Reserve Bank’s latest increase sees rate move

16 June 2023

Following the Reserve Bank’s recent decision to further increase Australia’s cash rate by 0.25%, Heritage Bank will be lifting its variable mortgage rates.

All Heritage Bank’s existing variable rate home loans will increase by 0.25% p.a., as will variable business loans. The changes will be effective from 22 June 2023.

Rates on savings accounts and term deposits are still being considered, with a decision expected shortly.

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