Bankwest cuts interest rates for customers

media releases

05 May 2016

Bankwest is reducing its home loan standard variable rate for owner occupiers and investor variable rate by 0.20% p.a. effective Friday, 20 May 2016. The new standard variable rate for owner occupiers is Bankwest’s lowest in 30 years and remains one of the most competitive in the market.

The standard variable rate for owner occupiers will decrease from 5.65% p.a. to 5.45% p.a and the investor variable rate from 5.97% p.a. to 5.77% p.a. In addition, Business lending variable reference rates will decrease by 0.20% p.a.

Bankwest rates are under constant review to balance the needs of borrowers and depositors, in order to remain competitive and offer innovative products and great service nationwide.

Bankwest is also increasing the special introductory variable rate to 3.25% p.a. on the popular TeleNet Saver product for eligible accounts, effective from 20 May 2016.

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