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Bendigo and Adelaide Bank announces interest rate changes

5 May 2023 |Announcements

Bendigo and Adelaide Bank has today announced changes to the pricing of its home loan and savings products following the RBA’s decision to lift the cash rate by 0.25% p.a. on Tuesday.

For Bendigo Bank home loan customers on a Variable Rate Loan, the interest rate will increase by 0.25% p.a. as of Friday 12 May. The Bank will also increase the rate on its Easy Saver deposit products by 0.35% p.a. and by 0.25% p.a. on our Reward Saver deposit product as of Thursday 18 May.

Chief Customer Officer for Consumer Banking Richard Fennell said:

"Bendigo and Adelaide Bank understands that the RBA's decision to lift interest rates will put increased pressure on borrowers and their budgets and we have a team standing by to help them with any concerns they may have.

"At the same time we recognise depositors will be pleased to see a higher return on their savings. Bendigo and Adelaide Bank has always and will continue to, carefully consider the impact rate rises have on all of our customers.

“I encourage customers who want to ensure their home loan is still the right one for them to complete our free online home loan health check and make sure it meets your current needs.”

Customers who are interested in better understanding how these changes will affect them can also use Bendigo Bank’s online Calculators and Tools where they can calculate the impact of the rate rise, prepare a family budget and more.

Borrowers who are experiencing difficulty are encouraged to get in touch with the bank to discuss their options and how we can help. Customers can speak with their local branch manager or contact the Mortgage Help Centre on 1800 652 146 or visit

Bendigo and Adelaide Bank acknowledges Aboriginal and Torres Strait Islander peoples as the First Peoples of this nation and the Traditional Custodians of the land where we live, learn and work. We pay our respects to Elders past and present as it is their knowledge and experience that holds the key to the success of future generations.

Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Information on this page can change without notice to you.
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