Here are the changes the main banks have made to retail interest rates on Wednesday, July 1, 2026

Here are the changes the main banks have made to retail interest rates on Wednesday, July 1, 2026, so far.

For home loans:

Bendigo Bank has cut its Express variable rate by -15 bps to 5.89%, but has not changed any other of their home loan rates.

AMP Bank has made some solid changes to some fixed rates in some LVR levels. For their Professional Package loans, basically P&I fixed rates for LVRs of. 90% an less are down. Rates for LVRs of 95% and above have been raised. For interest-only fixed rates, these rates reductions only apply to 80% or lower LVR. For their Essential Home Loans, thier are reductions for <95% LVR lending.

Suncorp announced that its Flexirates loan product will be withdrawn from sales  from August 22, 2026.

For savings accounts:

AMP has closed its Super Saver, and standard Term Deposit accounts to new clients. That leaves it with their GO Save and GO Term Deposit options, which were better anyway.

For term deposits:

Great Southern Bank has reduced its 1 year TD rate by -20 bps and its 5 year TD rate by -25 bps. That takes its standard one year rate to 5.25% and its one year Platinum Plus rate to 5.35%.

Bank Australia has taken -5 bps from its one year rate to 5.40%. Cousin Qudos hasn't changed its rate for that term yet, but likely will.