Home News Home loan rate changes after RBA's 0.25% rise: June 2023

Home loan rate changes after RBA's 0.25% rise: June 2023

Australia's cash rate has risen - how will your home loan be affected? Keep up with the latest home loan rate rise announcements.

By Harry O'Sullivan

Published on 27 Jun 2023

Fact Checked

Home loan rate changes after RBA's 0.25% rise: June 2023

The Reserve Bank of Australia (RBA) has lifted the cash rate by another 25 basis points, taking it to 4.10%.

Savings.com.au will provide regular updates below of each lenders' announcements regarding passing on this June 2023 rate hike to variable rate home loans.

All rate changes below refer to lenders’ responses to the RBA’s rate hike on 6 June 2023.

Keep updated.

Subscribe for rate change alerts.

Select a Lender:

By subscribing you agree to our privacy policy

Key notes:

P&I = Principal and Interest, IO= Interest Only, OO=Owner-occupiers
Basis points explained: 1 basis point = 0.01%

Big-four home loan rate changes

ANZ

ANZ interest rate rise:

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 16th June
Announcement date: 9th June

CommBank

CommBank interest rate rise:

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 16th June
Announcement date: 9th June

NAB

NAB interest rate rise:

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 16th June
Announcement date: 9th June

Westpac

Westpac interest rate rise

June 2023 rate rise: 25 basis points
Applies to: New and existing variable rates
Effective date: 20 June
Announcement date: 6 June

Other lenders' home loan rate changes

AMP interest rate rise

Athena interest rate rise

Australian Military Bank interest rate rise

Australian Mutual Bank interest rate rise (pending)

Australian Unity interest rate rise

Auswide interest rate rise

Bank Australia interest rate rise

Bank of Melbourne interest rate rise

Bank of Queensland (BOQ) interest rate rise

Bank of Sydney interest rate rise

Bankfirst interest rate rise (pending)

BankSA interest rate rise (pending)

BankVic interest rate rise

Bankwest interest rate rise

BCU interest rate rise

Bendigo Bank interest rate rise

Beyond Bank interest rate rise

Citi interest rate rise (pending)

Commonwealth Bank interest rate rise (pending)

Credit Union SA interest rate rise

Defence Bank interest rate rise

G&C Mutual interest rate rise

Gateway Bank interest rate rise (pending)

Great Southern Bank interest rate rise

Greater Bank interest rate rise

Heritage Bank interest rate rise

Homeloans.com.au interest rate rise

Homestar Finance interest rate rise

Horizon Bank interest rate rise

HSBC interest rate rise

Hume Bank interest rate rise (pending)

IMB Bank interest rate rise

ING interest rate rise

Loans.com.au interest rate rise

Macquarie Bank interest rate rise

ME Bank interest rate rise

Mortgage House interest rate rise

MOVE Bank interest rate rise (pending)

MyState Bank interest rate rise (pending)

Newcastle Permanent interest rate rise

OneTwo Home Loans interest rate rise (pending)

P&N Bank interest rate rise (pending)

Peoples Choice interest rate rise

Police Credit Union interest rate rise (pending)

QBank interest rate rise (pending)

Qudos Bank interest rate rise

RACQ Bank interest rate rise

RAMS interest rate rise (pending)

Reduce Home Loans interest rate rise (pending)

Resimac interest rate rise

St George interest rate rise

State Custodians interest rate rise (pending)

Suncorp Bank interest rate rise

Teachers Mutual Bank interest rate rise (pending)

The Mutual Bank interest rate rise (pending)

Tic:Toc interest rate rise

Ubank interest rate rise (pending)

UniBank interest rate rise (pending)

Unloan interest rate rise

Virgin Money interest rate rise

Well home loans interest rate rise (pending)

Wlth interest rate rise (pending)

Yard interest rate rise (pending)

AMP interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 9th June for new customers, 12th June for existing
Announcement date: 8th June

Athena interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 9th June
Announcement date: 9th June

Australian Military Bank interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 20th June
Announcement date: 9th June

Australian Unity interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 15th June
Announcement date: 9th June

Auswide interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 15th June
Announcement date: 8th June

Bank Australia interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 22nd June
Announcement date: 9th June

Bank of Melbourne interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 20th June
Announcement date: 13th June

Bank of Queensland (BOQ) interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 16th June
Announcement date: 12th June

Bank of Sydney interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 19th June
Announcement date: 19th June

BankVic interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 20th June
Announcement date: 20th June

Bankwest interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 16th June
Announcement date: 9th June

BCU interest rate rise

June 2023 rate rise: 30 basis points
Applies to: Variable-rate home loans
Effective date: 21st June
Announcement date: 20th June

Bendigo Bank interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 20th June
Announcement date: 9th June

Beyond Bank interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 20th June
Announcement date: 20th June

