ANZ changes variable interest rates on home loans and offers increased savings rates

Changes to the ANZ Floating Interest Rate Index will take effect on Friday 15 July 2022 and will apply to all ANZ Floating Interest Home Loan Rates in Australia. Customers will be able to see their new interest rates on the ANZ app or online banking from July 15.

To help customers meet their savings goals and provide them with the certainty of higher fixed returns, ANZ will offer a new competitive rate for its 11-month notice term deposit of 2.50% per annum from 11 July. 2022.

ANZ will also increase the bonus interest rate on Progress Saver accounts from 0.50% per annum and will increase the interest rate on ANZ Plus accounts from 0.50% per annum to 2.00% per annum, both changes taking effect from July 15.

ANZ Group Executive Australia Retail, Maile Carnegie, said: “As the cost of living has risen, some customers may be looking for help as they reconsider their family budget and ANZ is here to support them.

“We have helped nearly 100,000 customers manage their home loans during the pandemic and our teams are ready to help them now with a range of support options, including free home loan registration that can help them reorganize their loan so that it continues to meet their needs. .”

The change of 0.50% per year will increase monthly repayments by $119 on an average $450,000 home loan for a homeowner paying principal and interest. Customers can use our new home loan repayment calculator to see how this change will affect their actual loan.

In making its decision today, ANZ considered a variety of factors, including the change in the official exchange rate, the impact on customers, business performance and competition.

Earlier this week, ANZ also announced a financial relief package to help customers and businesses in flood-affected areas of central and south-east New South Wales.

ANZ offers a number of options to help customers concerned about interest rates and their repayments, including a free home loan registration that they can apply for online. They can also visit the Manage Your Loan page to help them get the most out of their home loan.

Customers seeking assistance should visit any ANZ branch, contact their local ANZ mobile lender, log on to or call 13 13 14.

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