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Why do my interest rates get higher every month?

Posted by Smac Smac
Message 1 of 2 1,453 Views

Hi, we got our complete variable home loan in August 2016, paying P&I. We pay fortnightly payments and have offset accounts. We were told our interest rates would be 5.29%, however every month our interest payment keep increasing by a couple of hundred dollars. Considering we are putting more money into our offset each month, I'm confused as to why this is happening. Am I doing something wrong?Is Bankwest in the wrong? Any help is much appreciated!

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Re: Why do my interest rates get higher every month?

Posted by LyndsC LyndsC
Message 2 of 2 1,439 Views

Hi @Smac, for security reasons we can't access or discuss any personal account information over Facebook, so we'd need to speak with you over the phone on 13 17 19, or via our secure online messaging system to assist with this and look into what's happened here. You can access messaging during WA business hours by logging into online banking using a computer and selecting "Message us now".

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