Credit Union SA interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 15th June
Announcement date: 9th June

Defence Bank interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 20th June
Announcement date: 20th June

Great Southern Bank interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable-rate home loans
Effective date: 15th June
Announcement date: 12th June

G&C Mutual interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 16th June
Announcement date: 16th June

Greater Bank interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 16th June
Announcement date: 9th June

Heritage Bank interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 22nd June
Announcement date: 22nd June

Homestar Finance interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 8th June
Announcement date: 8th June

Horizon Bank interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 8th June
Announcement date: 8th June

homeloans.com.au interest rate rise

June 2023 rate rise: 35 basis points
Applies to: Variable rate home loans
Effective date: 20th June
Announcement date: 20th June

HSBC interest rate rise

June 2023 rate rise: 45 basis points
Applies to: Variable rate home loans
Effective date: 26th June
Announcement date: 26th June

IMB Bank interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 20th June
Announcement date: 20th June

ING interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 14th June
Announcement date: 9th June

Loans.com.au interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 9th June
Announcement date: 9th June

Macquarie interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 23rd June
Announcement date: 9th June

ME Bank interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 23rd June
Announcement date: 9th June

Mortgage House interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 9th June
Announcement date: 9th June

Newcastle Permanent interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 16th June
Announcement date: 9th June

People's Choice interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 22nd June
Announcement date: 20th June

Qudos interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 22nd June
Announcement date: 13th June

RACQ interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 20th June
Announcement date: 12th June

Resimac interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 20th June
Announcement date: 16th June

St George interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 20th June
Announcement date: 13th June

Suncorp interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 16th June
Announcement date: 9th June

Tic Toc interest rate rise

June 2023 rate rise: 35 basis points for existing customers
Applies to: Variable rate home loans
Effective date: 26th June
Announcement date: 21st June

Unloan interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 27th June
Announcement date: 26th June

Virgin Money interest rate rise

June 2023 rate rise: 25 basis points
Applies to: Variable rate home loans
Effective date: 16th June
Announcement date: 12th June

To see how these rate movements compare with previous RBA rate changes, refer to our past rate change pages:

First published on June 2023

Ready, Set, Buy!

Learn everything you need to know about buying property – from choosing the right property and home loan, to the purchasing process, tips to save money and more!

With bonus Q&A sheet and Crossword!

By subscribing you agree to our privacy policy

Harry O'Sullivan

Harry joined Savings in November 2022. With a degree in economics from the University of Queensland, Harry is interested in topics such as inflation and GDP, and is passionate about keeping Australians informed on the external factors that impact their personal finances.

Email Articles

By subscribing you agree to our privacy policy

The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the InfoChoice Group. In the interests of full disclosure, the InfoChoice Group are associated with the Firstmac Group. Read about how InfoChoice Group manages potential conflicts of interest, along how we get paid.

Savings.com.au Pty Ltd ACN 161 358 363 operates as an Australian Financial Services Licensee and an Australian Credit Licensee Number 515843. Savings.com.au is a general information provider and in giving you general product information, Savings.com.au is not making any suggestion or recommendation about any particular product and all market products may not be considered. If you decide to apply for a credit product listed on Savings.com.au, you will deal directly with a credit provider, and not with Savings.com.au. Rates and product information should be confirmed with the relevant credit provider. For more information, read Savings.com.au's Financial Services and Credit Guide (FSCG). The information provided constitutes information which is general in nature and has not taken into account any of your personal objectives, financial situation, or needs. Savings.com.au may receive a fee for products displayed.

Explore the InfoChoice Group network: InfoChoice · Your Mortgage · Your Investment Property · Performance Drive

Our company, Savings.com.au, has obtained accreditation as a data recipient for the Consumer Data Right (CDR). You can view our CDR policy by clicking on this link.

Important information

Savings.com.au provides general information and comparison services to help you make informed financial decisions. We do not cover every product or provider in the market. Our service is free to you because we receive compensation from product providers for sponsored placements, advertisements, and referrals. Importantly, these commercial relationships do not influence our editorial integrity.

For more detailed information, please refer to our How We Get Paid, Managing Conflicts of Interest, and Editorial Guidelines pages.

Editorial Integrity

At Savings.com.au, we are passionate about helping Australians make informed financial decisions. Our dedicated editorial team works tirelessly to provide you with accurate, relevant, and unbiased information. We pride ourselves on maintaining a strict separation between our editorial and commercial teams, ensuring that the content you read is based purely on merit and not influenced by commercial interests.

Learn more about our commitment to editorial integrity in our Editorial Guidelines.

Advertiser Disclosure

Our service is free for you, thanks to support from our partners through sponsored placements, ads, and referrals. We earn compensation by promoting products, referring you, or when you click on a product link. You might also see ads in emails, sponsored content, or directly on our site.

