Category: Interest Rates

We are increasing our 3, 6 & 12-month Term Deposits by 0.25% p.a. Effective 19th May 2023.
Information about the new rates is available here.

Following the Reserve Bank of Australia’s (RBA) May decision to raise the official cash rate by 0.25% p.a we have increased our variable home loan rates (excluding First Home Loans) by 0.25% p.a. effective on the 16th May 2023 for new business only.

For existing borrowers, effective 1 June 2023, we will be increasing all Variable home loans (Owner Occupied P&I and IO) and Personal Loans by 0.25% p.a. for existing home loan and personal loan borrowers, affecting repayments from 1 July 2023.

We would like to let you know that we have some exciting news regarding the decrease of our variable & fixed home loan rates which are effective on the 4th of May.

Variable Home Loan Rates

Effective 4th May 2023, members that have a variable home loan account will see the below changes:

• Decrease to the first home loan varaible rates for P&I and IO
• This is applicable for both LVR 80-90% and LVR over 90%

First Home Loan Owner Occupier P&I

• LVR 80-90% was 5.59% now 5.29%
• LVR over 90% was 6.19% now 5.39%

First Home Loan Owner Occupier IO

• LVR 80%-90% was 5.89% now 5.39%
• LVR over 90% was 5.89% now 6.49%

Fixed Home Loan Rates

Effective 4th May 2023, members that have a fixed home loan account will see the below changes:

• Decrease to 3 year fixed home loans by 0.25% for P&I only.

We’re really pleased to let you know that we’re increasing the interest rates on our U30 Super Charge savings account.

U30 Super Charge

Effective 1st May 2023, members that own a U30 Super Charge savings account will see a 0.05% rate increase.

• From 4.50%p.a  to  5.00%p.a

Members can achieve this rate across a maximum of three sub-accounts and a total of $30,000 when they elect to have their salary deposited to any Police Bank Account. To be eligible for this account, you have to be aged between 18-29 years old.

We’re really pleased to let you know that we’re increasing the interest rates on our Term Deposit accounts.

Term Deposit

Effective 6th April 2023, members that own a 3, 4 & 6 month Term Deposit account will see an increase to their rate.

We will be increasing the Term Deposit rate for our 3 & 6 month accounts by 0.25%.

Our 4 month Term Deposit accounts will be increasing by 1.60%.

We’re really pleased to let you know that we’re increasing the interest rates on our Bonus Saver and Retirement Plus accounts.

Bonus Saver

Effective 1st April 2023, members that own a Bonus Saver account will see an increase to their rate.

We will be increasing the Bonus Rate for our Bonus Saver account by 0.25%. The total available rate for Bonus Saver holders will be 3.55%.

Retirement Plus

Effective 1st April, we will be increasing the interest rate for Retirement Plus account holders by 0.25% bringing the total rate to 1.65%.

Following the Reserve Bank of Australia’s (RBA) decision to raise the cash rate by 0.25% to 3.60% on March 7th, we have been reviewing the balance between passing on the interest rate rise to our borrowers as well as our deposit holders.

Variable Home Loans:

Effective 23rd March 2023 ,we have increased the interest rates for new variable home loan borrowers by 0.25%.

Effective 1st April , we will be increasing the interest rate for existing home loan borrowers (both Owner Occupier and Investment) by 0.25%, affecting repayments from 1 May 2023.

Personal Loans

Effective March 23rd 2023, we have increased the variable interest rate for new personal loans by 0.25%.

Effective 1st April , we will be increasing the interest rate for existing variable personal loan borrowers by 0.25%, affecting repayments from 1 May 2023.

Term Deposits

Effective 23rd March 2023 , we have increased our 12 month Term Deposits, our I12 Term Deposit has increased to 4% p.a. and our I24 Term Deposit has increased to 3.95% p.a.