People with Commonwealth Bank savings accounts could be alerted to a planned rate rise.
The Commonwealth Bank is set to increase the
interest rate on a selection of its savings accounts.
People who have money in the NetBank Saver and Business Online Saver accounts will be affected by the 0.25 per cent rise, which will take place on Friday (May 7th).
A selection of variable home loan accounts will have figures put up by the organisation – which offers a range of Commonwealth Bank
credit cards – by the same percentage difference.
The Viridian Line of Credit (Residential Equity Rate) is one to have been hiked up from its old figure of 7.21 per cent to 7.46 per cent.
This will be applicable to both new and existing customers and the bank admitted it is introducing the changes to reflect the recent interest rate increase by the Reserve Bank of Australia, after it put up the official cash rate by 0.25 per cent to 4.5 per cent.
By Emma North
