Bankwest’s lowest home loan standard variable rate in 30 years

media releases

08 May 2015

Following this week’s historic RBA announcement, lowering the official cash rate to a record low 2.00%, Bankwest is reducing its home loan standard variable rate (SVR) from 5.64% p.a. to 5.47% p.a. effective 19 May 2015 – the lowest Bankwest SVR offered in 30 years.

Great news for savers as Bankwest will also increase rates for its 4-month and 10-month term deposits to 3.00% p.a.

Having carefully considered the impact of the RBA’s record low cash rate on both savers and borrowers, these changes mean Bankwest’s home loan customers will benefit significantly from the low SVR while deposit holders can look to secure greater interest on their savings.

Bankwest’s rates are constantly reviewed in order to balance market competitiveness with the need to offer great rates and innovative products and service to 1.3 million customers nationwide.

Bankwest always aims to offer competitive rate options to customers and these changes leave its SVR and its 4-month and 10-month term deposit rates very competitively placed.

For more information contact:

Russell Quinn
Bankwest Senior Manager, Media & Communications
0477 329 447
russell.quinn@bankwest.com.au

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