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VIC Cash Rate Target Interest Calculator
The VIC Cash Rate Target Interest Calculator makes it simple to work out the interest owed. It covers multiple interest rates and is free to use.
- Choose the State and Court Jurisdiction.
- Enter the date you wish to start calculating Interest from. Note: This date is included in the calculations.
- Enter the date you wish to end calculating Interest. Note: This date is included in the calculations.
- Enter the dollar amount you wish to perform the calculation on.
- Enter a number in the Modifier if you wish to add a percentage to the existing rate (ie add 2% to every rate), otherwise leave as zero.
- Enter a 'File Reference' to be displayed on the page for printing (optional).
- Click the 'Calculate' button.
The VIC Cash Rate Target Interest Calculator makes it simple to work out the interest owed. It covers multiple interest rates and is free to use.
- Choose the State and Court Jurisdiction.
- Enter the date you wish to start calculating Interest from. Note: This date is included in the calculations.
- Enter the date you wish to end calculating Interest. Note: This date is included in the calculations.
- Enter the dollar amount you wish to perform the calculation on.
- Enter a number in the Modifier if you wish to add a percentage to the existing rate (ie add 2% to every rate), otherwise leave as zero.
- Enter a 'File Reference' to be displayed on the page for printing (optional).
- Click the 'Calculate' button.
The interest rate charged on unpaid legal costs cannot be more than 2% above the RBA's Cash Rate Target for those matters governed by the Legal Professional Act 2004 (Vic). For more details or any updates see:
https://lsbc.vic.gov.au/sites/default/files/2020-05/Fact_sheet-FAQs_Costs_disclosure-2020%20-_0.pdf
The Cash Rate Target is determined by the Reserve Bank of Australia's Board on the first Tuesday of every month (save January) at 2.30pm in Sydney. The rate is published following the meeting and any change takes effect the following day. For more information see:
https://www.rba.gov.au/statistics/cash-rate/
https://lsbc.vic.gov.au/sites/default/files/2020-05/Fact_sheet-FAQs_Costs_disclosure-2020%20-_0.pdf
The Cash Rate Target is determined by the Reserve Bank of Australia's Board on the first Tuesday of every month (save January) at 2.30pm in Sydney. The rate is published following the meeting and any change takes effect the following day. For more information see:
https://www.rba.gov.au/statistics/cash-rate/
Victorian Cash Rate Target Interest Rates
| Start | End | % Rate |
|---|---|---|
| 06/Dec/2007 | 05/Feb/2008 | 6.75 |
| 06/Feb/2008 | 04/Mar/2008 | 7 |
| 05/Mar/2008 | 02/Sep/2008 | 7.25 |
| 03/Sep/2008 | 07/Oct/2008 | 7 |
| 08/Oct/2008 | 04/Nov/2008 | 6 |
| 05/Nov/2008 | 02/Dec/2008 | 5.25 |
| 03/Dec/2008 | 03/Feb/2009 | 4.25 |
| 04/Feb/2009 | 07/Apr/2009 | 3.25 |
| 08/Apr/2009 | 06/Oct/2009 | 3 |
| 07/Oct/2009 | 03/Nov/2009 | 3.25 |
| 04/Nov/2009 | 01/Dec/2009 | 3.5 |
| 02/Dec/2009 | 02/Mar/2010 | 3.75 |
| 03/Mar/2010 | 06/Apr/2010 | 4 |
| 07/Apr/2010 | 04/May/2010 | 4.25 |
| 05/May/2010 | 02/Nov/2010 | 4.5 |
| 03/Nov/2010 | 01/Nov/2011 | 4.75 |
| 02/Nov/2011 | 06/Dec/2011 | 4.5 |
| 07/Dec/2011 | 01/May/2012 | 4.25 |
| 02/May/2012 | 05/Jun/2012 | 3.75 |
| 06/Jun/2012 | 02/Oct/2012 | 3.5 |
| 03/Oct/2012 | 06/Nov/2012 | 3.25 |
| 06/Nov/2012 | 04/Dec/2012 | 3.25 |
| 05/Dec/2012 | 07/May/2013 | 3 |
| 08/May/2013 | 06/Aug/2013 | 2.75 |
| 07/Aug/2013 | 03/Feb/2015 | 2.5 |
| 04/Feb/2015 | 05/May/2015 | 2.25 |
| 06/May/2015 | 03/May/2016 | 2 |
| 04/May/2016 | 02/Aug/2016 | 1.75 |
| 03/Aug/2016 | 04/Jun/2019 | 1.5 |
| 05/Jun/2019 | 01/Jul/2019 | 1.25 |
| 03/Jul/2019 | 01/Oct/2019 | 1 |
| 02/Oct/2019 | 03/Mar/2020 | 0.75 |
| 04/Mar/2020 | 19/Mar/2020 | 0.5 |
| 20/Mar/2020 | 03/Nov/2020 | 0.25 |
| 04/Nov/2020 | 03/May/2022 | 0.1 |
| 04/May/2022 | 07/Jun/2022 | 0.35 |
| 08/Jun/2022 | 05/Jul/2022 | 0.85 |
| 06/Jul/2022 | 02/Aug/2022 | 1.35 |
| 03/Aug/2022 | 06/Sep/2022 | 1.85 |
| 07/Sep/2022 | 04/Oct/2022 | 2.35 |
| 05/Oct/2022 | 01/Nov/2022 | 2.6 |
| 02/Nov/2022 | 06/Dec/2022 | 2.85 |
| 07/Dec/2022 | 07/Feb/2023 | 3.1 |
| 08/Feb/2023 | 07/Mar/2023 | 3.35 |
| 08/Mar/2023 | 02/May/2023 | 3.6 |
| 03/May/2023 | 06/Jun/2023 | 3.85 |
| 07/Jun/2023 | 07/Nov/2023 | 4.1 |
| 08/Nov/2023 | 01/Jan/2100 | 4.35 |