on 03-05-2018 02:08 PM
I recently signed up to a new home loan with bankwest and on reading the final paperwork sent to me to sign found that i will be paying an amount of $395 per year for this loan they have offered me. That seems to be quite ludicris given that it doesnt actually explain what that $395 is actually going towards and why its an annual fee. Over the life of the loan thats over $11k.
WHY IS BANKWEST TRYING TO SHAFT ME FOR THIS...isnt all the interest enough to make a profit for you?
on 04-05-2018 10:10 AM
Hi @cramsamy28, it sounds like you're referring to the Complete Package Fee. The Complete Package Fee is charged in regards to the package that covers your home loan/s, offset account/s and credit card. It waives the monthly offset fee, the credit card annual fee and provides a fixed discount on the interests rates applied to your loan.
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on 04-05-2018 10:13 AM
To be honest it just looks like the fee is just being moved from one department to another so it looks like a saving however the money is just being made in a different avenue. Thats not very customer friendly.
on 04-05-2018 03:04 PM