We're making changes to our rates on lending and depositing products following the Reserve Bank of Australia’s (RBA) decision in June to increase the official cash rate by 25 basis points to 4.10% p.a.
The interest rate across all existing Housing and Investor loans, Business loans and all lines of credits has been increased by 0.25% p.a. in line with the RBA, and will come into effect on Friday, 16 June 2023.
We've taken the opportunity to introduce a new 12-month Term Deposit offer of 4.50% p.a.*, which will come into effect on Tuesday, 13 June 2023, as well as increasing rates on a number of other deposit products.
Chief Customer and Digital Innovation Officer, James Cudmore, said the continued rising rate environment is challenging for borrowers, but we are confident customers are well positioned to meet these changes.
“I’m thrilled that we have introduced our new 12-month Term Deposit offer of 4.50% p.a. for customers taking out a new Term Deposit,”
James Cudmore, Chief Customer and Digital innovation Officer, NGM Group
For any customers who may be experiencing concerns regarding their repayments and loan commitments, please contact our team to discuss your specific circumstances and options on 13 13 86.
*Rates are subject to change without prior notice. Refer to greater.com.au/help/interest-rates for all current interest rates.
