September 19, 2009
The Bankwest Capped Rate variable home loan was launched in the first week of September 2009 with an advertised variable interest rate of 5.4 percent p.a. Compared to most three-year fixed rates, the Bankwest Capped Rate variable home loan is good value because it will not go above 7.5 percent p.a. until November 12, 2012. As the Bankwest Capped Rate variable home loan interest rate can change just the same as a normal variable interest rate, it is likely to move in gradual steps. Australians can pay a slightly higher rate for the Bankwest Capped Rate variable home loan compared to a simple variable interest rate home loan, but the cost is for the surety that the interest rate will not rise higher than 7.50 percent during the capped period. Compare your home loan to the most competitive home loan rates currently on the market, right here at RateCity.