August RBA rate hike: Which banks have increased home loan rates?

Last Updated: 10:00am 9 August
The Reserve Bank Australia announced another cash rate hike–this time by 50 basis points bringing the official rate to 1.85%.
This is the fourth increase of the year, with many economists speculating that we will continue to see more rate rises well into 2023. Westpac and NAB experts predict that the official cash rate will peak at 3.35%.
In the past three months, we’ve seen lenders increase their interest rates for variable home loan rates, fixed home loan rates, savings accounts and term deposits. In July, we saw about 71% of lenders tracked in Mozo’s database pass the whole 50bp hike to customers. It’s likely that we will see similar movement for August’s rate hike.
Which lenders have moved on home loan interest rates?
Banks and lenders’ response times to today’s announcement will vary. To help you keep track of major changes this page will be regularly updated with the size of the rate hike and when it’ll come into effect.
Below we’ve put a snapshot of the average owner occupier^ home loan rates in Mozo’s database as of 2 August 2022 to reference. These numbers are likely to jump in the coming weeks.
Loan Type | Average |
Variable | 4.10% p.a. |
1-year fixed | 4.84% p.a. |
2-year fixed | 5.43% p.a. |
3-year fixed | 5.79% p.a. |
4-year fixed | 6.17% p.a. |
5-year fixed | 6.29% p.a. |
Big Four

Commonwealth Bank
- Effective 12 August, CBA will increase its home loan variable interest rates by 0.50% p.a.
- Effective 12 August, the NetBank Saver will increase to 0.85% p.a. with a 5-month introductory rate of 1.80% p.a.
- Effective 8 August, its 18-month term deposit will be at 3.00% p.a.
ANZ
- Effective 12 August, ANZ will increase its home loan variable interest rates by 0.50% p.a.
- Effective 8 August, ANZ Plus Saver account will increase to 2.50% p.a.
- Effective 8 August, ANZ will have a 11-month term deposit with a 3.00% p.a. interest rate.
Westpac
- Effective 18 August, Westpac will increase its variable home loan interest rates
- Effective 9 August, Westpac will offer a special 4-year fixed rate of 4.99% p.a.
- Effective 18 August, Westpac Life's interest rate will increase to 1.80%.
- Westpac's Spend&Save will increase to 3.25% p.a.
- Westpac eSaver will increase to 0.85% p.a. and its 5 month introductory rate will increase to 1.80% p.a.
- Effective 8 August, Westpac will offer a 3.00% p.a. rate for 12-23 month term deposits.
NAB
- Effective 12 August, NAB will increase its variable home loan interest rates by 0.50% p.a.
- Effective 12 August, NAB will also increase its iSaver and Reward Saver by 0.50% p.a.
- It's 12-month term deposits will increase to 3.00% p.a.
Banks

Macquarie Bank
- Effective 12 August, home loan variable rates will increase by 0.50% p.a.
- Effective 5 August, some fixed home loan rates will decrease by 0.75% p.a.
- Effective 12 August, Macquarie's savings account interest rates will increase by 0.50% p.a. to a total of 2.25% p.a.
- Effective 3 August, new Macquarie customers receive an introductory savings rate of 3.10% p.a. for the first four months.
- Effective 4 August, several of Macquarie's term deposit rates will increase. 3 month term (2.35% p.a.), 6 month term (2.70% p.a.), 9 month term (3.00% p.a.), and 12 month term (3.30%)
Bank of Queensland
- Effective 9 August, BOQ's variable home loan interest rates will increase by 0.50% p.a.
ME Bank
- Effective 6 August, ME Bank will increase its variable home loan interest rates by 0.50% p.a.
Virgin Money
- Effective 9 August, Virgin will increase its variable interest rates for home loans by 0.50% p.a.
Bankwest
- Effective 12 August, Bankwest will increase its variable interest rate for home loans by 0.50% p.a.
- Bankwest will also increase its savings accounts by 0.50% p.a. Its Variable Hero Rate will be at 2.00% p.a. and its Easy Saver Rate will be at 1.80% p.a.
MyState Bank
- Effective 15 August, MyState Bank will increase its home loan variable interest rates by 0.50% p.a.
Australian Unity Bank
- Australian Unity Bank is increasing its variable home loans by 0.50% p.a from 5 August for existing customers and 12 August for new customers.
Suncorp Bank
- Effective 12 August, it will increase its home loan variable interest rates by 0.50% p.a.
