BOQ responds to March RBA decision

10 March 2023

BOQ has today announced interest rate changes for variable home loan customers, following the Reserve Bank of Australia’s (RBA) decision to raise the cash rate by 0.25%.

For home loan customers

From 14 March, BOQ will lift variable home loan interest rates by 0.25% per annum (p.a.) for new and existing customers.

Responding to savings customers

BOQ understands the ongoing challenges this environment has presented to household budgets.
We have continued to reward customers by helping them build up their savings.
This month, BOQ lifted the rates on key term deposit products along with its range of myBOQ high interest savings accounts. This included a new rate of 5.15% p.a. for the Future Saver account. ¹

Support available for Customers

BOQ has a range of online resources available including home loan calculators.

Customers experiencing financial difficulty, are encouraged to contact BOQ’s dedicated Customer Assistance team as soon as you can. We’re here to help and are ready to discuss possible solutions that are right for you.

For existing home loan customers on a variable rate, BOQ will inform customers of their new repayment amount.

Customers are encouraged to visit any BOQ branch or call 1300 55 72 72 if they require further assistance or clarification regarding today's announcement.

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Legal notes:

1.The Future Saver account is available for customers aged 14 to 35. Rates inclusive of base and bonus variable interest rates. Interest is calculated on a stepped basis with different rates of interest applied to different parts of the account balance. Eligibility criteria includes depositing $1,000 into the linked Everyday account + 5 or more eligible transactions.

Interest rates from 14 March are subject to change. Terms, conditions, fees and charges apply. This is general information only and you should consider if these products are appropriate for you.

Media Release