Interest rate announcement
On 7 November, the Reserve Bank of Australia announced an increase in the official cash rate by 25 basis points.
As our new interest rate policy is to adjust our rates based on the movements of the RBA's official cash rate, our standard variable interest rate will increase from 7.60% pa to 7.85% pa effective from 24 November 2023.
While this rate is an increase, it is still lower than the 8.26% pa rate customers were paying before we updated our interest rate policy in July this year.
Customers from 16 October 2009
For all Keystart customers with loans commencing after 16 October 2009, the standard variable interest rate will be 7.85% pa effective 24 November 2023.
Customers prior to and including 16 October 2009
For all Keystart customers with loans commencing prior to and including 16 October 2009, the standard variable interest rate will be 7.07% effective 24 November 2023.
We'll be in touch.
If you're a Keystart customer, you'll receive an update from us to let you know your new minimum monthly repayment.
Download our app so you'll know when you're ready to move on with your home loan.
Our new Keystart app shows you the estimated value of your property and your loan balance, so you'll know when it's time to refinance and move on to another lender. You can also edit direct debits; check your transactions; make additional payments easily and securely; and get payment reminders. Head to your app store and search for Keystart.
If you have a fixed shared ownership loan, while you aren't able to refinance to another lender, you'll find the app has loads of useful features.
We're here to help with free financial coaching
Explore our free financial coaching service to help set financial goals and address money matters in your life.
We've also put together our Financial Wellbeing Guide to Interest Rates and it's packed with information to help you understand interest rates and tips on how to manage interest rate increases.
