Westpac reduces standard variable home loan rate by 0.20%
21 October, 2008
Westpac Banking Corporation today announced a further decrease of 0.20% to its standard variable home loan rate reducing it to 8.36% effective 27 October 2008.
"Today's interest rate cut can reduce customers' monthly repayments by approximately $35 on a $250,000 mortgage, delivering further timely relief to household budgets," Westpac Group Executive, Retail and Business Banking Peter Hanlon said.
Mr Hanlon added that Westpac also offered customers the option of fixing all or part of their mortgage on one of the bank's market-leading fixed-rate loans which included a three-year rate of 6.99%. He encouraged customers to discuss their options with their home finance manager.
Customers facing financial difficulties in relation to their Westpac loans or accounts can also contact Westpac Assist on 1800 067 497. Westpac Assist has a team of specialists able to provide personal assistance to help our customers find the best possible way to regain and maintain control over their finances.
