Australia’s biggest bank has hit Australian homeowners with an interest rate increase, the last of the Big Four to follow the Reserve Bank of Australia’s Melbourne Cup hike on Tuesday.
Australia’s biggest bank is the last of the Big Four to slug Aussie homeowners with another lift in interest rates. Here’s how much you’ll pay.
CommBank is pegged at 6.59 per cent while Westpac offers 6.34 per cent for two years and then increases by 0.4 per cent.ANZ expects the change will increase monthly repayments by $70 on a variable home loan of $450,000 for an owner occupier paying principal and interest. “Customers who are struggling are top of mind for us and helping customers when they need it is our priority,” he said.“We have added functionality for customers to chat online with us to explore their options, which some customers feel more comfortable doing than talking on the phone.”
“If your budget is tight, use this time to work out a way to inject relief into your finances so you can clear this extra cost. If you can’t, call your bank immediately for help.” “While most of our customers are in good shape, there may be some people who are more concerned about the first rate rise since mid-year which is why it’s crucial to reach out to your bank as soon as you can,” she said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Big four bank’s eye-watering cash windfallBanking giant NAB has reported a $7.7bn increase in cash earnings despite warning a more “challenging environment” is to come.
Read more »
‘Handsome’ Albo’s big China winAustralia and China are set to resume annual leaders’ meetings following a successful meeting between the Prime Minister and China’s second-in-command, further thawing frozen relations between the two countries.
Read more »
Reserve Bank hikes rates to 12 year highThe Reserve Bank has signalled that it is serious about taming inflation lifting interest rates by an additional 25 basis points and ratcheting the cash rate up to 4.35 per cent, its highest level since late 2011.
Read more »
RBA interest rates: By lifting rates, Reserve Bank fights the cost-of-living squeezeIncreasing the price of money to more normal levels is how you ease the pressure on ordinary Australians.
Read more »
Sonia Kruger drops bombshell announcement during first Big Brother eviction7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
National survey finds school refusal a wider problem having a big impact on familiesWith her son missing weeks of school at a time, Georgina Ker followed the 'tough love' prescription she was told would remedy her son's 'behaviour problem'. A new survey has found more than one-in-three parents have reported school refusal with their children in the past year.
Read more »