Here are the changes the main banks have made to retail interest rates on Tuesday, June 2, 2026

Here are the changes the main banks have made to retail interest rates on Tuesday, June 2, 2026, so far.

For home loans:

Teachers Mutual Bank has raised its variable rates by +25 bps, their adjustment after the RBA cash rate target increase of May 6, 2026. None of their fixed rates were changed.

Qudos Bank has closed a number of its variable home loan products to new borrowers. But that leaves their two lowest cost offers still current.

For term deposits:

No changes to report today from any of the banks we follow.

For savings accounts:

AMP Bank has added +25 bps to its Saver account.

Heritage Bank as also upped both its Online Saver account by +25 bps as well, both for its standard account and its 'welcome' account. It has also raised its Target Bonus account by +25 bps. In all cases the increase is to the 'bonus' portion, not the base.

And Teachers Mutual has also upped its suite of five savings accounts by +25 bps, the matching RBA increase.