Westpac
Following the Reserve Bank of Australia's decision to increase the cash rate by 0.25%, Westpac has announced a range of interest rate changes for home loan and deposit customers, effective 21 February.
For deposit customers:
- Westpac Life total variable rate with bonus interest will increase by 0.25% p.a. to 4.00% p.a.
- Westpac eSaver total variable rate will increase by 0.25% p.a. to 4.00% p.a. for new customers for the first five months.
- This is in addition to a current 12-month Term Deposit offer of up to 4.10% p.a. available for Westpac customers that open or renew online.*
For home loan customers:
- Home loan variable interest rates will increase by 0.25% p.a. for new and existing customers.
"Today we've announced interest rate increases to our Westpac Life and eSaver accounts to support customers as they think about their financial goals in the year ahead," said Chris de Bruin, Westpac Chief Executive of Consumer & Business Banking.
"We know at this time of year some customers are reassessing their household budgets and looking for ways to manage their money. We have a number of tools available in the Westpac app to help customers track their spending and manage their finances.
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