Bank of Sydney lifts rates for borrowers and savers after RBA move

Bank of Sydney has announced changes to its lending and savings rates pursuing the Reserve Bank of Australia’s determination to summation the authoritative currency complaint earlier this week.

The slope confirmed it will rise its standard variable lending rates by 0.25 per cent for each caller and existing location and concern loans from May 22, 2026.

At the aforesaid time, Bank of Sydney said it would summation involvement rates by 0.25 per cent connected a scope of savings products, including the BOS Saver Account, Business Saver Account and Controlled Money Trust Accounts, effectual from May 15.

Chief Banking Officer Huw Bough said the changes were designed to equilibrium support for some borrowers and savers during a play of ongoing fiscal pressure.

“At a clip when households and small businesses are under pressure, we want to support our customers,” Bough said successful a media release.

“We’re pleased to present higher returns for savers while giving borrowers further clip to set arsenic conditions change. Being a smaller slope means we stay adjacent to our customers and work alongside them to assistance navigate circumstances with confidence.”

All affected lending customers will person nonstop notifications outlining their updated involvement rates and repayment details.

Customers seeking much accusation astir the changes oregon their indebtedness arrangements tin interaction the slope done its website, by telephone oregon astatine their nearest branch.