For more details, see How We Get Paid.

Product Coverage and Sort Order

We strive to cover a broad range of products, providers, and services; however, we do not cover the entire market. Products in our comparison tables are sorted based on various factors, including product features, interest rates, fees, popularity, and commercial arrangements.

Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes.

Additionally, certain products may present forms designed to refer you to associated companies (e.g. our mortgage broker partner) who may be able to assist you with products from the brand you selected. We may receive a fee for this referral.

You can customise your search using our sorting and filtering tools to prioritise what matters most to you, although we do not compare all features and some results associated with commercial arrangements may still appear.

For more details, visit How We Get Paid and Managing Conflicts of Interest.

Comparison Rate Warning and Base Criteria

For home loans, the base criteria include a $500,000 loan amount over 30 years. For car loans, the base criteria include a $30,000 loan over 5 years. For personal loans, the base criteria include a $20,000 loan over 5 years. These rates are only examples and may not include all fees and charges.

*The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Monthly Repayment Figures

Monthly repayment figures are estimates that exclude fees. These estimates are based on the advertised rates for the specified term and loan amount. Actual repayments will depend on your circumstances and interest rate changes.

Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you.

Related Brands

Savings.com.au is proudly part of the InfoChoice Group, which includes InfoChoice.com.au, YourMortgage.com.au, YourInvestmentPropertyMag.com.au, and PerformanceDrive.com.au. The InfoChoice Group is associated with the Firstmac Group.

We may include products and services from loans.com.au, CarLoans.com.au, OnlineAuto.com.au, and YourMortgageBroker Pty Ltd, all associated with the Firstmac Group. Importantly, these brands are treated like any other commercial partner.

Learn more about how we manage conflicts of interest.

General Advice Disclosure

The information provided by Savings.com.au is general in nature and does not take into account your personal objectives, financial situation, or needs. We recommend seeking independent financial advice before making any financial decisions. Before acquiring any financial product, obtain and read the relevant Product Disclosure Statement (PDS), Target Market Determination (TMD), and any other offer documents.

Rates and product information should be confirmed with the relevant credit provider. For more information, read Savings.com.au’s Financial Services and Credit Guide (FSCG).

Home loan rate changes after RBA's 0.25% rise: June 2023

Keep updated.

Big-four home loan rate changes

ANZ

ANZ interest rate rise:

CommBank

CommBank interest rate rise:

NAB

NAB interest rate rise:

Westpac

Westpac interest rate rise

Other lenders' home loan rate changes

AMP interest rate rise

Athena interest rate rise

Australian Military Bank interest rate rise

Australian Unity interest rate rise

Auswide interest rate rise

Bank Australia interest rate rise

Bank of Melbourne interest rate rise

Bank of Queensland (BOQ) interest rate rise

Bank of Sydney interest rate rise

BankVic interest rate rise

Bankwest interest rate rise

BCU interest rate rise

Bendigo Bank interest rate rise

Beyond Bank interest rate rise

Credit Union SA interest rate rise

Defence Bank interest rate rise

Great Southern Bank interest rate rise

G&C Mutual interest rate rise

Greater Bank interest rate rise

Heritage Bank interest rate rise

Homestar Finance interest rate rise

Horizon Bank interest rate rise

homeloans.com.au interest rate rise

HSBC interest rate rise

IMB Bank interest rate rise

ING interest rate rise

Loans.com.au interest rate rise

Macquarie interest rate rise

ME Bank interest rate rise

Mortgage House interest rate rise

Newcastle Permanent interest rate rise

People's Choice interest rate rise

Qudos interest rate rise

RACQ interest rate rise

Resimac interest rate rise

St George interest rate rise

Suncorp interest rate rise

Tic Toc interest rate rise

Unloan interest rate rise

Virgin Money interest rate rise

Ready, Set, Buy!

Harry O'Sullivan

Related Guides

Guide to CommBank's Home Loans

Extraordinary' consumer confidence surges past pre-COVID levels

What is an LMI refund and am I eligible?

Which banks offer savings accounts above 5%?

Compare home loans from the big four banks 2021

Compare Westpac home loans

Why are some home loan rates rising faster than the cash rate?

How would negative interest rates work in Australia?

When will the RBA lower interest rates? Here are the top signs to look for

What is the minimum or maximum sized home or block I can get with a home loan?

Westpac subsidiaries join government guarantee schemes

How to get a property valuation

Has Phil Lowe pushed one too many buttons?

Which banks don’t allow spending on gambling?

Will Michele Bullock be our ‘Dame’ in shining armour?

Afterpay teams up with Westpac to offer savings account

Which lenders offer 10 year fixed home loans?

Important information

Editorial Integrity

Advertiser Disclosure

Product Coverage and Sort Order

Comparison Rate Warning and Base Criteria

Monthly Repayment Figures

Related Brands

General Advice Disclosure