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Virgin Money responds to June RBA decision 2023

Virgin Money has today announced interest rate changes for home loan customers, following the Reserve Bank of Australia’s (RBA) decision to increase the cash rate by 0.25%.  

For home loan customers  
  • From 16 June, Virgin Money will lift variable home loan interest rates by 0.25% per annum (p.a.) for new and existing customers.  
Responding to savings customers
  • Virgin Money understands the ongoing challenges this environment has presented to household budgets. 
  • To help customers build up their savings, Virgin Money is lifting rates on its popular Boost Saver account from 16 June. By enabling the Lock Saver feature, customers can smash their savings goals even sooner. Support available for customers   

With the cash rate increasing again, there may be some customers concerned about their financial position or experiencing financial difficulty. These customers are encouraged to contact Virgin Money's dedicated Customer Assistance team as soon as possible so we can talk through options that are right for you. 

We have been contacting customers on fixed rates that expire in the next 12 months to ensure they are prepared.

Virgin Money also has a range of online resources available including a mortgage repayment calculator to help customers manage rate rises,

For existing home lending customers on a variable rate, Virgin Money will inform customers of their new repayment amount. For further assistance or support customers should reach out to our Virgin Money team on 13 81 51.  

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Legal notes:   

Interest rates expected from 16 June are subject to change. Terms, conditions, fees and charges apply. This is general information only and you should consider if these products are appropriate for you.