BankSA
- Effective 18 August, BankSA will increase its variable home loan interest rates by 0.50% p.a.
Bank of Melbourne
- Effective 18 August, Bank of Melbourne will increase its home loan variable interest rates by 0.50% p.a.
Newcastle Permanent
- Effective 12 August, Newcastle Permanent will increase its home loan variable interest rates by 0.50% p.a.
- It will also offer a special 3.05% p.a. interest rates for its 12-month term deposits.
Bendigo & Adelaide Bank
- Effective 12 August, the banks will increase home loan variable interest rates by 0.50% p.a.
Australian Military Bank
- Effective 17 August, variable home loans will increase by 0.50% p.a.
- Effective 5 August, Australian Military Bank will increase several of its deposit taking products.
Greater Bank
- Effective 10 August, Greater Bank will increase its variable home loans by 0.50% p.a.
RAMS
- Effective 18 August, RAMS will increase its variable home loans by 0.50% p.a.
Qudos
- Effective 18 August, Qudos Bank will increase its variable home loans, personal loans, and some credit cards by 0.50% p.a.
- Qudos will also increase its Bonus Saver rate by 0.50% p.a., while the QSaver rate will only increase by 0.40% p.a.
Queensland Country Bank
- Effective 19 August, Queensland Country bank will increase its variable home loans by 0.50% p.a.
St. George
- Effective 18 August, St. George will increase its variable home loans by 0.50% p.a.
ING
- Effective 9 August, ING will increases its variable home loans by 0.50% p.a.
ING'S Savings Maximiser account will also increase its maximum interest rate to 3.10% p.a.
Family First Credit Union
- Effective 4 August, Family First Credit Union will increase its variable home loans by 0.50% p.a.
Bank of us
- Effective 5 August, Banks of us will increase its variable home loans by 0.50% p.a.
Auswide Bank
- Effective 12 August, Auswide Bank will increase its variable home loans by 0.50% p.a.
AMP Bank
- Effective 12 August, AMP will increase its variable home loans by 0.50% p.a.
Online Lenders

Homestar Finance
- Effective 4 August, Homestar will increase its variable home loan interest rates by 0.50% p.a.
loans.com.au
- Effective 5 August, loans.com.au will increase its variable home loans by 0.50% p.a.
firstmac
- Effective 5 August, firstmac will increase its variable home loans by 0.50% p.a.
Athena Home Loans
- Effective 4 August, Athena Home Loans will increase its variable home loans by 0.50% p.a.
Worried about about getting a home loan? Check out our home loan comparison page for more information. Or look at our home loan rate change calculator to see how the new hike might affect your repayments.
Loan details
Repayment change if rates change
-
Promoted
Mozo experts choice awards won:
- Low Cost Home Loan - 2024
Unloan Variable
- Owner Occupier
- LVR <80%
- Interest rate
-
5.99
%
p.a.
Variable
- Comparison rate
-
5.90
%
p.a.
- Initial monthly repayment
-
$2,995
Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
- interest rate
-
5.99% p.a. (5.90% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$0
- Ongoing fees
-
$0.00
- Discharge Fee
-
$0.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$10,000
- maximum borrowing amount
-
$10,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
no
- Other restrictions
-
-
- Other benefits
-
Rate discounted by 0.01% p.a. every year up to a maximum discount of 0.30% p.a..
- Special Offers
-
-
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Basic Home Loan
- Fixed
- Owner Occupier
- Principal & Interest
- LVR<70%
- Interest rate
-
5.55
%
p.a.
Fixed 2 years
- Comparison rate
-
6.05
%
p.a.
- Initial monthly repayment
-
$2,855
No upfront or ongoing fees. Free extra repayments and redraw facility. Fast approval times. Min 30% deposit required. Borrow up to $10,000,000.
- interest rate
-
1 year - 5.69% p.a. (6.12% p.a.*)
2 years - 5.55% p.a. (6.05% p.a.*)
3 years - 5.55% p.a. (6.00% p.a.*)
4 years - 5.69% p.a. (6.00% p.a.*)
5 years - 5.69% p.a. (5.97% p.a.*)
- Fixed loan revert rate
-
6.14% p.a.
