4.60% p.a.
Maximum Discount Line of Credit Loan 3.65% p.a. 3.90% p.a.

Effective from Friday 13 May 2022, the following changes to our Fixed Rate Home Loans will apply:

Fixed Rate Home Loans (Owner Occupied) Current rate New rate
Fixed Rate 1 Year (P&I) 2.89% p.a. 2.99% p.a.
Fixed Rate 2 Year (P&I) 3.39% p.a. 3.49% p.a.
Fixed Rate 3 Year (P&I) 3.69% p.a. 3.89% p.a.
Fixed Rate 4 Year (P&I) 4.09% p.a. 4.19% p.a.
Fixed Rate 5 Year (P&I) 4.29% p.a. 4.39% p.a.
Fixed Rate 1 Year (IO) 3.34% p.a. 3.44% p.a.
Fixed Rate 2 Year (IO) 3.64% p.a. 3.94% p.a.
Fixed Rate 3 Year (IO) 3.94% p.a. 4.34% p.a.
Fixed Rate Home Loans (Investment) Current rate New rate
Fixed Rate 1 Year (P&I) 2.99% p.a. 3.09% p.a.
Fixed Rate 2 Year (P&I) 3.49% p.a. 3.59% p.a.
Fixed Rate 3 Year (P&I) 3.79% p.a. 3.99% p.a.
Fixed Rate 4 Year (P&I) 4.19% p.a. 4.49% p.a.
Fixed Rate 5 Year (P&I) 4.39% p.a. 4.59% p.a.
Fixed Rate 1 Year (IO) 3.09% p.a. 3.19% p.a.
Fixed Rate 2 Year (IO) 3.59% p.a. 3.69% p.a.
Fixed Rate 3 Year (IO) 3.89% p.a. 4.09% p.a.
Fixed Rate 4 Year (IO) 4.29% p.a. 4.59% p.a.
Fixed Rate 5 Year (IO) 4.49% p.a. 4.69% p.a.

Effective from Friday 13 May 2022, the following changes to our savings account interest rates will apply:

Savings accounts Tier Current rate New rate
bcu Scoots Super Saver  $0 - $49,999.99 0.90% p.a. 1.00% p.a.
$50,000+ 0.10% p.a. 0.20% p.a.
bcu Dreamsaver  $0 - $29,999.99 0.50% p.a. 0.60% p.a.
$30,000+ (no change) 0.02% p.a. 0.02% p.a.
Advantage Saver   $0 - $1,999.99 (no change) 0.00% p.a. 0.00% p.a.
$2,000 - $47,999.99 0.10% p.a. 0.25% p.a.
$48,000+ 0.30% p.a. 0.45% p.a.
bcu iSaver    $0 - $999.99 (no change) 0.00% p.a. 0.00% p.a.
$1,000 - $19,999.99 0.05% p.a. 0.20% p.a.
$20,000 - $249,999.99 0.10% p.a. 0.25% p.a.
$250,000+ 0.25% p.a. 0.40% p.a.
 bcu Business iSaver  $0 - $4,999.99 0.00% p.a. 0.15% p.a.
$5,000+ 0.10% p.a. 0.25% p.a.

Effective from Wednesday 1 June 2022, the following changes to the below accounts will apply:

Commercial loans Rate increase
Commercial Variable Loan (P&I) 0.25% p.a.
Commercial Variable Loan (IO) 0.25% p.a.
Commercial Property Development 0.25% p.a.
bcu Business Access Account Overdraft 0.25% p.a.
Commercial All-in-One 0.25% p.a.

View all interest rates