The waiting is over. On Wednesday 4 November, the day after the Reserve Bank lifted the cash rate to 4.85%, all four big banks confirmed they will pass on the full 0.25% to variable home loan customers. CBA, Westpac, NAB and ANZ have all chosen the same date: Friday 13 November. ING, Suncorp, St.George, BankSA, Bank of Melbourne and several others are moving that day too. But the date your rate goes up isn't necessarily the date your repayment does. Here's the full timeline, what it could cost you, and what to check before the change lands.
The short version
- The rise: the RBA lifted the cash rate by 0.25 percentage points to 4.85% on Tuesday 3 November, in a 6–3 vote. It's the fifth rise of 2026 and takes the cash rate to its highest level since November 2008.
- The big four: CBA, Westpac, NAB and ANZ are all lifting variable home loan rates by 0.25% p.a., effective 13 November 2026.
- Others on 13 November: ING, Suncorp Bank, St.George, Bank of Melbourne, BankSA, Bankwest and Pepper Money.
- Your repayment: may change later than your rate. ING says principal and interest repayments change from 29 December, and Suncorp gives at least 20 days' notice by mail.
- The cost: Compare the Market estimates about $94 a month more on a $600,000 loan for this rise alone.
Who is moving, and when
On Wednesday morning the question was whether, and when, the big four would act. When we published that morning, none of them had said. By the end of the day all four had confirmed the full rise, and all four picked the same effective date. Here's where the main lenders stand, based on each bank's own announcement where we could check it, and on the trackers run by Finder and Compare the Market for the rest.
| Lender | Variable home loan change | Effective |
|---|---|---|
| BankVic, Southern Cross Credit Union | +0.25% p.a. | Thursday 5 November |
| Ubank | +0.25% p.a. (per Finder) | Tuesday 10 November |
| Teachers Mutual Bank group (incl. Australian Mutual Bank, Firefighters Mutual Bank, UniBank) | +0.25% p.a. | Thursday 12 November |
| CBA, Westpac, NAB, ANZ | +0.25% p.a. | Friday 13 November |
| ING, Suncorp Bank | +0.25% p.a. | Friday 13 November |
| St.George, Bank of Melbourne, BankSA, Bankwest, Pepper Money | +0.25% p.a. | Friday 13 November |
| Macquarie Bank | +0.25% p.a. | Thursday 19 November |
| Bendigo Bank, BOQ | Not yet announced | To be confirmed |
A few details from the big four's own announcements are worth knowing. CBA says all of its home loan variable rate changes take effect on 13 November. Westpac's rise applies to new and existing customers. NAB says the new rates will show in its app and internet banking from Friday 13 November. Savings.com.au reports that NAB was the first of the four to announce.
If you bank in South Australia, BankSA customers move on the same day as the big four. Bendigo Bank and BOQ hadn't shown a confirmed change on Finder's or Compare the Market's trackers when we published. If you're with a lender that isn't listed, check its website or app rather than assuming it will follow the pack.
Your rate and your repayment can change on different days
This is where a lot of borrowers get caught out. The 13 November date is when your interest rate changes. From that day, interest on your loan is charged at the higher rate. Your minimum repayment often changes later, once your lender has sent you a written notice.
How much later depends on the lender:
- ING says principal and interest repayment amounts will change from 29 December 2026, and interest-only repayments from 1 December. Customers can see their new rate from 13 November and their new principal and interest repayment from 14 November.
- Suncorp Bank says it will notify borrowers by mail and give at least 20 days' notice before a new minimum principal and interest repayment applies. It also says the minimum only changes if the difference is $50 a month or more.
- Westpac says customers paying principal and interest will be notified directly about what the change means for their repayments.
In the gap between the two dates, your repayment may stay the same while the interest charged goes up. That means slightly less of each payment goes towards paying down what you owe. For most people the effect over a few weeks is small, but it's worth knowing so the new figure doesn't come as a surprise. Our 8 October explainer goes through how this timing works in more detail.
If you already pay more than the minimum, check your lender's notice. You may find your current payment still covers the new minimum, in which case nothing changes in what leaves your account. More of each payment will simply go to interest.
What it could cost you
Compare the Market has estimated how much one 0.25% rise adds to monthly repayments, assuming an owner-occupier variable loan starting at 5.25% over 30 years:
| Loan size | Extra per month from one 0.25% rise |
|---|---|
| $500,000 | $78 |
| $600,000 | $94 |
| $750,000 | $117 |
| $900,000 | $140 |
| $1,000,000 | $156 |
Source: Compare the Market. Your own figure will depend on your balance, rate, remaining term and how often you pay.
