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Interest rate changes

Updates to interest rates on bcu products

In response to the Reserve Bank of Australia’s (RBA) cash rate increase of 0.50% p.a. on Tuesday 7 June 2022, we will be increasing our interest rates on some of our deposit and lending products.

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

Effective from Tuesday 28 June 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) 2.44% p.a. 2.94% p.a.
Offset Home Loan 60% - 80% LVR (P&I) 2.59% p.a. 3.09% p.a.
Offset Home Loan 80% - 95% LVR (P&I) 2.74% p.a. 3.24% p.a.
OMG Home Loan < 60% LVR (P&I) 2.34% p.a. 2.84% p.a.
OMG Home Loan 60% - 80% LVR (P&I) 2.44% p.a. 2.94% p.a.
OMG Home Loan 80% - 95% LVR (P&I) 2.64% p.a. 3.14% p.a.
Standard Variable Home Loan (P&I) 4.31% p.a. 4.81% p.a.
Maximum Discounted Rate Home Loan (P&I) 3.61% p.a. 4.11% p.a.
OMG Home Loan (IO) 3.19% p.a. 3.69% p.a.
Standard Variable Home Loan (IO) 4.37% p.a. 4.87% p.a.
Maximum Discounted Rate Home Loan (IO) 3.67% p.a. 4.17% p.a.
All-in-One Line of Credit 4.44% p.a. 4.94% p.a.
Maximum Discount All-in-One Line of Credit 3.74% p.a. 4.24% p.a.
Bridging Loan 5.76% p.a. 6.26% p.a.
Investment Home Loans Current rate New rate
Basic Investment Loan < 70% LVR (P&I) 2.59% p.a. 3.09% p.a.
Basic Investment Loan > 70% LVR (P&I) 2.74% p.a. 3.24% p.a.
Basic Investment Loan (IO) 2.94% p.a. 3.44% p.a.
Standard Variable Home Loan (P&I) 4.47% p.a. 4.97% p.a.
Maximum Discounted Rate Home Loan (P&I) 3.77% p.a. 4.27% p.a.
Standard Variable Home Loan (IO) 4.57% p.a. 5.07% p.a.
Maximum Discounted Rate Home Loan (IO) 3.87% p.a. 4.37% p.a.
All-in-One Line of Credit 4.60% p.a. 5.10% p.a.
Maximum Discount All-in-One Line of Credit 3.90% p.a. 4.40% p.a.

Effective from Tuesday 28 June 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 1.00% p.a. 1.50% p.a.
$50,000+ 0.20% p.a. 0.70% p.a.
bcu Dreamsaver  $0 - $29,999.99 0.60% p.a. 0.85% 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 0.25% p.a. 0.50% p.a.
$48,000+ 0.45% p.a. 0.80% p.a.
bcu iSaver    $0 - $999.99 (no change) 0.00% p.a. 0.00% p.a.
$1,000 - $19,999.99 0.20% p.a. 0.45% p.a.
$20,000 - $249,999.99 0.25% p.a. 0.50% p.a.
$250,000+ 0.40% p.a. 0.65% p.a.
 bcu Business iSaver  $0 - $4,999.99 (no change) 0.15% p.a. 0.15% p.a.
$5,000+ 0.25% p.a. 0.40% p.a.

Effective from Tuesday 28 June 2022, the following changes to our variable rate commercial loans will apply:

Commercial lending Rate increase
Commercial Variable Loan (P&I) 0.50% p.a.
Commercial Variable Loan (IO) 0.50% p.a.
Commercial Variable Loan Special (IO) 0.50% p.a.
Commercial Property Development 0.50% p.a.
Commercial overdrafts Rate increase
bcu Business Basic Access Account Overdraft 0.50% p.a.
bcu Business Access Account Overdraft (Secured or Unsecured) 0.50% p.a.
Commercial All-in-One Line of Credit 0.50% p.a.

View all interest rates