Westpac said it would increase mortgage interest rates by 0.5 percentage points from June 21. InterestRate auspol
Westpac will increase mortgage interest rates by 0.5 percentage points, passing on the Reserve Bank’s latest official rate rise to customers in full.
It said it would also offer a one-year term deposit rate of 2.25 per cent, and other deposit rates were under review. “Our customers have managed their finances carefully during the pandemic, with many putting more funds aside in their savings and offset accounts. This means the majority of our customers are ahead on mortgage repayments and have a buffer available to help them manage an interest rate increase,” de Bruin said.
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