Here are the changes the main banks have made to retail interest rates on Thursday, June 4, 2026

Here are the changes the main banks have made to retail interest rates on Thursday, June 4, 2026, so far.

For home loans:

Westpac has added +5 bps to most of its fixed home loan rates today for fixed terms 1 to 3 years.

But far more interestingly, Macquarie has opened a new front in its market share war against allcomers. It has done this by cutting its owner-occupier P&I fixed rates for both its Basic and Offset options. These cuts range between -35 bps and -50 bps. And that makes its fixed home loan rates among the lowest in the market, below their main rivals, and matching the low rates of some of its smaller rivals.

For savings accounts:

Bank of Queensland has raised all its savings account rates today, one of the last to do so to pass through the +25 bps RBA rate hike into these accounts.

For term deposit accounts:

No changes to report here today.