Interest rates have continued to increase with the most recent RBA increase occurring in early August.
Borrowers:
All base rate loans will increase by 1.0% effective from 1/9/22. Borrowers with principal and interest repayments will be advised of the new monthly repayment amount in early September.
It’s worth noting that the RBA have increased rates 1.75% in the current cycle. CCFS has increased 0.5% with another 1.0% from 1/9, a total of 1.5%. We have tried to keep rates down and delay increases as much as possible. It’s possible the RBA will increase rates further in early Sep and CCFS will continue to monitor.
Offset Accounts:
One practical way borrowers can keep interest costs down is through the use of offset accounts. Further information can be found here or by downloading our brochure in the resources page.
Investors:
It’s better news for investors. Higher investment rates also take effect from 1/9/22. Please check out our investment rates by clicking the link
Please feel free to contact Stuart Campbell, Pieter Brink (in WA) or our customer service team on 1300 692 237 if you have any questions.
CCFS is aware of the impact rising interest rates can on borrowers and we continue to keep increases as low as possible.
