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 6 December 2022, we will be increasing our interest rates across several deposit and lending products.
The complete list of upcoming rate changes for BCU products can be found below.
Effective from Thursday 15 December 2022, the following changes to our variable home loan interest rates will apply:
| Owner Occupied Home Loans | Current rate | New rate |
| Offset Home Loan < 60% LVR (P&I) | 4.54% p.a. | 4.79% p.a. |
| Offset Home Loan 60% - 80% LVR (P&I) | 4.69% p.a. | 4.94% p.a. |
| Offset Home Loan 80% - 95% LVR (P&I) | 4.94% p.a. | 5.19% p.a. |
| OMG Home Loan < 60% LVR (P&I) | 4.34% p.a. | 4.59% p.a. |
| OMG Home Loan 60% - 80% LVR (P&I) | 4.49% p.a. | 4.74% p.a. |
| OMG Home Loan 80% - 95% LVR (P&I) | 4.74% p.a. | 4.99% p.a. |
| Standard Variable Home Loan (P&I) | 6.81% p.a. | 7.06% p.a. |
| Maximum Discounted Rate Home Loan (P&I) | 6.11% p.a. | 6.36% p.a. |
| OMG Home Loan (IO) | 5.39% p.a. | 5.64% p.a. |
| Standard Variable Home Loan (IO) | 6.87% p.a. | 7.12% p.a. |
| Maximum Discounted Rate Home Loan (IO) | 6.17% p.a. | 6.42% p.a. |
| All-in-One Line of Credit | 6.94% p.a. | 7.19% p.a. |
| Maximum Discount All-in-One Line of Credit | 6.24% p.a. | 6.49% p.a. |
| Bridging Loan | 8.26% p.a. | 8.51% p.a. |
| Investment Home Loans | Current rate | New rate |
| Basic Investment Loan < 70% LVR (P&I) | 4.79% p.a. | 5.04% p.a. |
| Basic Investment Loan > 70% LVR (P&I) | 4.89% p.a. | 5.14% p.a. |
| Standard Variable Home Loan (P&I) | 5.69% p.a. | 5.94% p.a. |
| Maximum Discounted Rate Home Loan (P&I) | 4.99% p.a. | 5.24% p.a. |
| Basic Investment Loan (IO) | 5.44% p.a. | 5.69% p.a. |
| Standard Variable Home Loan (IO) | 7.07% p.a. | 7.32% p.a. |
| Maximum Discounted Rate Home Loan (IO) | 6.37% p.a. | 6.62% p.a. |
| All-in-One Line of Credit | 7.10% p.a. | 7.35% p.a. |
| Maximum Discount All-in-One Line of Credit | 6.40% p.a. | 6.65% p.a. |
Effective from Thursday 15 December 2022, the following changes to our variable rate commercial loans will apply:
| Commercial lending | Rate increase |
| Commercial Variable Loan (P&I) | 0.25% p.a. |
| Commercial Variable Loan (IO) | 0.25% p.a. |
| Commercial Variable Loan Special (IO) | 0.25% p.a. |
| Commercial Property Development | 0.25% p.a. |
| Commercial overdrafts | Rate increase |
| bcu Business Access Account Overdraft | 0.25% p.a. |
| bcu Business Access Account Overdraft (Secured or Unsecured) | 0.25% p.a. |
| Commercial All-in-One Line of Credit | 0.25% p.a. |
| SMSF lending | Rate increase |
| Residential Secured SMSF P&I Variable | 0.25% p.a. |
| Residential Secured SMSF IO Variable | 0.25% p.a. |
| Commercial Secured SMSF Variable | 0.25% p.a. |
Members on the Commercial Lending and SMSF Lending products will be notified of their new rate by letter.