Every lender passed on the RBA hike in full. Here is when your repayment goes up.

When the Reserve Bank lifted the cash rate to 4.60 per cent on 29 September, every major lender passed the full 0.25 percentage points on to variable home loans. We checked the announcements of the big four, Macquarie, ING, BOQ, Bendigo, Suncorp and St.George, and could not find a single lender that held back any of it. What differs is the date the higher rate starts, and that date decides how much extra interest you pay before your repayment catches up.

Who moved, and from when

• BOQ: from 2 October for Classic home and business loans, 3 October for myBOQ. The earliest of the major lenders.
• Bendigo Bank: from 7 October.
• CBA: from 9 October. Lowest variable rate now 6.34 per cent.
• Westpac: from 9 October, new and existing, owner-occupier and investor. Lowest variable rate now 6.24 per cent, up from 5.99, which ends sub-6 per cent variable rates at the big four.
• NAB: from 9 October. Lowest variable rate now about 6.29 per cent.
• ANZ: from 9 October. Lowest variable rate now 6.50 per cent.
• ING, Suncorp and St.George: from 9 October. ING also says interest-only repayments change from 1 November and principal and interest repayments from 3 December.
• Macquarie: from 15 October, the latest of the large lenders. Lowest variable rate now 6.29 per cent.

CBA also lifted its eligible variable business loans by 0.25 percentage points from 9 October, and BOQ's change covers business loans as well. If you have a business loan or line of credit on a variable rate, check your notice too.

Your repayment changes later than your rate

Interest is charged at the new rate from the effective date, but your minimum repayment only rises after your lender has given you notice. CBA gives at least 20 days and Westpac, NAB and ANZ at least 30. In the gap you are paying the new interest out of the old repayment, so a little less of each payment goes to principal. It is a small amount, but if you want to keep your loan on track, lift your repayment yourself from the effective date rather than waiting for the letter.

As a guide, ANZ estimates the rise adds about $79 a month to a $500,000 owner-occupier loan. On a 30-year loan at 6.25 per cent rising to 6.50 per cent, a $600,000 balance costs about $98 a month more, and a $750,000 balance about $123.

Fixed rates rose again

Canstar counted 289 fixed rates lifted by 17 lenders in the week after the decision, by 0.24 percentage points on average, on top of the 18 lenders that raised fixed rates in September before the board met. NAB raised fixed rates by up to 0.32 points around 2 October, its second rise in about a fortnight. ANZ lifted its fixed rates again from 9 October, taking its one-year rate from 6.49 to 6.69 per cent, which is still the lowest of the big four. Only two lenders still advertised a fixed rate under 6 per cent on 9 October.

Savers got less than borrowers paid

The bonus rates on the big four's main savings accounts went up 0.25 points: CBA's Goal Saver, NAB's Reward Saver and Westpac Life now top out at 5.25 per cent, and ANZ Plus Growth Saver at 5.35 per cent. The base rates you earn when you miss a monthly condition did not move, and they are as low as 0.01 per cent. Some accounts got less than the full rise: Westpac Life for 18 to 40 year olds rose 0.20 points, BOQ's Future Saver 0.20 points, and Macquarie's savings rate for balances between $250,000 and $2 million just 0.05 points. If you keep your offset or savings with the same bank as your loan, check you are actually earning the bonus rate.

What to do this week

1. Find your notice and note the effective date and the date your new repayment starts. If you can, raise your repayment from the effective date yourself.
2. Compare your new rate with the market. The lowest advertised variable rates are around 5.94 per cent against 6.24 to 6.50 per cent at the big four. On $600,000, a 0.3 point gap is about $1,800 a year.
3. Ring your lender's retention team before you apply anywhere else. A rate cut to stay costs you nothing and keeps your existing valuation and loan structure.
4. If you refinance, check your equity first. Home values have fallen for six months, so a new valuation may come in lower than you expect.
5. Check your savings rate. If you are earning a base rate because you missed a condition, moving the money or meeting the condition is worth more than any rate cut.

Disclosure: Your Finance Guide works in conjunction with ALG Australian Lending Group (ACL 505575). Licensed brokers who meet our criteria pay Your Finance Guide a partnership fee to receive enquiries from this site. The fee is paid by the broker, not by you, and is not added to your loan. Brokers are usually also paid a commission by the lender when a loan settles. Rates and dates are as published by each lender up to 9 October 2026 and change often; check your lender's notice for your own rate.