Here are the changes the main banks have made to retail interest rates on Wednesday, October 7, 2026

Here are the changes the main banks have made to retail interest rates on Wednesday, October 7, 2026, so far.

For home loans:

HSBC has not held back passing on increases for their fixed rates, upping them by +40 bps for both their Packaged and non-Packaged fixed rates. They will feel less restrained by competition given they have signaled they are pulling out of retail banking services and offloading their loan book to Blackstone.

Great Southern Bank had signaled it would change its variable rates today, but so far none have been officially notified. Probably safe to assume +25 bps is imminent anyway.. Update: They now have. In addition they have raised all their fixed rates by +25 bps too.

For savings accounts:

AMP Bank has raised its Bank Go Save account by +25 bps.

For term deposits:

Great Southern Bank has raised its 3 month rate by +20 bps to 5.10%, its seven month rate by +25 bps to 5.25%, its one year rate by +25 bps to 5.35%, and its two year TD rate by +20 bps to 5.35%. It has also raised its 1 year Platinum rate by +25 bps to 5.45%, and its 2 year Platinum rate by +20 bps, also to 5.45%