CBA passes on RBA‘s 50 bps rate hike in full

The Commonwealth Bank of Australia (CBA) announced new interest rates, noting that they will pass on the Reserve Bank of Australia’s (RBA) official rate increase to customers in full.

Key details

Will increase home loan variable interest rates by 0.50% p.a.

Owner occupier principal and interest standard variable rate home loans will increase by 0.50% p.a. to 5.80% p.a.

New home loan variable interest rates will take effect on 15 July 2022.

Will also increase the interest rates for select savings products.

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