Auswide Bank will decrease interest rates on the following products effective from 5 June 2025.
- For all existing variable rate Home Loans - decrease of 25bps (0.25%)
- For all existing Line of Credits - decrease of 25bps (0.25%)
- For all existing variable rate Business Loans (includes Term Loans, Line of Credits and Overdrafts) - decrease of 25bps (0.25%)
The Low Rate Visa Credit Card interest rate will decrease by 25bps (0.25%) effective 1 June 2025.
Pricing for new home loans remains under review.
Damian Hearne, Auswide Bank’s General Manager said that while market analysts and economists had largely predicted the RBA’s decision yesterday to decrease the cash rate by 0.25%, it would be welcome news to borrowers.
“For a variable loan of $500,000 over 25 years, minimum repayments will decrease by approximately $75 per month, providing welcome relief to stretched household budgets”.
Updates for customers
Auswide Bank will notify existing lending customers in writing to inform them of any changes to their repayment details.
For deposit customers, Auswide Bank is conducting a review of interest rates.
