Following the Reserve Bank of Australia’s decision to decrease the official cash rate on 20 May 2025 by 0.25%, Bank First has decreased the interest rates on our variable home loan and savings products.

Variable Home Loans

• Effective 29 May 2025, home loan variable interest rates decrease by 0.25% p.a.

• Your new interest rate will appear on 29 May through online and mobile banking.

Savings

• Effective 29 May 2025, the interest rates on a range of savings products decrease by 0.25% p.a.

• Effective 1 June 2025, the bonus interest rate on our Bonus Saver and First Home Bonus Saver account will decrease by 0.25% p.a.

What happens to my home loan repayments?

Bank First regularly review repayments to ensure your home loan can be repaid within the loan term. You may have noticed that repayment changes haven’t always occurred immediately after previous rate changes.

If your repayment is decreasing, we'll notify you via email from 3 June 2025 or if your preference is set to mail from 16 June 2025. The new repayment will take effect from 30 May 2025.

Did you know that keeping your repayment amount the same when interest rates decrease can help you pay off your home loan sooner?

If you have any questions about your home loan repayment, call (03) 9834 8597 between Monday to Friday 9am to 5pm or email us at customerrelations@bankfirst.com.au.