Australia

Third Big 4 Bank Passes Rate Hikes onto Mortgage Holders

Another of Australia’s Big 4 Bank Moved to take over civil servants interest rate Increase to your customers.

Westpac joins Commonwealth Bank and ANZ in announcing the latest cash rate increase from the Reserve Bank of Australia.

person who has Housing loan It will face the full 0.5% hike in floating rates that the RBA announced on Tuesday.
Commonwealth Bank became the first Big 4 to approve the Reserve Bank of Australia’s latest cash rate hike. (Attila Chassar)

Interest rates on some savings products will also increase.

CommBank was the first to announce this change, followed closely by ANZ.

Both of these agency changes will take effect on August 12th, and Westpac customers will see the changes on August 18th.

ANZ will also increase interest rates on all variable mortgages.

NAB has not yet announced its response to the RBA’s decision.

Macquarie Bank said on Tuesday afternoon that variable mortgage rates would rise by 0.5% next Friday, taking far less time to announce an official rate hike.

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Third Big 4 Bank Passes Rate Hikes onto Mortgage Holders

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