On Tuesday, the Reserve Bank of Australia (RBA) raised interest rates 0.25 of a percentage point, taking the cash rate target to 2.6 per cent.
While the major lenders were slow to react to last month's rate rise, the nation's big four banks quickly announced they were passing on the increase in full to customers on variable mortgage rates.
Some of the hikes will be passed on to savers, but how much savers benefit varies from bank to bank.
