MOVE Bank has changed rates on several variable and fixed home loan rates effective 23 June 2022.
These changes follow the RBA’s decision to increase the official cash rate and apply to both owner-occupied and investment loans.
We’ve made some changes to our standard variable rate home and investment loans effective 23 June 2022.
- Standard Variable Home Loan | New Annual Rate: 4.25% | Comparison Rate: 4.31%*
- Standard Variable Investment Loan | New Annual Rate: 4.84% | Comparison Rate: 4.911%*
We’ve also made some changes to our variable rate home loans effective 23 June 2022.
- Straightforward Home Loan $150,000 - $499,999 (New Business) | New Annual Rate: 2.74%^ | Comparison Rate: 2.80%*
- Straightforward Home Loan $500,000+ (New Business) | New Annual Rate: 2.64%^ | Comparison Rate: 2.70%*
- Complete Package Variable Home Loan $50,000 - $249,999 | New Annual Rate: 3.50% | Comparison Rate: 3.92%
- Complete Package Variable Home Loan $250,000 - $499,999 | New Annual Rate: 3.40% | Comparison Rate: 3.82%
- Complete Package Variable Home Loan $500,000 - $749,999 | New Annual Rate: 3.30% | Comparison Rate: 3.73%
- Complete Package Variable Home Loan $750,000+ | New Annual Rate: 3.20% | Comparison Rate: 3.63%
We’ve also made some changes to our fixed rate home loans effective 23 June 2022.
- Complete Package 1Y Fixed Rate Home Loan | New Annual Rate: 3.99% | Comparison rate: 3.97%
- Complete Package 2Y Fixed Rate Home Loan | New Annual Rate: 4.49% | Comparison rate: 4.10%
- Complete Package 3Y Fixed Rate Home Loan | New Annual Rate: 5.19% | Comparison rate: 4.36%
- Complete Package 5Y Fixed Rate Home Loan | New Annual Rate: 5.79% |Comparison rate: 4.87%
We’ve also made the following changes to our variable investment loans effective 23 June 2022.
- Straightforward Investment Loan $150,000 - $499,999 (New Business) | New Annual Rate: 2.89% | Comparison Rate: 2.95%*
- Straightforward Investment Loan $500,000+ (New Business) | New Annual Rate: 2.79% | Comparison Rate: 2.85%*
- Complete Package Variable Investment Loan $100,000 - $249,999 | New Annual Rate: 4.09% | Comparison Rate: 4.50%
- Complete Package Variable Investment Loan $250,000 - $499,999 | New Annual Rate: 3.99% | Comparison Rate: 4.40%
- Complete Package Variable Investment Loan $500,000 - $749,999 | New Annual Rate: 3.89% | Comparison Rate: 4.30%
- Complete Package Variable Investment Loan $750,000+ | New Annual Rate: 3.79% | Comparison Rate: 4.21%
We’ve also made the following changes to our fixed investment loans effective 23 June 2022.
- Complete Package 1Y Fixed Rate Investment Loan | New Annual Rate: 3.99% | Comparison rate: 4.49%
- Complete Package 2Y Fixed Rate Investment Loan | New Annual Rate: 4.49% | Comparison rate: 4.57%
- Complete Package 3Y Fixed Rate Investment Loan | New Annual Rate: 5.19% | Comparison rate: 4.79%
- Complete Package 5Y Fixed Rate Investment Loan | New Annual Rate: 5.79% | Comparison rate: 5.21%
As a mutual bank, we are committed to finding the right balance between delivering great value to our members, responding to changing market conditions and ensuring we operate sustainably. The rising interest rate environment has made the decision to increase variable home and investment rates necessary.
Rates are current as at 23/06/2022 and subject to change. *Comparison rate is based on a secured loan of $150,000 for a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Fees and charges apply. Rates quoted are correct as stated and are subject to change without further notice. All rates quoted are per annum. All applications are subject to MOVE’s standard credit assessment and eligibility criteria. ^ Available on new business to MOVE Bank only. Minimum loan amount $150,000. Maximum LVR 80%. Alternate interest rates apply based on the loan purpose (owner-occupied/investment) or loan amount.
