2022 Interest Rate Update
As has been widely reported, the Reserve Bank of Australia raised the official interest rate by a further 50 basis points at its June meeting. This is the second increase since November 2010 and as noted in our correspondence to you in May, it represents the start of the retirement of emergency monetary settings that were designed to support the economy through the COVID pandemic.
The updated interest rates for AIDF Lending and Investment rates are available here. Please note the new rates for:
- Loans will apply from the 1 July 2022; and
- Investments will apply immediately.
The AIDF rates remain commercially attractive compared to those offered within the broader banking sector. In addition, no account keeping or transaction fees apply to our savings and investments products. The AIDF Board continues to monitor RBA and market movements closely.
Please do not hesitate to contact Adam, Leila or Sarah at the AIDF directly if you have any questions about these interest rate adjustments.
Chief Executive Officer