Notice to customers: Changes to interest rates
Effective 8 October 2026, interest rates on MyState Bank variable home loans and selected savings accounts including MyState Bank Hello Saver savings account will increase.
We recognise that changes like these can affect your budget. We have carefully considered this decision and are committed to clearly explaining what it means for you and your money.
What this means for home loan customers
Variable home loan interest rates will increase by 0.25% p.a. This change applies to new and existing customers with owner-occupied or residential investment loans. Existing customer with no-longer offered residentially secured line of credits or business loans will all increase by 0.25% p.a.
To help you plan ahead, you'll soon receive an email or letter from us with details about your new loan repayment amount.
Want to receive interest rate updates from us by email?
Your statement preference controls how we send important product communications, including interest rate updates. If you choose to receive your statements electronically, we’ll send interest rate updates to you by email too.
Opt in to receive statements via email and check your email is up to date via the MyState mobile banking app or internet banking.
We’re here to help
Check out these resources to help you understand and prepare for interest rate changes:
- Interest Rate FAQs.
- How to prepare for interest rate changes.
- Review your budget with our budget planner.
Want to talk to someone?
We know interest rate changes can sometimes feel overwhelming, but you’re not alone. Our friendly Australian-based team are here to help find ways to make your mortgage work better for you. Please don’t hesitate to call us, send us a message via Online Banking or drop into your local branch.
If you need financial hardship support, you can contact our dedicated team.
What this means for your savings
There’s some good news if you have a MyState Bank Hello Saver or Bonus Saver 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 0.25% p.a. on their welcome rate for the first four months. The ongoing rate will increase, bringing it to 5.25% p.a. for balances up to $500,000.
Bonus Saver - the interest rate, when monthly criteria is met, will increase to 5.25% 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 8 October 2026) |
|---|---|---|---|---|
| Welcome Variable Interest rate* (First 4 months for new customers only) | $0 - $500,000 | 5.40% | 0.25% | 5.65% |
| Ongoing Variable Interest rate^ | $0 - $500,000 | 5.00% | 0.25% | 5.25% |
| Ongoing Variable Interest rate^ | $500,000.01+ | 2.75% | 0.25% | 3.00% |
Important details regarding Hello Saver
* Welcome Variable Interest Rate applies only to new customers for amounts up to $500,000 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 8 October 2026) |
|---|---|---|---|
| Base Interest rate | 0.05% | N/A | 0.05% |
| Bonus Interest rate (balances up to $500,000) | 4.95% | 0.25% | 5.20% |
| Maximum Interest rate | 5.00% | 0.25% | 5.25% |
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.
