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NAB, CBA, ANZ, Westpac: More banks pass on rate hike to Aussie borrowers - but when will it hit?

It is not likely to just be the Big Four banks increasing interest rates as the cash rate jumps a 13th time.

Australia's biggest lenders have started passing on interest rate hikes to borrowers after the Reserve Bank of Australia (RBA) again hiked the cash rate.

National Australia Bank (NAB) was the first to make the call after an eerie extended silence yesterday (usually interest hikes are announced within hours of the RBA call), and it hasn't taken long for Westpac and ANZ to follow.

Of the big four banks, which all correctly predicted a 0.25 per cent hike, the Commonwealth Bank of Australia (CBA) was the last to pass on the rate hike.

It appears there's no reprieve for Australians already fighting rising energy costs, grocery bills and housing affordability - as they are going to cop the interest rate hikes in full. But this could be a positive for savers.

Scroll down to see when the changes are coming into effect, and potentially which bank could have a better deal.

CBA, Westpac, NAB and ANZ. Australia's Big Four Banks.
NAB is the first of the Big Four banks to pass on the RBA's rate hike. (Source: AAP)

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NAB changes

NAB's standard variable home loan interest rate will increase by 0.25 per cent, from November 17.

NAB's Reward Saver bonus interest rate will increase by 0.25 per cent as well, bringing the total rate to 5.00 per cent from November 17.

ANZ changes

ANZ's standard variable home loan rate will increate by 0.25 per cent, from November 17.

ANZ Plus Save account by 0.25 per cent, bringing rates for those with balances less than $250,000 to increase to 4.90 per cent, and balances $250,000 or more to increase to 3.75 per cent from November 16.

Last week it became the latest - and probably highest-profile - lender to hike fixed mortgage rates, reversing a move to cut its 1- and 3-year fixed rates by up to 30 basis points six weeks ago.

Rates went up by more than one rate move - 25 basis points - but not by much more at a maximum of 35 basis points.

Key clue to broader outlook: ANZ did this on all of its 1- to 5-year terms, indicating that the institution believes rates will now stay higher for longer.

Westpac changes

Westpac's standard variable home loan interest rate will increase by 0.25 per cent to 5 per cent from November 21.

Savers are also getting the bump.

Westpac Life total variable rate with bonus interest will increase by 0.25 per cent to 5 per cent from November 17.

Westpac eSaver total variable rate for the first 5 months will increase by 0.25 per cent to 5 per cent for new customers applying online from November 17.

CBA changes

CBA's variable home loan interest rates will increase by 0.25 per cent from November 17.

Savings changes will also kick in on the same date. The NetBank Saver introductory rate will increase by 0.35 per cent to 5.10 per cent.

The GoalSaver with bonus interest will increase by 0.25 per cent to 4.90 per cent.

The Youthsaver with bonus interest will increase by 0.25 per cent to 5.00 per cent.

ME Bank, BOQ and Virgin Money have also announced full rate increases for variable mortgage customers.

Adelaide Bank, part of the ASX-listed Bendigo and Adelaide Bank, will increase fixed-rate loans for owner-occupiers by 0.1 per cent per annum for one-year products, 0.25 per cent for two-year, 0.45 per cent for three-year and 0.55 per cent for four-year and five-year offerings from November 10.

Fixed-rate movement

There was already some movement with fixed-rate home loans prior to the RBA's November decision.

Here are the fixed rate moves from October, according to Mozo:

ING: Increased its fixed-term mortgage interest rates by 20 to 40 basis points, again on every term up to five years. ING has increased its five-year term by the highest 40 basis points (ANZ was 25 basis points).

Macquarie Bank: fixed rates are up 30 to 56 basis points

AMP: Increased fixed rates for most borrowers with 1-year up 10 basis points, 2-year up 15 to 25 basis points, and 3- and 5-year rates up 15 to 40 basis points

Bendigo Bank: Increased fixed rates by 5 to 40 basis points

Great Southern Bank: Fixed rates are up 10 to 25 basis points

HSBC: Increased fixed rates by 15 to 60 basis points, with longer terms getting larger increases

Greater Bank: 2 to 5 year rates are down 15 or 20 basis points

If you're feeling overwhelmed and need help dealing with financial stress, you can contact free advice and counselling from the National Debt Helpline. You can call 1800 007 007 between 9.30am and 4.30pm Monday to Friday.

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