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May 2026 interest rates

By Greater Bank

Following the RBA’s decision on Tuesday to increase the Official Cash Rate by 0.25% from 4.10% to 4.35% p.a. Greater Bank will also increase rates for variable loans, taking effect on 15 May 2026.

We will directly contact our variable home loan customers with their new minimum repayment details by letter and this change will be reflected in their banking app once it takes effect.

We recognise our customers have unique needs and circumstances and are here to provide support. We encourage any customers with questions or concerns to visit a branch or reach out to our contact centre on 13 13 86.

*Rates are subject to change without prior notice. Refer to greater.com.au/help/interest-rates for all current interest rates and terms and conditions.

Home loan FAQs

There are several options for setting up your home loan repayments, depending on your financial goals and circumstances. You can also choose to repay your loan weekly, fortnightly or monthly to suit your budget.

Monthly repayment only: You can easily set up an Easypay repayment for all Greater Bank home loans via online banking. The 'monthly repayment only'  option will automatically increase or decrease in line with interest rate movements. You can also opt to make your monthly repayment weekly or fortnightly. You can also choose to add an additional amount your monthly repayment if you would like to pay more each month.

Fixed amount: This option is available if you opt to nominate a fixed amount. Changes to the amount will need to be managed by you via online banking in line with interest rate movements as the repayment amount will not change automatically.  

If you have automatic transfers set up from another financial institution, you’ll need to contact them to update your repayment amount or check your current transfer amount.

You can set up an automatic home loan repayments in online banking or our mobile app.

  1. Log in and go to 'Transfer' > select the account you’d like to pay your loan from > then select your loan

  2. In the ‘Type’ field, you can select from the drop-down menu the transfer type.

    • Monthly Repayment Only – this is the monthly repayment on your loan calculated at the time of payment

    • Monthly Repayment Plus Extra – Pay a fixed amount off your loan, in addition to the monthly repayment on your loan, calculated at the time of payment.

    • Fixed Amount - As the name suggests, a fixed amount is a set amount you nominate for each payment cycle. While this is an easy way to know exactly how much you’re paying and when, the amount won’t automatically adjust, so you’ll have to update it if your minimum repayments change.
      This isn’t as big a deal if interest rates are decreasing, as this lowers the minimum repayment amount for many people who choose to pay the extra off their loan, but it’s an important consideration as interest rates increase, so you can adjust your repayment amount if necessary to ensure you don’t fall behind.

  3. If you want to set up a recurring payment, select ‘Recurring’

  4. Then select the frequency – Weekly, Fortnightly, Monthly

  5. Select a start date by tapping into the date field, and a calendar will appear.

  6. Select when you would like this to end – either ‘Never’ or ‘On a specific date’

  7. Click ‘Next’

  8. The click ‘Confirm and transfer’

If you have a scheduled Fixed Home Loan or Personal Loan repayment that you’d like to change, you can edit this by going to ‘Scheduled’ located in the side menu if accessing Online Banking on a desktop, or going to ‘Manage' > 'Scheduled’ if using the app.

  1. Select the scheduled payment for your loan

  2. Select ‘Edit’ and make your changes

  3. If you wish to delete the payment select ‘Delete’

If you have a Monthly Repayment Only or Monthly Repayment Plus Extra and wish to change this, you will need to delete these, as these payment types can’t be edited.

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