DHOS benchmark interest rate
The interest rate that applies to the DHOS home loan is called the 'Benchmark Interest Rate'.
DVA calculates the benchmark rate for DHOS home loans monthly.
Using data provided by the Reserve Bank of Australia (RBA) at the end of the month, DVA averages the variable rates of the five largest lenders, and then compares that average against the NAB variable rate.
The benchmark rate for DHOS will be the lower of the two.
If the benchmark rate changes, so too will the amount of subsidy you receive.
Timing of rate change
The RBA provides DVA with information about lenders' variable rates, on the last business day of the month.
DVA recalculates the DHOS benchmark interest rate and advises NAB of the change.
The adjustment to your DHOS home loan repayment and subsidy amount takes effect two months after the advice from the RBA, to allow for administration.
Example
RBA advises DVA of changes in the benchmark rate on the last business day of October 2010. You will see this change in the DHOS Benchmark Interest Rate reflected in your December subsidy payment.
Current benchmark interest rates
Table of Benchmark Interest Rates. Based on a $80,000 DHOS home loan over 25 years.
Variable rate | Total Repayment | Monthly Subsidy | Customer Repayment | Effective Date |
| 7.24% | $577.73 | $124.43 | $453.30 | 1 October 2010 |
| 7.24% | $577.73 | $124.43 | $453.30 | 1 November 2010 |
7.24% 7.67% 7.67% 7.67% 7.67% 7.67% 7.67% 7.67% 7.67% 7.67% 7.67%
| $577.73 $577.73 $577.73 $577.73 $577.73 $577.73 $577.73 $577.73 $577.73 $577.73 $577.73 | $124.43 $124.43 $124.43 $124.43 $124.43 $124.43 $124.43 $124.43 $124.43 $124.43 $124.43 | $453.30 $453.30 $453.30 $453.30 $453.30 $453.30 $453.30 $453.30 $453.30 $453.30 $453.30 | 1 December 2010 1 January 2011 1 February 2011 1 March 2011 1 April 2011 1 May 2011 1 June 2011 1 July 2011 1 August 2011 1 September 2011 1 October 2011
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