Jan 31, 2020 |


Ahead of the Reserve Bank of Australia’s (RBA) first monetary policy decision scheduled in less than two weeks, Westpac and Bankwest announced several changes to their offered rates – primarily their fixed rates. 

If you are in the market for a fixed investment rate, the market is getting competitive with Westpac and Bankwest latest offerings.

Westpac – Premier Advantage Package – Principle & Interest payments.

Bankwest – Complete Package – Principle & Interest payments.

1 YR    3.19%        Comparison Rate    4.40%
1 YR    3.49     Comparison Rate    4.00%
2 YR    3.09%  Comparison Rate    4.30%
2 YR    3.09%     Comparison Rate    3.92%
3 YR    3.09%      Comparison Rate    4.22%
3 YR    2.93%       Comparison Rate    3.84%
4 YR    3.19%    Comparison Rate    4.18%
4 YR    3.49%  Comparison Rate    3.98%
5 YR    3.19%  Comparison Rate    4.12%
5 YR    3.19%   Comparison Rate    3.85%

So, let’s watch, wait and see what the RBA does regarding interest rates in the next couple of weeks and the domino effect of the remaining Financiers to follow.

** The comparison rate is based on a loan of $150,000 over a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

**Rates are part of a package which attracts an annual package fee.

Warm regards,