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G&C Interest Rate Changes – November 2022

On Tuesday 1 November 2022, the Reserve Bank of Australia (RBA) announced a further 25-basis point increase to the official cash rate. Following this decision to increase Australia's cash rate we have made the decision to raise interest rates for both borrowers and depositors.

Scam alert: SMS and phone impersonation

We are aware of reports that scammers are targeting the customers of a number of Australian financial institutions, posing as staff via SMS and phone calls to try and gain access to internet banking facilities. We remind our members that G&C Mutual Bank will never ask you to disclose your PIN or SMS One Time Password (SMS OTP) in an unsolicited email, SMS or phone call.

Mozo Experts Choice 2022 Award: Low Rate Credit Card

G&C Mutual Bank’s Low Rate Visa Credit Card has again been recognised by the experts, achieving a Mozo Experts Choice 2022 Award for Low Rate Credit Card.

*Special Offer Details: Offer may be amended or withdrawn at any time.

Footnotes:

  • 1 These rates apply to retail deposits only. These rates are only offered if the member nominates for interest to be paid on maturity or when the term exceeds one year where interest must be paid annually. Monthly, quarterly and six monthly interest is available with a reduction on the current rate. Where funds are withdrawn from a term deposit account prior to maturity, a reduced rate of 0.40% interest applies. For terms outside of the advertised rates, call 1300 364 400 or visit your local Service Centre for more details.
  • 2 Eligibility criteria, terms & conditions and fees & charges apply. 3 year Fixed Rate Principal & Interest Owner Occupied Home Loan. Offset account not available on this product.
  • 3 Comparison rate based on $150,000 loan over 25 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.