Standard Rate of Interest Update — Keystart
Updates interest rate setting policy based on Reserve Bank of Australia's official cash rate.
Details
Notice Text
Notice is hereby given, in accordance with section 40 of the country housing act 1998 that keystart has updated its interest rate setting policy to base its rate on the movements of the reserve bank of australia's official cash rate. As a result, based on the recent movement of the reserve bank cash rate, the standard rate of interest to apply for assistance provided under this act is now 6.82% pa for existing loans approved prior to and including 20 december 2009 and 7.60% pa for loans approved after 20 december 2009. This is a decrease in keystart's variable interest rate. The decrease is effective from the 1 july 2023 with changes to repayments commencing on or after 1 august 2023. More information available at keystart.com.au.
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