November 2026 interest rate update

Following the Reserve Bank of Australia’s cash rate decision, Bankwest will increase the standard variable interest rate on new and existing home loans by 0.25 per cent per annum, effective 13 November 2026.

While the new rates take effect from 13 November 2026, changes to minimum repayment amounts will not occur immediately. Customers will be contacted directly if their repayment amount is changing, with clear information about what this means for them.

Luke Robinson, General Manager Customer Engagement, said:

“We know another interest rate increase will add to the pressure on household budgets, particularly when many Australians are already making difficult decisions about their everyday spending.

“We understand the impact higher repayments can have, and we're here to help customers understand what these changes mean for them and what support is available.

“Having a clearer picture of regular expenses can make planning ahead feel a little easier. Tools like Upcoming Payments and Subscriptions Manager in the Bankwest app help customers see their payments and subscriptions in one place and find where there may be a little breathing room in their spending.

“We also recognise that managing higher costs isn't always as simple as adjusting a budget. If customers are worried about meeting their repayments, we encourage them to reach out early so we can understand their circumstances and work through the support options available."