Following the Reserve Bank of Australia’s recent decision to increase the official cash rate, we have reviewed our interest rates across lending and deposit products.
From Tuesday 10 November 2026, GMCU will increase interest rates by 0.25% p.a. on our Variable Rate Home Loans.
What this means for borrowers
- When the rate changes: Your interest rate will change from Tuesday 10 November.
- When repayments change: Your new minimum repayment amount will apply from the effective date outlined in the notification we send you.
- What you need to do: If you make automatic payments to your loan, check your payment amount and increase it if necessary to ensure it covers your new minimum repayment.
- Where to find your details: Your updated interest rate, minimum repayment amount and repayment due date will be available in Internet Banking and the GMCU App.
All members impacted by this change will receive written notification with the new interest rate, minimum repayment amount and effective date specific to their loan.
Changes to deposit interest rates
We’re also increasing rates across selected deposit products, providing additional value for members who save and invest with GMCU.
From 10 November 2026, our term deposit rates will include:
- 5.50% p.a. for 6 months
- 5.30% p.a. for 12 months
- 4.95% p.a. for 24 months
From 1 December 2026, the total rate on our Advantage Saver Account will increase by 0.25% p.a. to 5.05% p.a., including base and bonus interest.
Balancing the needs of all our members
As a member-owned organisation, we balance the needs of both borrowers and depositors when making decisions about interest rates.
While higher lending rates will increase repayments for some members, we’re also passing on value to members who save and invest with us through higher rates on selected deposit products.
We’re here to support our members
We know higher interest rates can put added pressure on household budgets. If you’re worried about your repayments or experiencing financial difficulty, please talk to us early. We’ll take the time to understand your circumstances and discuss the support that may be available.
You can also learn more on our Financial Hardship page.
Contact us
If you have any questions about these interest rate changes or how they affect you, please:
- visit your local branch
- speak with your local GMCU lender
- call us on 1800 MY GMCU (1800 694 628)
Important Information
Term Deposit rates are effective from 10 November 2026 and are subject to change. Early withdrawals attract a reduced interest rate. Minimum deposit $5,000. Rates for deposits greater than $2 million are available on application. Fixed interest. Calculated on daily balance. Refer to Conditions of Use for full details.
