Queenslanders’ response to RBA rate changes
Date: 19/12/2023
Description:
As most members would be aware, on 7th December 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:
From 19th December 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.
From 19th December 2011 the interest rates paid on a number of savings accounts will also change, with the new rates as follows:
Basic Account (S16) |
Balance $50,000 plus | 0.25% p.a. |
Balance $5,000 – $49,999 | 0.10% p.a. |
Balance $0 – $4,999 | 0.00% p.a. |
MoneyMaker Account (S5) |
Balance $100,000 plus | 4.50%p.a. |
Balance $50,000 – $99,999 | 3.75% p.a. |
Balance $20,000 – $49,999 | 3.25% p.a. |
Balance $5,000 – $19,999 | 2.00% p.a. |
Balance $0 – $4,999 | 0.00% p.a. |
GoSaver Account (S30) |
Balance $2,000 plus | 4.85 % p.a. |
Balance $0 – $1,999 | 0.00% p.a. |
IPAA QLD Advantage Account(S62) |
Balance $50,000 plus | 0.25% p.a. |
Balance $5,000 – $49,999 | 0.10% p.a. |
Balance $0 – $4,999 | 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 don’t hesitate to contact us on 1800 QLD ERS.
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