Big four banks to pass on full rate rise to customers

Westpac was the first major lender tostatement

CBA also announced it would increase the bonus interest rate on several of its savings products by 0.5 per cent, and extend the availability of its 18-month term deposit offer of 2.25 per cent. NAB personal banking group executive Rachel Slade said the bank had seen an increase in customers asking for support. “There was a spike in the number of customers making lending support contact on the day after the May rate increase, and many customers have been accessing online tools to manage their home loans including through the NAB app. We are here to help any customer who needs support,” she said.Westpac will lift variable home loan rates by 0.5 percentage points from June 21.

He predicted a further hike of 50 basis points in July and August, and 25 basis points from September to November to bring the cash rate to 2.6 per cent by the end of the year.

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Westpac to raise variable mortgage rates by 0.5 per cent, matching RBA's rate hikeWestpac takes the lead as the first major bank to pass on the full value of the Reserve Bank’s surprise rise in interest rates to mortgage borrowers. It's all Labor's fault. 😂😂😂 Why not it's free money to the banks When do I get interest rise on the small nest egg I have in the bank, I've been worried that they might start charging me to leave it there.
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