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Following the Reserve Bank’s recent decision to further increase Australia’s cash rate by 0.25%, People’s Choice will be lifting its variable mortgage rates.

All People’s Choice existing variable rate home loans will increase by 0.25% p.a., as will variable business loans. The changes will be effective from 16 May 2023.

Rates on all savings accounts and term deposits are still being considered, with a decision expected shortly.

For any member feeling financial pressure, we have a range of support materials available through our financial wellbeing hub , the home loan FAQs page on our website and via our extensive network of lending specialists.

FAQs

More home loan FAQs

  • How will I be notified if my interest rate is changing?

    • If you make Principal and Interest repayments, you’ll receive a letter from us with your new rate and repayment information, providing you with at least 20 days' notice for you to make any changes.
    • If you make Interest Only repayments, you’ll receive a letter from us with your new rate.
    • If you have a Line of Credit account, you’ll receive a notification of the rate change on your next statement.

  • Can I switch to a fixed interest rate?

    If you want to speak to us about fixing your home loan interest rate, email us on fixmyhomeloan@peopleschoice.com.au with your name, member number and contact phone number and we endeavour to be in touch within 48 hours to talk through your options.

Help and support

If you need any support managing your home loan, we’re here to help.

If you're ahead with your loan repayments, you might be able to redraw against your loan. For terms and conditions that apply to redraws, please see our lending terms and conditions (PDF, 249 KB).

Members experiencing financial difficulty at any time can find information about the support we provide on our Financial Hardship Assistance page.

Please visit our Managing debt and financial hardship section for tips on  budgeting, planning and debt consolidation.

Guides and tips

Tools and calculators

Need some help? We've got you covered. 

Get in touch with us and we can help you get the answers you need.