Queenslanders reaction to recent change in official cash rates
Following the recent change in official cash rates by the Reserve Bank of Australia (RBA), Queenslanders has reviewed the interest rates we offer on our full range of deposit and lending products. The following changes will take effect from 24th May 2016 for existing loans and savings accounts.
Loans
The interest rate on all existing variable rate home loans and mortgage secured variable rate commercial loans will be reduced by 0.15%.
Deposits
The interest rate on the GoSaver Account will be reduced to 2.30%p.a.;
The interest rates on the MoneyMaker Account will be amended as follows:
| Balance $100,000 plus | 2.20% p.a. |
| Balance $50,000 – $99,999 | 1.45% p.a. |
| Balance $20,000 – $49,999 | 0.95% p.a. |
| Balance $5,000 – $19,999 | 0.20% p.a. |
| Balance $0 – $4,999 | 0.00% p.a. |
The interest rates on Pensioner Accounts will be amended as follows:
| Balance $48,600 plus | 3.00% p.a. |
| Balance $0 to $48,600 | 1.50% p.a. |
The interest rates on Access Savings and Basic Accounts will be amended as follows:
| Balance $5,000 plus | 0.10% p.a. |
| Balance $0 to $4,999 | 0.00% p.a. |
A list of frequently asked questions regarding these changes have been prepared and are available by following this link.
As always, if you have any questions regarding these changes, please do not hesitate to contact us on 1800 753 377.
