RBA Raises Interest Rates    0.25% p.a.

6th October 2009

The Reserve Bank of Australia has announced an increase of 0.25% to Official Cash Rate. This increase by the RBA is considered to be a "Vote of Confidence" for the Australian Economy with all the signs indicating that Australia is well on it's way out of the GFC (Global Financial Crisis).

The Major Banks & other Lenders are expected to waste no time in passing on this Interest Rate rise to borrowers by increasing their Variable Interest Rates.

Listed below is a list of Banks / Lenders who have confirmed HOW MUCH & WHEN their Standard Variable Interest Rates will rise.

BANK / LENDER:       INCREASE:         NEW RATE:     EFFECTIVE DATE:

ANZ                                    0.25% p.a.            6.06% p.a.           12/10/2009 

NAB                                    0.25% p.a.            5.99% p.a.             9/10/2009

CBA                                    0.25% p.a.            5.99% p.a.            13/10/2009

Westpac                            0.25% p.a.            6.06% p.a.            12/10/2009

ING                                     0.25% p.a.            5.94% p.a.            12/10/2009

Homeside                        0.25% p.a.             6.02% p.a.             9/10/2009

Heritage                           0.25% p.a.              5.70% p.a.            15/10/2009

Suncorp                            0.25% p.a              6.05% p.a.             12/10/2009

Bank West                        0.25% p.a.             5.95% p.a.             12/10/2009

Rams (RFG)                    0.25% p.a.             5.94% p.a.             13/10/2009

St George                         0.25% p.a.             6.04% p.a.             15/10/2009

AMP Bank                         0.25% p.a.             6.14% p.a.             14/10/2009

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