The country's largest bank has moved to increase some of its home loan and savings interest rates.

It comes two days after the Reserve Bank increased the official cash rate from 3 per cent to 3.5 per cent - its fifth consecutive 50 basis point rise.

Today ANZ lifted its floating home loan rate and flexible home loan rates by 50 basis points to 7.34 per cent and 7.45 per cent.

Its blueprint to build a home loan rate - a discounted rate for those building a home - will also rise 50 basis points to 4.58 per cent.

ANZ said there would be no change to its fixed home loan rates at this time.

ANZ last hiked its fixed loan rates on September 21 in a move that was followed by the other banks.

Its rates increased by between 26 and 35 basis points. Its standard two-year rate is now 6.35 per cent while its special rate - for borrowers with at least 20 per cent equity - is 5.75 per cent. Both increased 30 basis points.

The bank said in a statement that around 90 per cent of its home loan balances were on fixed rates.

Its business floating and overdraft base rates would also rise 50 basis points.

But it only plans to increase the rate on its serious saver accounts - its largest savings product - by 40 basis points to 2.7 per cent.

Ben Kelleher, ANZ managing director for personal banking, said with local and international inflation rates remaining high the Reserve Bank is continuing to lift the OCR in a bid to cool the economy.

"With increasing global economic uncertainty and higher inflation, we know people are having to make some tough choices about their spending," Kelleher said.

"And they're feeling understandably nervous."

"However, we can see from our customer data that many are in good shape to get through this. Where possible, people are choosing to stay on top of their debt and save money where they can."

He encouraged anyone who has concerns or wanted to take the opportunity to talk about their finances to get in touch with the bank early.

"People shouldn't be nervous about talking to their bank, we're here to support customers with the various options available to them.

"There are steps you can take to manage your home loan and things you can do to help relieve some financial pressure," he said.