Bankwest has today announced it will reduce home loan interest rates on Standard Variable Rate (SVR) mortgages by 0.25% p.a.
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Bankwest cuts home loan interest rates
3 March 2020
Standard Variable Rate
|
Current rate (% p.a.) |
New rate (% p.a.) |
Change (% p.a.) |
|
|---|---|---|---|
|
Owner Occupiers
(Also known as ‘Mortgage Shredder Reference Rate’) |
5.00
|
4.75
|
-0.25
|
|
Owner Occupiers – Interest Only
(Also known as ‘Mortgage Shredder Interest Only Reference Rate’) |
5.35
|
5.10
|
-0.25
|
|
Investors
(Also known as ‘Investor Variable Reference Rate’ or ‘Investor Reference Rate’) |
5.65
|
5.40
|
-0.25
|
|
Investors – Interest Only
(Also known as ‘Investor Interest Only Reference Rate’) |
5.78
|
5.53
|
-0.25
|
Current rate
(% p.a.)
(% p.a.)
New rate
(% p.a.)
(% p.a.)
Change
(% p.a.)
(% p.a.)
Owner Occupiers
(Also known as ‘Mortgage Shredder Reference Rate’)
(Also known as ‘Mortgage Shredder Reference Rate’)
5.00
4.75
-0.25
Owner Occupiers – Interest Only
(Also known as ‘Mortgage Shredder Interest Only Reference Rate’)
(Also known as ‘Mortgage Shredder Interest Only Reference Rate’)
5.35
5.10
-0.25
Investors
(Also known as ‘Investor Variable Reference Rate’ or ‘Investor Reference Rate’)
(Also known as ‘Investor Variable Reference Rate’ or ‘Investor Reference Rate’)
5.65
5.40
-0.25
Investors – Interest Only
(Also known as ‘Investor Interest Only Reference Rate’)
(Also known as ‘Investor Interest Only Reference Rate’)
5.78
5.53
-0.25
Please note: The above reference rates may not apply to your particular repayment type. The reference rate and discount margin applicable to an individual loan is specified in the loan contract. Please review your loan contract to identify which reference rate applies to you or get in touch with us via the Bankwest App, or call on 13 17 19.
These changes are effective as of 18 March 2020, at which point full details will be shown on the Bankwest website.
Customers who have questions regarding today’s rate change are encouraged to speak with their local Bankwest home finance managers.
About Bankwest
Bankwest’s vision is to deliver brilliant customer experiences that matter, and our purpose is to improve the financial wellbeing of our customers and communities. Bankwest provides personal and business banking solutions for more than 1.1 million customers across Australia. Our customers enjoy access to an extensive network of branches and business centres, direct and third-party distribution channels, agencies and electronic banking facilities, as well as 24-hour banking on the telephone, internet and the Bankwest App. Bankwest, a division of Commonwealth Bank of Australia ABN 48 123 123 124 AFSL/Australian credit license 234945.
Bankwest’s vision is to deliver brilliant customer experiences that matter, and our purpose is to improve the financial wellbeing of our customers and communities. Bankwest provides personal and business banking solutions for more than 1.1 million customers across Australia. Our customers enjoy access to an extensive network of branches and business centres, direct and third-party distribution channels, agencies and electronic banking facilities, as well as 24-hour banking on the telephone, internet and the Bankwest App. Bankwest, a division of Commonwealth Bank of Australia ABN 48 123 123 124 AFSL/Australian credit license 234945.
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