Interest rates are set to go up on a selection of Commonwealth Bank deposit and variable home loan accounts.
Its decision comes soon after the Reserve Bank of Australia increased the official cash rate by 0.25 per cent to 4.25 per cent.
The bank – which offers a range of
credit cards – said it was reflecting the latest increases "in market
interest rates and wholesale funding costs".
Two of its savings accounts - the NetBank Saver and Business Online Saver – will go up by 0.25 per cent per annum by April 9th.
And these were the same accounts the organisation increased its rates by 0.25 basis points to following a rise in the official cash rate by the RBA at the beginning of March from 3.75 to four per cent.
Moreover, this month its Complete Home Loan Variable Rate will increase by a quarter of a per cent from 6.86 to 7.11 per cent and a 0.25 per cent change will occur for the Economiser (Base Variable Rate) and Viridian Line of Credit (Residential Equity Rate) deals.
By Mark Hornby
