Bendigo and Adelaide Bank Ltd has raised the interest rates across all its residential loans by the same amount as the Reserve Bank of Australia’s (RBA) 25 basis point rate rise announced on Tuesday.

Bendigo said its standard variable rate for new and existing home loans will rise from 6.15 per cent to 6.4 per cent from Monday, November 9.

“In setting interest rates, Bendigo and Adelaide Bank takes into account all of its key stakeholders - borrowers, depositors and shareholders - to reach a fair balance,” the bank said in a statement on Wednesday.

Australia’s big four banks raised their standard variable rate on home loans by 25 basis points on Tuesday soon after the RBA’s rate rise announcement.

Standard variable rates across the major banks now stand at 6.24 per cent at Commonwealth Bank and National Australia Bank, 6.31 per cent at ANZ Banking Group and Westpac.

AAP