Interest Rate Rises

Interest rate rises affect your home loan repayments. We are here to help by offering updates, tools, and services to navigate the rising interest rate market.

If you are finding it difficult to meet the repayments on your loan, contact us and let us know as quickly as you can. You shouldn’t be embarrassed or intimidated to talk to us - we understand, and we’re here for you.

RBA Cash Rate Change November 2023

Following the Reserve Bank of Australia’s decision to increase the cash rate from 4.10% to 4.35% on 7 November 2023, we have made the decision to increase our variable home loan and commercial variable rates, effective Tuesday 21 November 2023.

If you are an existing home loan borrower with Gateway and are impacted by this change, you will receive notification of the change of interest rate and your loan repayments.

Please review our FAQs below and if you’d like to discuss your situation with one of our team, please contact us on 1300 302 474 (8am – 6pm, Monday to Friday, Sydney time).


Frequently Asked Questions:

Recent changes by the Reserve Bank of Australia to the official cash rate has increased the cost of funds to Gateway, which we require to fund our loans to members. After consideration of the impact to members and to the financial sustainability of the Bank, we have made the decision to increase our variable rate loans.

While there is speculation that the RBA will make further changes to the cash rate in the coming months, we will continue to review a range of factors to support any future decisions on our pricing. These include the RBA cash rate, our cost of funds (both retail and wholesale), our competitive position in the market and the impact on our members.

Your loan repayments may increase. Please refer to your notification which details the changes to your loan.

If you feel concerned about meeting your increased repayments, please contact our member services team on 1300 302 474 (Monday - Friday, 8am - 6pm AEDT) or contact us.

If you are unsure if you have established ‘Agreed Loan Repayments’ that will change automatically, please check your loan account statement. If your repayments are called ‘Schedule Pmt – Transfer’ these will change automatically.

If your repayments have any other narration you will need to update the payment to the new minimum repayment amount.

We will continue to monitor our savings and deposit products to ensure we are both competitive in the market and providing value to our members.

In recent months we have made a number of increases on our term deposit products with increases of over 3.50% and continued to increase our interest rates on savings products to support deposit holders with Gateway. We will communicate any future changes on our deposit products in due course.

Check out some of our tools and tips:

View our articles on budgeting and inflation: 


We also have a range of calculators to help you understand how much your repayments might be, and to help with budget planning: