The Reserve Bank lifted the cash rate once, by 0.25, on Tuesday 29 September, taking it to 4.60%. But your home loan doesn’t change on the RBA’s date. It changes on your lender’s date, and this time those dates are spread across a fortnight, from Thursday 2 October to Friday 16 October. Today and tomorrow are the two busiest days, with a long list of mutual banks moving today and the big four tomorrow. Here’s the full timeline, why the dates differ and what to check.
The short version
- On the two lender trackers we checked, every lender that has announced is lifting its variable home loan rates by 0.25%, the same as the RBA.
- The start dates run from 2 October (AMP for new customers, BOQ Classic) to 16 October (Bank First).
- Today, Thursday 8 October, is the start date for several mutuals and smaller banks, including Credit Union SA. Tomorrow, Friday 9 October, the big four, BankSA, St George, Bank of Melbourne, Bankwest, ING and Suncorp all move. Macquarie follows on Thursday 15 October.
- The day your rate changes usually isn’t the day your repayment goes up. Your lender’s notice will tell you both.
- Canstar estimates this rise adds about $91 a month on a $600,000 loan.
When the rise starts, by lender
This is the timeline as at Thursday 8 October, based on Savings.com.au’s lender tracker (updated 5 October), Aussie’s rate tracker (updated 6 October) and the lenders’ own announcements. Both trackers show each of these lenders lifting variable home loan rates by 0.25%. Lenders can change their plans, so your own lender’s notice is the one that counts. It updates the table in our 1 October article on the big four, when several lenders hadn’t announced yet.
| Effective from | Lenders |
|---|---|
| Thu 2 Oct | AMP (new customers), BOQ Classic, Virgin Money (Reward Me) |
| Fri 3 Oct | myBOQ, ME Bank, Virgin Money (Lite and Loaded) |
| Mon 5 Oct | AMP (existing customers) |
| Wed 7 Oct | Bendigo Bank, Great Southern Bank, Firstmac |
| Thu 8 Oct (today) | Teachers Mutual Bank, Australian Mutual Bank, UniBank, Credit Union SA, MyState Bank, Auswide Bank, Ubank (Neat and Flex standard variable) |
| Fri 9 Oct | Commonwealth Bank, NAB, Westpac, ANZ, St George, BankSA, Bank of Melbourne, Bankwest, ING, Suncorp Bank, Newcastle Permanent, IMB Bank, Greater Bank, Resimac, Tiimely, Pepper Money (existing customers) |
| Mon 12 Oct | HSBC |
| Tue 13 Oct | BankVic, BCU Bank, Beyond Bank, RACQ Bank (excluding its Green Home Loan), P&N Bank, People First Bank (existing customers), Heritage Bank (existing customers) |
| Wed 14 Oct | The Mutual Bank |
| Thu 15 Oct | Macquarie, Bank Australia, QBank, Qudos Bank, Bank of Sydney (existing customers), Bank of us (existing customers), Australian Military Bank (existing customers) |
| Fri 16 Oct | Bank First |
A handful of smaller lenders hadn’t announced their plans at the time of writing. If yours isn’t listed, keep an eye on your inbox and internet banking over the next week or so.
Why the dates are all different
The RBA sets the cash rate, but it doesn’t set your home loan rate. Each lender decides how much of a move to pass on and when, and that includes how much notice it gives customers and when its systems roll the change over. Smaller lenders often move first or last; the big banks tend to bunch together. This time almost everyone passed on the same 0.25, so the main difference between lenders is timing, not size.
Canstar’s Josh Sale put it this way in Australian Broker on 7 October: “Variable borrowers should treat the next few weeks as a moving target.”
Your rate date isn’t your repayment date
The effective date is when interest starts being charged at the new rate. Your minimum repayment often catches up a little later. Commonwealth Bank is a good example:
- Friday 9 October: the new variable rate applies.
- Saturday 10 October: existing customers can see the new rate in the CommBank app and NetBank.
- From Sunday 11 October: principal and interest customers whose repayments are changing see a message in their transaction listing with the new amount.
CBA says that if your direct debit doesn’t cover the new minimum, it will lift it automatically. AMP, whose rise has already started, says it will email customers about their new repayment by 12 October, or post a letter from 12 October. Other lenders work differently, so read the notice from yours rather than assuming.
What it costs
Canstar estimates this latest rise adds about $91 a month to the repayments on a $600,000 loan. Once it’s passed on in full, that same borrower will be paying about $364 a month more than before the first of this year’s four rises. Canstar also notes that 4.60% is the highest cash rate since late 2011. Your own figure will depend on your balance, rate and remaining term.
Fixed-rate borrowers aren’t affected until their fixed term ends. Fixed rates for new loans are rising too, though: Canstar counted 289 fixed rates lifted by 17 lenders, by an average of 0.24 points, in the week after the RBA’s decision. Our fixed-rates article explains why.
On what comes next, the big four are split. CBA and NAB expect 4.60% to be the peak, while Westpac and ANZ are forecasting one more rise in November. Those are forecasts, not certainties. The September inflation figures are due on 28 October, and the RBA’s next decision is on Tuesday 3 November.
What to check this week
- Find your date. Check the table above, then confirm it against your lender’s notice or website.
- Read the notice. Look for the new rate, the new repayment amount and the date your first higher repayment comes out.
- Check the account your repayment comes from. If it’s an account you also spend from, make sure the higher amount will be there.
- Check any repayment you set yourself. If you pay a fixed amount by transfer, make sure it’s still at least the new minimum.
- Compare your rate. Everyone went up by the same amount, but they started from different places. If your lender moved early, it’s still worth seeing where your rate sits.
- Re-check a pre-approval. If you’re buying, ask whether your borrowing amount has changed at the new rates.
- Call early if it’s tight. If the new repayment won’t fit, talk to your lender before you miss a payment. They have hardship processes.
Not sure what your lender’s letter means?
Send it through or book a chat and we’ll go through it with you. We’ll start with general information, and if you want personal recommendations we’ll do a proper fact-find first. There’s no cost and no pressure.
Sources: Reserve Bank of Australia, “Statement by the Monetary Policy Board: Monetary Policy Decision”, media release 2026-27, 29 September 2026. Savings.com.au, “RBA rate hike September 2026: Is your lender passing it on?”, updated 5 October 2026. Aussie, “Interest rate tracker”, updated 6 October 2026. Commonwealth Bank, “Home loan rates announcement”, 30 September 2026. ING Australia, “ING updates savings and home loan interest rates”, 30 September 2026. Macquarie Bank, “Macquarie Bank’s response to the RBA’s interest rate decision”, 29 September 2026. Bendigo Bank, interest rate changes announcement, 1 October 2026. Suncorp Bank, home loan rate changes page (September 2026 rate announcement). AMP, “Variable rate changes”. Australian Broker, Mina Martin, “Lenders lift 289 fixed rates after Reserve Bank hike, Canstar finds”, 7 October 2026 (Canstar figures and forecasts).
General information only, not credit advice. It doesn’t take your objectives, financial situation or needs into account.
Loanworth Pty Ltd (Credit Representative Number 547934) is a Credit Representative of Connective Credit Services Pty Ltd (Australian Credit Licence 389328).