RBA Rate Rises

The Reserve Bank of Australia (RBA) has increased Australia’s official cash rate again on 1 November 2022 to 2.85%, an increase of 0.25% (25 basis points).

First Option Bank will now review the interest rates for all our loan, deposit and savings accounts over the next few weeks. Any changes will be updated in our interest rates schedules published on the First Option website under Rates & Fees.

Read the full statement by the Governor of the Reserve Bank on the official RBA website here.