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

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

For home loans:

Commbank has cut its fees for home loans with no packages. For its Simple home loan product, the fee cut is from $20/mth to $10/mth. For its Digital home loan, it has removed the previous $10/month fee. But for all home loan products that involve 'packaged benefits', there is not change.

Following Tuesday's RBA rate hike, most major banks (but not all) have indicated they will pass on the hike in full for their variable rates. Westpac will make the change on Friday, October 9 and they follow Commbank who will do so on the same day. NAB and ANZ are doing it the same day. Macquarie will wait another week and do their on October 15. Meanwhile, Bank of Queensland says it will push through its variable rate increases tomorrow, October 2, 2026.

For savings accounts:

None to report today, but many key savings accounts will lift with the variable mortgage rate changes, although not all of them will pass on the full +25 bps.

For term deposits:

AMP Ban raise its six month TD rate by +10 bps to 5.15% and its 1 year rate by the same amount to a high 5.40%. At the same time they withdrew all other TD rate terms. These are the only two they now have.