CBA hikes variable rates by 0.25, yet stays silent on savers
04 Feb 2026
Australia’s biggest bank, CBA, has announced it will pass on the RBA’s 0.25 percentage point cash rate hike in full to its variable borrowers, effective 13 February.
As a result of today’s decision, CBA’s lowest variable home loan rate will be 5.59%.
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| CBA’s lowest home loan rates, effective 13 February | ||
|---|---|---|
| Old rate from | New rate from | |
| Lowest variable rate | 5.34% | 5.59% |
Source: Canstar. Rates are for owner-occupiers paying principal and interest. LVR requirements apply.
The bank has not indicated what it will pass on to its millions of savings customers, saying its rates are ‘under review’, however, the bank typically updates its savings rates at the same time as its variable home loan rates.
At this stage, Westpac, NAB and ANZ have not responded to today’s rate hike decision, however, if history is anything to go by, the other three banks will also pass the hike on in full to variable borrowers.
What will this mean for CBA customers?
Canstar’s data insights director, Sally Tindall, says, “CBA is the first cab off the rank, matching the RBA’s cash rate hike of 0.25 percentage points for variable borrowers.”
“While news of a rate hike is difficult for borrowers across the country, CBA isn’t keeping its mortgage customers in the dark.
“It’s now just a matter of time before the other major banks follow, and it’s likely they’ll also hike rates by the full amount.
“Many of the banks’ customers will be disappointed by this hike, particularly those who are already struggling to balance their budgets.
“That said, many CBA home loan customers didn’t ask the bank to reduce their repayments after the rate cuts in 2025. So while they’ll be charged higher interest in just 10 days’ time, these borrowers are unlikely to see their current direct debits automatically rise.
“If you are paying the minimum, CBA will automatically increase this repayment and the associated direct debit, however, it will send you a letter outlining these changes and give at least 20 days’ notice before that money comes out of your account.
“What we don’t know is what CBA plans to do for its savers and that’s a worrying sign. It could signal the bank may not pass on this hike in full to each and every one of its savings rates.
“In a rate hike environment, banks typically pick and choose which savings rates get a boost and which miss out.
“Savers have been resilient in the face of three rate cuts last year, managing to stash away record piles of cash for a rainy day. Now, CBA should do the right thing and pass this hike on in full to these customers.”
This article was reviewed by our Consumer Editor Meagan Lawrence before it was updated, as part of our fact-checking process.
