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Current Mortgage Interest Rate

Posted by alisonjolly alisonjolly
Message 1 of 4 1,262 Views

How can I see my current mortgage interest rate when I login online? It doesn't appear to be anywhere!

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Re: Current Mortgage Interest Rate

Posted by DanaeC DanaeC
Message 2 of 4 1,249 Views

Hi @alisonjolly, thanks for your enquiry.

 

When you take out a loan, the amount you borrow is referred to as the limit. For a number of reasons, a loan may be disbursed with multiple limits - for example if Lenders Mortgage Insurance is required, or if you are combining multiple loans into one.

Due to limitations within our Online Banking, when a loan is set up this way, the system cannot transfer the information regarding interest rate, repayments and due date to Online Banking. However, if at any time there are changes to the rate, repayment or principal balance of the loan, you will receive notification in writing.

 

Thank you.

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Re: Current Mortgage Interest Rate

Posted by MikeG MikeG
Message 3 of 4 482 Views

'Computer says no' is not a great answer. As a customer I dont want to have to search for my current interest rate. it should be visible each month what the rate I'm being charged is as it happens, and when the rate changes it should appear as a line on the statement saying from what rate to what rate it is now.

 

I have no idea what my interest rate is as the letter that appeared in the post will have been destroyed a long time ago on the assumption I could log in and see it easily on the online banking.

 

Please Bankwest, update your systems to make this rather critical information easily visible to your customers.

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Re: Current Mortgage Interest Rate

Posted by DanaeC DanaeC
Message 4 of 4 480 Views

Hey @MikeG, sorry for any confusion here.

If there is only 1 limit on your loan, then the interest rate is visible in your Online Banking via the "Manage" tab (Mobile App), or "See More Account Details" (Full Site).

 

Your statement most certainly shows your interest rate, and is automatically issued every 6 months. You are able to change the statement frequency to quarterly, monthly etc as you like - any changes to the interest rate during the statement period will also be shown.

If you'd like to discuss amending your statement frequency, you can log in to Online Banking and select "Ask Us" via the Mobile App menu or "Message us Now" from a PC, where our Online Team would be happy to help out with this. Alternatively, you can give us a buzz on 13 17 19 - both services are available 24/7 for your convenience.

Thank you.

 

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