Reserve Bank’s latest increase sees rate move - June 2023

17 June 2023

Following the Reserve Bank’s recent decision to further increase Australia’s cash rate by 0.25%, People’s Choice will be lifting its variable mortgage rates.

All People’s Choice existing variable rate home loans will increase by 0.25% p.a., as will variable business loans. The changes will be effective from 22 June 2023.

Rates on savings accounts and term deposits are still being considered, with a decision expected shortly.

For any member feeling financial pressure, we have a range of support materials available through our financial wellbeing hub, the home loan FAQs page on our website and via our extensive network of lending specialists.