Five rises this year
The bigger picture is the cumulative effect. On Compare the Market's figures, the five rises in 2026 add up to about $479 a month on a $600,000 loan compared with the start of the year. On an average loan of $731,000, it estimates each 0.25% rise has added around $114 a month.
That's a meaningful change for most household budgets, and it arrives in the lead-up to Christmas. If you've been absorbing each rise as it came, this is a good moment to look at the full picture rather than just this month's increase.
What to do this week
- Watch for your lender's notice. Look out for an app message, email or letter. Note two things: the date your rate changes, and the date your new repayment starts. If you can only find one of those, ask your lender.
- Check your buffer and your offset. Money in an offset account reduces the interest you're charged. If you're ahead on repayments, find out how much room that gives you.
- Check whether your rate is still competitive. After five rises, the gap between what existing customers pay and what lenders offer new borrowers can be wide. You can compare current variable rates on our Interest Rates page.
- If it's getting tight, talk to your lender early. CBA, Westpac and ANZ have all encouraged customers to get in touch sooner rather than later. Hardship options exist, and they're easier to arrange before a repayment is missed. The free National Debt Helpline is on 1800 007 007.
Savers: some banks are lifting savings rates too. Westpac Life's total variable rate with bonus interest goes up 0.25% to 5.50% p.a., and ANZ Plus Growth Saver's total rate goes to 5.60% p.a., both from 13 November, for customers who meet the bonus conditions. If you're keeping savings separate from your home loan, it's worth comparing what you earn there with what an offset could save you.
Key dates
- Thursday 5 November: BankVic and Southern Cross Credit Union rates rise.
- Tuesday 10 November: Ubank (per Finder).
- Thursday 12 November: Teachers Mutual Bank group.
- Friday 13 November: CBA, Westpac, NAB, ANZ, ING, Suncorp, St.George, Bank of Melbourne, BankSA, Bankwest and Pepper Money.
- Thursday 19 November: Macquarie.
- Tuesday 1 December: ING interest-only repayments change.
- Tuesday 8 December: the RBA's next decision, at 2:00pm Adelaide time.
- Tuesday 29 December: ING principal and interest repayments change.
Related reading
- Macquarie and Teachers Mutual have set dates for the rate rise, but the big four haven't yet (Wednesday 4 November)
- The RBA has lifted rates to 4.85%, the highest in 18 years, and three board members wanted to hold (Tuesday 3 November)
- Nearly 1 in 3 mortgage holders are now at risk of stress. What to do if your budget's getting tight (Friday 30 October)
- One rate rise, many start dates: when the 0.25% actually hits your home loan (Thursday 8 October)
- Big four banks pass on the full rate rise from 9 October (Thursday 1 October)
Is your repayment about to jump?
If your repayment's about to go up, we're happy to run your numbers and check your rate is still competitive. We'll start with general information, and if you'd like personal recommendations we'll do a proper fact-find first. There's no cost and no pressure.
Sources: 1. Savings.com.au, "RBA hikes again: Here's how the big four responded", Bernadette Lunas, updated 4 November 2026: cash rate 4.85%, 6–3 vote, fifth rise of 2026, highest since November 2008; NAB first of the big four to announce (savings.com.au). 2. CBA newsroom, "CBA interest rate decision", 4 November 2026: home loan variable rates up 0.25% p.a., effective 13 November 2026 (commbank.com.au). 3. Westpac, "Westpac announces interest rate changes", media release, 4 November 2026: home loan variable rates up 0.25% p.a. for new and existing customers effective 13 November; Westpac Life total rate 5.50% p.a. (westpac.com.au). 4. NAB customer notice, RBA announcement, November 2026: variable home loan rates up 0.25% p.a. effective Friday 13 November 2026 (nab.com.au). 5. ANZ, "ANZ announces changes to variable home loan and deposit rates", 4 November 2026: variable home loan rates up 0.25% p.a. effective 13 November 2026; ANZ Plus Growth Saver total rate 5.60% p.a. (anz.com.au). 6. ING, interest rate announcement, accessed 5 November 2026: variable home loan rates up 0.25% p.a. from 13 November 2026; P&I repayments change from 29 December 2026, interest-only from 1 December 2026 (ing.com.au). 7. Suncorp Bank, home loan rate changes, accessed 5 November 2026: variable home loans up 0.25% p.a. effective 13 November 2026; at least 20 days' notice by mail (suncorpbank.com.au). 8. Finder, November 2026 cash rate increase tracker, updated 4 November 2026, accessed 5 November 2026 (finder.com.au). 9. Compare the Market, "RBA interest rate rise November 2026: The banks passing on the 0.25% increase", last updated 4 November 2026: repayment estimates and lender tracker (comparethemarket.com.au). 10. Reserve Bank of Australia, Board meeting schedules 2026 (rba.gov.au).
General information only, not credit advice.
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