Bank of Queensland : BOQ responds to May RBA decision and lifts savings rates

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 9 May, 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.
• To help customers build up their savings, we have continued to reward them with competitive rates.

Support available for customers

With the cash rate increasing again following a pause in April, we understand there may be some customers concerned about their financial position or experiencing financial difficulty. These customers are encouraged to contact BOQ's dedicated Customer Assistance team as soon as possible.

We're here to help and are ready to talk through options that are right for you.

BOQ also has a range of online resources available including home loan calculators. For existing home loan customers on a variable rate, BOQ will inform customers of their new monthly 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.

Legal notes:

Interest rates from 9 May 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.