Following the Reserve Bank of Australia’s (RBA) decision on Tuesday, 3 February 2026 to lift the official cash rate by 0.25%, Heartland Bank Australia is taking a different approach to support the financial wellbeing of older Australians.

The bank announced it will not increase interest rates for its existing reverse mortgage customers. In addition, as of Tuesday, 10 February 2026, Heartland Bank Australia will reduce its interest rate to 8.88% p.a. (8.91% p.a. comparison rate).

“Our decision to lower rates for new customers and hold rates for existing ones is driven by our focus on helping Australians age in place with dignity,” said Heartland Bank Australia Chief Commercial Officer Medina Cicak.

“We understand that financial security is paramount for retirees, and we are proud to offer a specialist solution that provides flexibility during a period of economic fluctuation.”

Heartland Bank Australia provides specialist banking products which include reverse mortgages, livestock finance and deposits. As the market leader in reverse mortgages, the bank holds over 40% market share in Australia.

“Heartland Bank is here to empower Australians over 55 without the immediate burden of increased borrowing costs,” she said.

“Lowering the cost of borrowing directly supports our mission to help our customers age in place with financial peace of mind and greater control over their future.”

While Heartland Bank Australia typically reviews its interest rates regularly, the decision was made to provide immediate opportunity and long-term security for older Australians navigating the current inflationary environment.

“At Heartland Bank, we recognise that our reverse mortgage customers have worked hard to build equity in their homes. By not passing through a rate increase and reducing our standards, we are reaffirming our commitment to helping older Australians live a more comfortable retirement,” she said.