Bankwest cuts home loan interest rates

2 October 2019

Bankwest has today announced it will reduce home loan interest rates on Standard Variable Rate (SVR) mortgages by between 0.13% p.a. and 0.25% p.a., effective Wednesday 16 October 2019.

Standard Variable Rate

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   Current rate (% p.a.) New rate (% p.a.) Change (% p.a.)
Owner Occupiers
(Also known as ‘Mortgage Shredder Reference Rate’)
5.13 5.00 -0.13
Owner Occupiers – Interest Only
(Also known as ‘Mortgage Shredder Interest Only Reference Rate’)
5.48 5.35 -0.13
Investors
(Also known as ‘Investor Variable Reference Rate’ or ‘Investor Reference Rate’) 
5.78 5.65 0.13
Investors – Interest Only
(Also known as ‘Investor Interest Only Reference Rate’)
6.03 5.78 -0.25
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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 Wednesday 16 October 2019, 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 amazing 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 is a division of the Commonwealth Bank of Australia.

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