Following the Reserve Bank of Australia’s recent decision to increase the official cash rate by 0.25%, we have carefully reviewed our interest rates across lending and deposit products.
As a member‑owned organisation, GMCU must balance the needs of all our members - borrowers and depositors - while ensuring we remain financially strong, sustainable and able to continue supporting our community over the long term.
From Wednesday 5 March 2026, GMCU will increase interest rates by 0.25% p.a. on Variable rate home loans and overdrafts
What this means for borrowers
You may need to adjust any automatic transfers you’ve set up to ensure your new minimum repayment amount is met.
Your updated interest rate and minimum repayment will be available in Internet Banking and the GMCU App from Wednesday 5 March 2026.
All members impacted by this change will shortly receive written notification with details specific to their loan.
Changes to deposit interest rates
As part of our review, we will also be increasing interest rates on selected deposit products, recognising the loyalty for members who continue to save and invest with GMCU.
- Advantage Saver Account: From 1 March 2026, the total rate on our Advantage Saver Account will increase by 0.05% p.a., taking the total rate (base plus bonus) to 4.05% p.a.
- Term deposits: From 11 February 2026, interest rates will increase on 12 and 24 month term deposits (balances of $5,000 and over) - with a 12 month term paying 4.10% p.a. (with interest paid upon maturity)^
We’re here to help
If you have any questions about these changes or would like to discuss what they might mean for you, our team is here to help.
- Visit your local branch
- Speak with your local GMCU lender
- Call us on 1800 MY GMCU (1800 694 628)
Early withdrawals attract a reduced interest rate. 3-12 month terms: Interest paid at maturity. Interest may be added to principal amount to be reinvested or paid to an account. 24 month term: Interest paid annually. First interest amount paid to an account, second interest payment may be added to principal and reinvested or paid to an account. Minimum deposit $100. Rates for deposits greater than $2million are available on application. Fixed Interest. Calculated on Daily Balance. Refer to Conditions of Use for full details.
