07/10/2026
Variable rate with CBA, Westpac, NAB or ANZ? Your rate changes on 9 October. Here are four things worth checking.
On 29 September the RBA lifted the cash rate by 0.25 percentage points to 4.60%. The big four banks have said they'll pass it on in full from 9 October, and Macquarie from 15 October. Other lenders set their own timing.
To put a number on it, ANZ's own example: about $79 a month extra on a $500,000 owner-occupier principal and interest loan. That's ANZ's estimate for that loan; your figure depends on your loan size, rate and remaining term.
Four things worth checking:
1. Your current rate. Lenders often price new customers more sharply than existing ones, so it's worth knowing where you sit.
2. Your offset. Money sitting in an offset reduces the interest you're charged, and that matters a little more each time rates move.
3. Your new repayment. Your lender has to let you know about the change, so keep an eye out for their letter or email with your new amount.
4. Your options, if you want them. Refinancing, fixing or splitting can suit some people and not others, depending on your circumstances. A new lender will assess you at the higher rate plus a buffer, so check before you assume you can move.
If the budget is already tight, talk to your lender early. Lenders have hardship options, and they're easier to use before a payment is missed.
Want to check where your loan stands? Message me RATE and we'll send you a 5-minute Rate Check you can do with your last statement. Please don't share your interest rate, balance or other loan details in the comments or by message.
Sources: RBA media release (29 Sep 2026); CBA, Westpac, NAB and ANZ media releases (30 Sep 2026); Macquarie media release (29 Sep 2026).
General information only, not personal advice. Consider your circumstances and seek advice before acting. Kara Collins, Credit Representative 470939, Yellow Brick Road Finance Pty Limited ACL 393195.
