Queenslanders’ response to RBA rate changes
Date: 7/11/2023
Description:
As most members would be aware, on 2nd November 2011 the Reserve Bank of Australia (RBA) reduced official interest rates by 0.25%p.a. In response to this decision by the RBA, Queenslanders has resolved to alter the interest rate on a number of our lending and deposit products as follows:
Loans
From 16th November 2011, the interest rate on all mortgage secured loans with Queenslanders will reduce by 0.25%p.a. Members holding these products will receive a letter in the coming weeks with details of their new repayment details.
Savings Accounts
From 11th November 2011 the interest rates paid on MoneyMaker Accounts (S5) and GoSaver Accounts (S30) will be as follows:
MoneyMaker Account (S5) |
Balance $100,000 plus | 4.75%p.a. |
Balance $50,000 – $99,999 | 4.00% p.a. |
Balance $20,000 – $49,999 | 3.50% p.a. |
Balance $5,000 – $19,999 | 2.25% p.a. |
Balance $0 – $4,999 | 0.00% p.a. |
GoSaver Account (S30) |
Balance $2,000 plus | 5.10% p.a. |
Balance $0 – $1,999 | 0.00% p.a. |
The interest rates on our range of competitively priced term deposits has also been revised and can be viewed by clicking here.
As always, if you have any questions regading this or any other aspect of your banking with Queenslanders, please dont hesitate to contact us on 1800 QLD ERS.
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