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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 10 November 2022.
In addition, we will also be increasing select Variable Deposit Products, effective from 21 November 2022.
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.
Bank of Sydney will be making the following changes to Variable Rate Loans effective 10 November 2022:
Home Loans and Personal Lending |
Current SVR (p.a.) |
New SVR (p.a.) |
Home Loan SVR - Principal and Interest |
7.38% |
7.63% |
Home Loan SVR - Interest Only |
7.38% |
7.63% |
Investment Home Loan SVR - Principal and Interest |
8.41% |
8.66% |
Investment Home Loan SVR - Interest Only |
8.56% |
8.81% |
BOS Basic Home Loan SVR - Principal and Interest |
5.21% |
5.46% |
BOS Basic Home Loan SVR - Interest Only |
5.63% |
5.88% |
BOS Basic Investment Home Loan SVR - Principal and Interest |
5.70% |
5.95% |
BOS Basic Investment Home Loan SVR - Interest Only |
6.00% |
6.25% |
Home Equity Maximiser Owner Occupied SVR |
9.90% |
10.15% |
Home Equity Maximiser Investment SVR |
10.27% |
10.52% |
Home Equity Maximiser - Without Arrangement |
19.08% |
19.33% |
Personal Overdraft - with Arrangement |
14.88% |
15.13% |
Personal Overdraft - without Arrangement |
19.08% |
19.33% |
Personal Loan SVR (no longer for sale) |
15.83% |
16.08% |
Business Loans and Business Lending |
Current SVR (p.a.) |
New SVR (p.a.) |
Business Loan SVR |
12.33% |
12.58% |
Business Resisec Loan SVR |
9.10% |
9.35% |
Business Resisec Overdraft SVR - with Arrangement |
12.58% |
12.83% |
Business Overdraft SVR - with Arrangement |
12.83% |
13.08% |
Business Overdraft SVR - without Arrangement |
19.33% |
19.58% |
Commercial Loans Non Property SVR |
11.68% |
11.93% |
Commercial Loans SVR |
12.18% |
12.43% |
Commercial Construction SVR |
12.43% |
12.68% |
Commercial Resisec Loan SVR |
9.10% |
9.35% |
Existing Bank of Sydney loan customers will receive written notice detailing their new rate and repayment information.
The following new variable deposit rates will be applicable from 21 November 2022:
BOS Saver Account
Tier |
Current rate (p.a.) |
New rate (p.a.) |
$0 to $4,999 |
0.00% |
0.00% |
$5,000 to $5,000,000 |
2.40% |
2.65% |
$5,000,000 + |
0.00% |
0.00% |
SmartNet Account
Tier |
Current rate (p.a.) |
New rate (p.a.) |
$0 to $9,999 |
0.85% |
0.95% |
$10,000 to $24,999 |
0.90% |
1.00% |
$25,000 and $249,999 |
2.10% |
2.35% |
$250,000 to $499,999 |
2.10% |
2.35% |
$500,000 to $1M |
2.10% |
2.35% |
$1M+ |
2.10% |
2.35% |
Controlled Money Trust Account
Tier |
Current rate (p.a.) |
New rate (p.a.) |
$1+ |
1.80% |
2.00% |
Cash Collateral Account (effective date 03 November 2022)
Tier |
Current rate (p.a.) |
New rate (p.a.) |
$1+ |
2.60% |
2.85% |
Customers who would like more information about these changes or their specific home loan arrangements or deposits, may visit our website at www.banksyd.com.au/contact-us or call us on 13 95 00 (Mon – Fri, 9am – 5pm AEST).