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Following the Reserve Bank of Australia’s recent announcement to increase the cash rate target by 0.25% p.a., we will be increasing our applicable Standard Variable Interest Rates by 0.25% p.a. for all new and existing Variable Rate Loans, effective from 16 May 2022.
In addition to increasing our Loan rates, we have also increased our rates for Term Deposits.
This decision reflects the changes in funding costs as well as the current economic and regulatory environment. This is important to ensure we are able to continue providing cost-effective products and exceptional service to every one of our valued customers.
Effective 16 May 2022, Bank of Sydney will be making the following changes:
|
Home Loans |
Current SVR |
New SVR |
|
Home Loan SVR - Principal and Interest |
4.88% |
5.13% |
|
Home Loan SVR - Interest Only |
4.88% |
5.13% |
|
Investment Home Loan SVR - Principal and Interest |
5.91% |
6.16% |
|
Investment Home Loan SVR - Interest Only |
6.06% |
6.31% |
|
BOS Basic Home Loan SVR - Principal and Interest |
2.71% |
2.96% |
|
BOS Basic Home Loan SVR - Interest Only |
3.13% |
3.38% |
|
BOS Basic Investment Home Loan SVR - Principal and Interest |
3.20% |
3.45% |
|
BOS Basic Investment Home Loan SVR - Interest Only |
3.50% |
3.75% |
|
Home Equity Maximiser Owner Occupied SVR |
7.40% |
7.65% |
|
Home Equity Maximiser Investment SVR |
7.77% |
8.02% |
|
Home Equity Maximiser - without Arrangement |
16.58% |
16.83% |
|
Personal Overdraft - with Arrangement |
12.38% |
12.63% |
|
Personal Overdraft - without Arrangement |
16.58% |
16.83% |
|
Business Loans |
Current SVR (p.a.) |
New SVR |
|
Business Loan SVR |
9.83% |
10.08% |
|
Business Resisec Loan SVR |
6.60% |
6.85% |
|
Business Resisec Overdraft SVR - with Arrangement |
10.08% |
10.33% |
|
Business Overdraft SVR - with Arrangement |
10.33% |
10.58% |
|
Business Overdraft SVR - without Arrangement |
16.83% |
17.08% |
|
Commercial Non Property SVR |
9.18% |
9.43% |
|
Commercial Loan SVR |
9.68% |
9.93% |
|
Commercial Construction SVR |
9.93% |
10.18% |
|
Commercial Resisec Loan SVR |
6.60% |
6.85% |
Existing Bank of Sydney loan customers will receive written notice detailing their new rate and repayment information. Customers who would like more information about these changes or their specific home loan arrangements may visit our website at www.banksyd.com.au/contact-us or call us on 13 95 00 (Mon – Fri, 9am – 5pm AEST).