Heritage responds to February RBA cash rate increase

16 February 2023

Heritage Bank has announced it will increase interest rates on its variable home loans by 0.25%, following the Reserve Bank of Australia’s (RBA) latest decision to increase the Official Cash Rate by the same amount.

The change will apply to all variable rate home loans, effective from Wednesday 22 February, 2023.

With the increase to the cash rate adding to the growing pressure on Heritage’s funding costs, it has become necessary to pass on the rate rise.