- Upfront fees
-
$350
- Ongoing fees
-
$0.00
- Discharge Fee
-
$400.00
- Package
-
-
- Maximum loan to value ratio
-
70.00%
- minimum borrowing amount
-
$150,000
- maximum borrowing amount
-
$10,000,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Monthly
- Extra repayments
-
yes - up to $10,000 p.a.
- Redraw facility
-
yes - free
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
-
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about Macquarie home loans
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Variable Home Loan 90
- Principal and Interest
- LVR <90%
- Interest rate
-
6.04
%
p.a.
Variable
- Comparison rate
-
6.08
%
p.a.
- Initial monthly repayment
-
$3,011
Affordable home loan rate for buyers or refinancers. No monthly or ongoing fees. Option to add an offset for 0.10%. Access to savings with unlimited redraws available. Minimum 10% deposit required.
- interest rate
-
6.04% p.a. (6.08% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$530
- Ongoing fees
-
$0.00
- Discharge Fee
-
$0.00
- Package
-
-
- Maximum loan to value ratio
-
90.00%
- minimum borrowing amount
-
$50,000
- maximum borrowing amount
-
$2,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
yes
- Split account
-
yes
- Other restrictions
-
Offset sub-account available for additional +0.10%. $300 discharge fee and $250 discharge documentation fee applicable if loan doesnt go to full term.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about loans.com.au home loans
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Promoted
OMG Home Loan
- Owner Occupier
- Principal & Interest
- <60% LVR
- Interest rate
-
5.99
%
p.a.
Variable
- Comparison rate
-
6.02
%
p.a.
- Initial monthly repayment
-
$2,995
BCU Bank’s OMG owner occupied home loan offers a variety of great low rates depending on your deposit. Save with no ongoing annual fees. Access your extra payments when you need to through the redraw facility. Pre-approval valid for 3 months.
- interest rate
-
5.99% p.a. (6.02% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$300
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
$5,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
-
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about BCU Bank home loans
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Promoted
Offset Home Loan
- Fixed
- Owner Occupier
- Principal & Interest
- LVR <70%
- Interest rate
-
5.55
%
p.a.
Fixed 2 years
- Comparison rate
-
6.28
%
p.a.
- Initial monthly repayment
-
$2,855
Convenient offset account. No upfront or ongoing fees. Free extra repayments and redraw facility. Fast approval times. Min 30% deposit required. Borrow up to $10,000,000.
- interest rate
-
1 year - 5.69% p.a. (6.34% p.a.*)
2 years - 5.55% p.a. (6.28% p.a.*)
3 years - 5.55% p.a. (6.22% p.a.*)
4 years - 5.69% p.a. (6.23% p.a.*)
5 years - 5.69% p.a. (6.20% p.a.*)
- Fixed loan revert rate
-
6.14% p.a.
- Upfront fees
-
$350
- Ongoing fees
-
$248.00 yearly
- Discharge Fee
-
$400.00
- Package
-
Package
- Maximum loan to value ratio
-
70.00%
- minimum borrowing amount
-
$150,000
- maximum borrowing amount
-
$10,000,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Monthly
- Extra repayments
-
yes - up to $10,000 p.a.
- Redraw facility
-
yes - free
- Minimum redraw amount
-
-
- Offset account
-
yes
- Split account
-
yes
- Other restrictions
-
-
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about Macquarie home loans
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Promoted
Basic Variable Home Loan
- Owner Occupier
- LVR <60%
- Interest rate
-
6.13
%
p.a.
Variable
- Comparison rate
-
6.16
%
p.a.
- Initial monthly repayment
-
$3,040
Competitive interest rate. No ongoing monthly loan maintenance fees. You can redraw your repayments if you’re ahead. Choose to repay weekly, fortnightly, or monthly. Make extra payments without penalty, to pay off your home loan even faster.
- interest rate
-
6.13% p.a. (6.16% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$300
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
-
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Legal and valuation fees charged at cost.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about P&N Bank home loans
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Promoted
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- Fixed Rate Home Loan - 2024
- Investor Fixed Home Loan - 2024
Fixed Rate Home Loan
- Owner Occupier
- Principal & Interest
- Interest rate
-
5.74
%
p.a.
Fixed 2 years
- Comparison rate
-
6.16
%
p.a.
- Initial monthly repayment
-
$2,915
Secure a low rate and enjoy the certainty of repayments, with the BCU Fixed Rate Home Loan. Save with no ongoing annual fees. Pay up to $25,000 extra during a fixed period (T&Cs apply). Lock in for up to 5 years.
