NAB was the first of the big four banks to respond.įor mortgage holders: The standard variable home loan interest rate will increase by 0.25 per cent per annum, effective from November 17, 2023.įor savings accounts: The NAB Reward Saver bonus interest rate will increase to 5 per cent per annum, effective from November 17, 2023. We'll be updating this story as information comes through, so check back later if you don't see any information about the bank you're after. Here's a breakdown of how the banks have responded to the decision. That means the RBA's cash rate target is now 4.35 per cent.
The Reserve Bank of Australia (RBA) hiked the cash rate by 0.25 percentage points after the monthly meeting on Tuesday.
