Following the decision of the RBA to cut the cash rate, Bankwest has today announced it will reduce home loan interest rates on all Standard Variable Rate and Investor Variable Rate mortgages by 0.19% per annum.
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Bankwest cuts home loan interest rates
4 July 2019
Standard Variable Rate
| Current rate (% p.a.) | New rate (% p.a.) | |
|---|---|---|
|
Owner Occupied Principal & Interest
|
5.32
|
5.13
|
|
Owner Occupied Interest Only
|
5.67
|
5.48
|
|
Investor Principal & Interest
|
5.97
|
5.78
|
|
Investor Interest Only
|
6.22
|
6.03
|
Current rate (% p.a.)
New rate (% p.a.)
Owner Occupied Principal & Interest
5.32
5.13
Owner Occupied Interest Only
5.67
5.48
Investor Principal & Interest
5.97
5.78
Investor Interest Only
6.22
6.03
Customers who have questions regarding today’s rate change are encouraged to speak with their local Bankwest home finance managers.
These changes are effective as of 23 July 2019 at which point full details will be shown on the Bankwest website.
Notes:
As a result of this rate cut, the standard variable rate has now been reduced by 0.44% p.a. since June, which on a $400,000 home loan equates to a reduction in the minimum monthly repayment of $110 or $1300 per annum.
About Bankwest
Bankwest provides personal and business banking solutions for more than 1.1 million retail and business customers across Australia. Bankwest customers enjoy access to an extensive network of stores and business centres, direct and third party distribution channels, agencies and electronic banking facilities, as well as 24-hour telephone and internet banking. Bankwest is a division of the Commonwealth Bank of Australia.
Bankwest provides personal and business banking solutions for more than 1.1 million retail and business customers across Australia. Bankwest customers enjoy access to an extensive network of stores and business centres, direct and third party distribution channels, agencies and electronic banking facilities, as well as 24-hour telephone and internet banking. Bankwest is a division of the Commonwealth Bank of Australia.
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