- interest rate
-
1 year - 6.49% p.a. (6.28% p.a.*)
2 years - 5.74% p.a. (6.16% p.a.*)
3 years - 6.29% p.a. (6.27% p.a.*)
4 years - 6.49% p.a. (6.35% p.a.*)
5 years - 6.49% p.a. (6.37% p.a.*)
- Fixed loan revert rate
-
6.23% p.a.
- Upfront fees
-
$300
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
95.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
$5,000,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free up to $25,000 during fixed period
- Redraw facility
-
no
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Additional repayments allowed up to $25,000 during the fixed period.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about BCU Bank home loans
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Promoted
Fixed Rate Home Loan
- Owner Occupier
- LVR<80%
- Interest rate
-
5.74
%
p.a.
Fixed 2 years
- Comparison rate
-
6.21
%
p.a.
- Initial monthly repayment
-
$2,915
Get repayment security with fixed rates from one to five years. Free extra repayments of up to $25,000 during the fixed rate period. Fix a portion of your loan and leave the rest variable. Choose to repay weekly, fortnightly, or monthly.
- interest rate
-
1 year - 6.54% p.a. (6.34% p.a.*)
2 years - 5.74% p.a. (6.21% p.a.*)
3 years - 6.39% p.a. (6.35% p.a.*)
4 years - 6.49% p.a. (6.39% p.a.*)
5 years - 6.49% p.a. (6.41% p.a.*)
- Fixed loan revert rate
-
6.29% p.a.
- Upfront fees
-
$300
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
-
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest, Interest Only
- Availability
-
Owner Occupier
- Repayment options
-
Monthly
- Extra repayments
-
yes - free up to $25,000 during fixed period
- Redraw facility
-
no
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Legal and valuation fees charged at cost.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about P&N Bank home loans
Go to site -
Promoted
Intro Discounted Standard Variable Rate
- Owner Occupier
- Principal & Interest
- Interest rate
-
6.20
%
p.a.
Variable for 12 months and then 6.60% p.a.
- Comparison rate
-
6.56
%
p.a.
- Initial monthly repayment
-
$3,191
Enjoy a discount of 0.40% p.a. applied for the first 12 months of the loan. No application, account or establishment fees to pay to help pay. Make additional repayments without being penalised. Other fees may apply. 20% deposit required.
- interest rate
-
6.60% p.a. (6.56% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$0
- Ongoing fees
-
$0.00
- Discharge Fee
-
-
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$100,000
- maximum borrowing amount
-
$2,500,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$1.00
- Offset account
-
yes
- Split account
-
no
- Other restrictions
-
Legal and exit fee at cost. Valuation fee charged at cost, starting from $132.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about SWSbank home loans
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Promoted
Fixed Home Loan
- Owner Occupier
- Principal & Interest
- LVR <95%
- Interest rate
-
5.69
%
p.a.
Fixed 2 years
- Comparison rate
-
6.20
%
p.a.
- Initial monthly repayment
-
$2,899
Get the security of a competitive fixed rate home loan for 2 years with IMB. Get up to $4,000 cashback (T&Cs apply). Up to 12 months repayments in advance without penalties. Free Internet and Mobile Banking redraws (T&Cs apply). Up to a 30 year loan term. Split loan available. No offset account.
- interest rate
-
1 year - 6.19% p.a. (6.30% p.a.*)
2 years - 5.69% p.a. (6.20% p.a.*)
3 years - 5.69% p.a. (6.16% p.a.*)
4 years - 5.89% p.a. (6.19% p.a.*)
5 years - 5.89% p.a. (6.17% p.a.*)
- Fixed loan revert rate
-
6.24% p.a.
- Upfront fees
-
$799
- Ongoing fees
-
$6.00 monthly
- Discharge Fee
-
$350.00
- Package
-
-
- Maximum loan to value ratio
-
95.00%
- minimum borrowing amount
-
$10,000
- maximum borrowing amount
-
$5,000,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free up to 1 year in advance
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$500.00
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Monthly fee only applies to fixed period of loan.
- Other benefits
-
-
- Special Offers
-
$4,000 cashback for loans $750,000 and above with a maximum LVR of 80%, settled within 90 days of application for refinancers or 180 for purchase loans. $3,000 for loans between $500k and $749k, $2,000 for loans between $250k and $499k.
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Your selected home loans
* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
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