Notice to Customers: Changes to MyState Bank deposit and lending interest rates effective 26 March 2026
18 March 2026 – Effective 26 March 2026 interest rates on MyState Bank variable home loans and select savings accounts will increase.
We recognise that changes like these can affect your budget. We have carefully considered this decision and are committed to being transparent about what it means for you and your money.
What this means for home loan customers
Variable home loan rates will increase by 0.25% p.a. This change applies to both new and existing customers across owner-occupied and residential investment loans.
We know seeing your rate increase is never the news you want to hear. To help you plan ahead, we’ll send you an email or letter shortly with all the specific details about your updated repayment amount.
Want to receive real-time updates from us? Opt in to receive statements via email and update your email address via the MyState banking app or internet banking.
We are here to help
We’ve put together some helpful resources to help guide you with rate changes:
- Interest Rate FAQs.
- How to proactively prepare for rate changes.
- When’s the last time you reviewed your budget? Use our budget planner to easily manage your budget.
Want to talk to someone?
We know interest rate changes can sometimes feel overwhelming, but you’re not alone. Our friendly local team is here to guide you, whether you prefer to call, visit a branch, or explore our online tools and resources.
If you need financial hardship support, you can contact our dedicated team.
We’re here to help find ways to make your mortgage work better for you. Please do not hesitate to call us, send us a message via Online Banking or drop into your local branch.
What this means for your savings
There’s some good news if you have a MyState Bank savings account, you’ll earn more interest on your money, helping get you closer to your savings goals.
Hello Saver - new eligible customers will enjoy an extra 0.30% p.a. on their welcome rate for the first four months. The ongoing rate will also increase, bringing it to 4.75% p.a. for balances up to $100,000.
Bonus Saver - the top rate (when monthly criteria is met) will increase to 4.75% p.a. for balances up to $500,000.
Learn more about savings accounts here.
Key deposit rate changes at a glance
Hello Saver account
| Interest type | Balance | Current rate p.a. | Rate change p.a. | New rate p.a. (effective 26 March 2026) |
|---|---|---|---|---|
| Welcome Variable Interest rate* (First 4 months for new customers only) | $0-$100,000 | 4.85% | 0.30% | 5.15% |
| Ongoing Variable Interest rate^ | $0-$100,000 | 4.50% | 0.25% | 4.75% |
| Ongoing Variable Interest rate^ | $100,000.01+ | 2.25% | 0.25% | 2.50% |
Important details regarding Hello Saver
* Welcome Variable Interest Rate applies only to new customers for amounts up to $100,000 for the first 4 months from account opening. After 4 months, all balances earn the Ongoing Variable Interest Rate applicable to the portion of your balance. If you are not a new customer to MyState Bank, you will earn the Ongoing Variable Interest Rate(s).
^ applies to portion of balance
Bonus Saver account
| Interest type | Current rate p.a. | Rate change p.a. | New rate p.a. (effective 26 March 2026) |
|---|---|---|---|
| Base Interest rate | 0.05% | N/A | 0.05% |
| Bonus Interest rate (balances up to $500,000) | 4.45% | 0.25% | 4.70% |
| Maximum Interest rate | 4.50% | 0.25% | 4.75% |
We are here to help
Have a question? Call our Australian-based Customer Care team on 138 001, send us a message via Online Banking or drop into your local branch.
