Bankwest cuts interest rates for home loan customers, lifts rates for depositors
03 August 2016
Bankwest is reducing its home loan standard variable rate for owner occupiers and investor variable rate by 0.10% p.a. effective Tuesday, 23 August 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 5.45% p.a. to 5.35% p.a. and the investor variable rate from 5.77% p.a. to 5.67% p.a.. In addition, Business lending variable reference rates will decrease by 0.10% p.a..
Bankwest rates are under constant review to balance increased funding costs with the needs of borrowers and depositors, in order to remain competitive and offer innovative products and great service nationwide.
Bankwest is also increasing the interest rate for the 3-month and 12-month Term Deposit products to 3.00% p.a., effective from Tuesday, 9 August 2016.