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2023 Interest Rate Update

As has been widely reported, the Reserve Bank of Australia increased the official cash rate by 25bps at its June meeting.

The updated interest rates for AIDF Lending and Investment rates are available here.

Please note the new rates for:

  1. Loans will apply from the 1 July 2023; and
  2. Investments will apply from the 26 June 2023.

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.

Trevor Ament

Chief Executive Officer

June 2023


Non-Housing Loans
In response to the RBA cash rate increase, the AIDF is seeking to adjust Non-Housing Loan interest rates as of 1st July 2023 as follows:
– Standard Diocesan Rate which applies to Parishes, Diocesan Schools, the ACPT, and other Diocesan entities.
Increased by 0.25% from 7.25% to 7.50%
– Master Asset Facility (MAFF)
Increased by 0.25% from 5.00% to 5.25%
– Overdraft Rate
Increased by 0.25% from 8.00% to 8.25%
– Personal Late Rate
Remains at 9.75%

Term Investments

Term Investments3 Months6 Months9 Months12 Months18 Months24 Months36 Months
Current (as at 17/05/23)4.00%4.15%4.35%4.60%4.60%4.50%4.00%
Rates (as of 26/06/23)4.25%4.40%4.60%4.85%4.85%4.50%4.00%

Saving and Investment Accounts

Cash Management Account – Educational EntitiesCash Management Account – (Other Diocesan Entities ie. Parishes & Agencies)Community Saver AccountAccess Account (Transactional)Cheque Account
(as at 17/05/23)
4.00%3.75%4.25% +0.50% donationUp to $50k: 0.30%
Over $50k: 0.35%
Up to $100k: 0.15%
Over $100k: 0.20%
Rates (as of 26/06/23)4.25%4.00%4.50% +0.50% donationunchangedunchanged

Home Loans

Variable – Existing as at 01/06/20235.25%
Fixed Rate1 Year
2 Year
3 Year
Rates as of 01/07/2023
Fixed Rate1 Year
2 Year
3 Year
Interest Rate Update – June 2023
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