Resi Essentials – Interest Rate Update, May 2023

09th May, 2023 | Essentials Product

In line with the Reserve Bank of Australia’s (RBA) decision to increase the official cash rate by 0.25% we are updating our interest rates effective Tuesday 9th May 2023.

Our home loan variable interest rates will increase in line with RBA’s decision for new and existing lending by 0.25% per annum (p.a.). This change will be applied uniformly to all variable-rate home and investment loans.


For applications currently in the pipeline (pre-formal approval), Resi Essential Options interest rates will increase by 0.25% p.a effective 9th May 2023.

For applications that have been formally approved and have had solicitors instructed, Resi Essential Options interest rates will increase by 0.25% effective as at time of settlement.


For existing customers, including customers that have been formally approved and are pending settlement, Resi Essential Options interest rate will increase by 0.25% p.a effective 16th May 2023.

Increases to the required contractual repayments for impacted loans will occur on the next payment due on or after 5th June 2023.

Customers with an existing variable rate home loan will receive a letter advising them of changes to their interest rate and repayments.

New Interest rates will be released on the 9th of May 2023 and be made available through the Resi Website.

Don’t forget the benefits of choosing Resi Essentials

·       Monthly LMI – borrow up to 95% LVR without having to fund an upfront LMI premium

·       40-year loan term

·       Direct access to credit managers, with optimal turnaround times for quality applications

·       No credit scoring

·       Fully assessed pre-approvals

·       No ongoing loan fees & free redraw

For further information, please visit, email [email protected] or contact your relevant Business Development Manager.

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