On Tuesday 5 May 2026, the Reserve Bank of Australia announced it would be lifting the cash rate by 0.25% to 4.35%.
Compare the Market found that borrowers with an average loan of $736,000 paid around $114 more a month for each 0.25% rate hike confirmed since February.
Impact of a potential rate rise on Australian mortgage repayments
| Loan size | Monthly impact of a 0.25% rate increase | Monthly impact of x2 0.25% rate increases (0.50%) | Monthly impact of x3 0.25% rate increases (0.75%) | Monthly impact of x4 0.25% rate increases (1%) |
| $500,000 | $79 | $158 | $239 | $320 |
| $600,000 | $94 | $190 | $287 | $384 |
| $750,000 | $118 | $237 | $358 | $480 |
| $900,000 | $142 | $285 | $430 | $577 |
| $1,000,000 | $157 | $317 | $478 | $641 |
| *Calculations assume an owner-occupied loan with a variable interest rate of 5.42% that is increased by 0.25% a month. It assumes a 30-year loan term, with no ongoing fees. This does not take into account the reduction of the loan balance over time. | ||||
Compare the Market is tracking interest rate movements from some of Australia’s biggest banks and lenders. How are the banks moving? Watch this space to find out.
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Big four bank moves
ANZ
Rate move: 0.25%
Customers impacted: Variable interest rates for home, residential investment and line of credit loan customers
Effective from: 15 May 2026
Commonwealth Bank
Rate move: 0.25%
Customers impacted: Variable home loan customers
Effective from: 15 May 2026
NAB
Rate move: 0.25%
Customers impacted: Variable rate home loan customers
Effective from: 15 May 2026
Westpac
Rate move: 0.25%
Customers impacted: Variable home loan interest rate customers
Effective from: 15 May 2026
Other lender moves
AFG
Rate move: 0.25%
Customers impacted: Retro and Link will increase all standard variable rates
Effective from: 14 May 2026
AMP
Rate move: 0.25%
Customers impacted: variable lending rate customers
Effective from: 8 May 2026
Auswide Bank
Rate move: 0.25%
Customers impacted: New and existing variable rate home loans, residential investment loans, lines of credit and overdrafts customers
Effective from: 14 May 2026
Bank of Melbourne
Rate move: 0.25%
Customers impacted: Variable home loan interest rate customers
Effective from: 15 May 2026
Bank SA
Rate move: 0.25%
Customers impacted: Variable home loan interest rate customers
Effective from: 15 May 2026
Bankwest
Rate move: 0.25%
Customers impacted: Variable home loan customers
Effective from: 15 May 2026
Bendigo Bank
Rate move: 0.25%
Customers impacted: variable home loan interest rate customers
Effective from: 13 May 2026
HSBC
Rate move: 0.25%
Customers impacted: new and existing variable loan customers
Effective from: 18 May 2026
ING
Rate move: 0.25%
Customers impacted: Variable rate customers
Effective from: 15 May 2026
Macquarie
Rate move: 0.25%
Customers impacted: variable home loan reference rate and variable everyday bank account interest rate customers
Effective from: 22 May 2026
ME
Rate move: 0.25%
Customers impacted: variable home loan interest rate customers
Effective from: 16 May 2026
Pepper Money
Rate move: 0.25%
Customers impacted: Variable interest rate for existing residential, commercial, construction, and SMSF loan customers
Effective from: 15 May 2026
St. George
Rate move: 0.25%
Customers impacted: Variable home loan interest rate customers
Effective from: 15 May 2026
Suncorp
Rate move: 0.25%
Customers impacted: home loan variable rate customers
Effective from: 15 May 2026
Ubank
Rate move: 0.25%
Customers impacted: Neat and Flex standard variable home loan rate customers
Effective from: 14 May 2026
All banks and lenders may not be included in this list. We’ve included the lenders on our panel.
The information on this page is general only – check with your lender for further details on their interest changes and how you might be affected.
This page was last updated 6 May 2026.
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