September 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 9 October 2026.
While the new rates take effect from 9 October 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 understand an interest rate increase can put more pressure on household budgets, particularly when customers are already managing higher everyday costs.
“When there’s more pressure on the household budget, having a clear view of what’s coming up can make it easier to plan and stay in control. That’s why we’re continuing to build simple, useful money management features into the Bankwest app.
“Features like Upcoming Payments and Subscriptions Manager are designed to give customers greater visibility of their regular commitments, so they can understand where their money is going, anticipate what’s ahead and make informed choices about their spending.
“Digital tools are one part of how we support customers. Anyone who’s concerned about their repayments should contact us as soon as possible so we can understand their circumstances and talk through the support options available."
Disclaimer
Media releases are prepared without considering an individual reader’s objectives, financial situation or needs. Readers should consider the appropriateness to their circumstances. Visit Terms and conditions to access Product Disclosure Statements or Terms and Conditions, which are currently available electronically for products of Bankwest, along with the relevant Financial Services Guide. Target Market Determinations are available here. Loan applications are subject to credit approval. Interest rates are correct at the time they are published and are subject to change. Fees and charges may apply.
About Bankwest
Bankwest’s ambition is to be Australia’s favourite digital bank, through uncomplicated and genuinely useful home lending, personal and everyday banking solutions for customers across the nation. We support customers in doing their banking in the ways that suit them, with innovative digital solutions, a 24/7 Customer Engagement Centre, and a passionate broker community. Bankwest is a division of Commonwealth Bank of Australia ABN 48 123 123 124 AFSL/Australian credit licence 234945.