Media releases

Westpac cuts fixed rate for three years to 5.14% p.a. under its Premier Advantage Package

 

22 January 2014

Westpac has provided a boost to home-owners by cutting interest rates on its packaged three year fixed rate mortgage that takes the new rate to 5.14% (Comparison Rate 5.60% p.a.).

The new offer, which includes a packaged discount of 0.2%, is effective Friday (24 January 2014) and represents a cut of 0.05% on the current three year fixed interest rate.

“Westpac understands that the dream of many Australians is to own their home sooner, and we’re pleased to be able to offer  a competitive three year fixed rate for home owners who are looking for security and peace of mind about their loans and monthly repayments,” said Gai McGrath, General Manager, Westpac Retail Banking.

Note to Editors:

The offer of the new three-year fixed rate home loan of 5.14% includes a discount of 0.2% under Westpac’s award-winning Premier Advantage Package. As well as the discounts offered, the benefits of the package also offer free loan increases, switching and portability, a range of annual fee-free credit cards, no account keeping fees on deposit accounts and discounts on other products including our market leading Home and Contents insurance. Premier Advantage Package Conditions of Use and deposit account Terms and Conditions apply. Annual fee, currently $395, applies. Package benefits cannot be taken in conjunction with, or in addition to other special offers, negotiated rates or discounts. Not available to company and trust account holders.

The new 5.14% packaged three-year rate is effective Friday 24 January and is available to new and existing customers.