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Interest Rates
Gain a comprehensive understanding of how interest rates impact various financial products. Whether you're exploring home loans, business loans, car loans, or seeking information on term deposits or savings, see our current rates below.
Understanding interest rates
Interest rates represent the cost of borrowing money or the return on investment for lending money. Interest rates play an important role in the financial landscape, influencing various aspects of borrowing, saving, and investing.
Interest rates can vary based on economic factors, market conditions, and each individual’s credit rating. Understanding how interest rates work empowers you to make informed financial decisions about your borrowing and savings strategies.
Borrowing
When you borrow money, such as taking out a personal or home loan, you pay interest to the lender throughout the term of your loan to account for the risk the lender undertakes in lending you funds. Interest on your loan is calculated daily and then charged to you at the end of each month.
Depositing
When you deposit money into a savings account, you can earn interest on your account balance. Interest on your deposit account is calculated daily based on your account balance, and credited to your account monthly for savings account and at maturity for a fixed term deposit.
This is the power of compounding interest - even if you don’t deposit more funds, your total balance will continue to grow each month.
Home Loans interest rates
Our competitive home loan interest rates are designed to help you achieve your dream of homeownership. We offer a range of variable interest rate home loans, structured to suit different buying scenarios. Our home loan calculator can help you make informed decisions and understand your financial status.
| Loan | Interest Rate | Comparison Rate |
|---|---|---|
| Owner Occupied Housing Loan | 6.89% p.a. | 6.96% p.a.* |
| Standard Variable Housing Loan | 7.54% p.a. | 7.61% p.a.* |
| Investment Housing Loan | 7.69% p.a. | 7.76% p.a.* |
| Interest Only Housing Loans Owner Occupied | 7.54% p.a. | 7.61% p.a.* |
| Interest Only Housing Loans Investment | 7.69% p.a. | 7.76% p.a.* |
| Mortgage Offset | 8.20% p.a. | 8.27% p.a.* |
| Home Equity Advantage Overdraft | 8.05% p.a | - |
Please contact us if you require a home loan solution not listed above.
Car loan interest rates
Our competitive car loan variable interest rates allow you to borrow the funds to get the car you need. Car ownership is a necessity for many, so to work out what you can apply for, our car loan calculator can help you get started.
| Loan | Interest Rate | Comparison Rate |
|---|---|---|
| New car loan | 9.24% p.a. | 9.68% p.a.*** |
| Used car loan | From 10.75% p.a. | From 11.11% p.a.*** |
Personal loan interest rates
See our latest personal loan variable interest rates and explore whether a personal loan will meet your needs. Whether you’re looking at home improvements or consolidating debts, a personal loan may be a suitable financial solution. Use our personal loan calculator to help understand your financial status and repayment schedule.
| Loan | Interest Rate | Comparison Rate |
|---|---|---|
| Personal loan - from | 10.75% p.a. | 11.18% p.a.** |
| Credit Crusher loan | 9.75% p.a. | 10.11% p.a.** |
| Overdraft | 10.20% p.a. | - |
| Cash-secured loans - from | 7.19% p.a. | 7.61% p.a.** |
Business loan interest rates
Explore our business loan variable interest rates to support businesses and their financial objectives. Discover financing solutions that align with your business goals.
| Loan | Interest Rate | Comparison Rate |
|---|---|---|
| Business loan | POA |
Savings account interest rates
Our savings account interest rates help you maximise your savings potential. Whether you're saving for a rainy day or planning for the future, we offer fixed-term deposits and savings rates to help your money grow.
Savings Accounts
| Account Type | Balance | Interest Rate |
|---|---|---|
| Santa Saver Account | 1.60% p.a. | |
| eCall Account | $0 - $999.99 | 1.75% p.a. |
| $1,000 - $19,999.99 | 1.95% p.a. | |
| $20,000 - $49,999.99 | 2.25% p.a. | |
| $50,000 - $249,999.99 | 2.60% p.a. | |
| $250,000 - $499,999.99 | 2.80% p.a. | |
| $500,000 + | 0.00% p.a. | |
| Busy Bee Account | $0 - $9,999.99 | 2.75% p.a. |
| $10,000 - $19,999.99 | 1.00% p.a. | |
| $20,000 + | 0.50% p.a. | Super Youth Saver Account | $0 - $9,999.99 | 2.75% p.a. |
| $10,000 - $19,999.99 | 1.00% p.a. | |
| $20,000 + | 0.50% p.a. | Monthly Managed Account* | $1,000 - $49,999.99 | 1.40% p.a. |
| $50,000 - $249,999.99 | 1.65% p.a. | |
| $250,000 - $499,999.99 | 1.85% p.a. | |
| $500,000 + | 0.00% p.a. | |
Fixed Term Deposit Accounts
Transaction Accounts
| Account Type | Interest |
|---|---|
| Transaction Account (S1) | Nil |
| Transaction Account (S6) - Redicall Account* | 0.05% p.a. |
| Term | Minimum Balance | Interest Rate |
|---|---|---|
| 2 - 5 months | $5,000 + | 3.50% p.a. |
| 6 months | $5,000 + | 3.85% p.a. |
| 12 months | $5,000 + | 4.45% p.a. |
| 24 months | $5,000 + | 4.00% p.a. |
| 30 - 36 months | $5,000 + | 3.95% p.a. |
Overdrawn Accounts
| Condition | Interest Rate |
|---|---|
| Overdrafts are not normally permitted. However, occasional overdrafts will be charged. | 19.75% p.a. |
Explore financial options with BHCCU
At BHCCU, we offer savings and loan options as tools to help you manage your finances. Join BHCCU and experience the benefit of a customer-focused approach to banking. Join as a member today or contact our team for more information or any guidance on loan interest rates.
FAQs
What factors influence changes in interest rates?
Interest rates on a personal loan, car loan or home loan can be influenced by a variety of factors, including your repayment and credit history, our policies and the cash rate set by the Reserve Bank of Australia (RBA). Interest rates on savings accounts are similarly influenced by the RBA cash rate as well as our policies.
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The Broken Hill Community Credit Union Ltd ABN 12 087 650 762 Australian Credit Licence 238020. Credit eligibility criteria, terms and conditions, fees and charges apply. Full details are available on application.
*The comparison rate is based on a secured loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
**The comparison rate is calculated based on a secured loan of $30,000 over a loan term of 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
***The comparison rate is calculated based on a secured loan of $50,000 over a loan term of 7 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.