Keystart’s interest rate policy is to use the average of the standard variable home loan interest rates of the four major banks - Australia and New Zealand Banking Group (ANZ), National Australia Bank (NAB), Westpac Banking Corporation (Westpac) and the Commonwealth Bank of Australia (CBA).
The loan products we use to benchmark are:
• ANZ – Standard Variable Home Loan
• CBA - Standard Variable Home Loan (without the wealth package)
• NAB – Tailored Home Loan Variable Rate
• Westpac – Rocket Repay Home Loan
Following any RBA announcement of a change to the official rate, Keystart will normally wait until the four major banks have announced their new standard variable home loan rate so that it can determine the new average rate.
In the event that one or more of the major banks move in isolation, Keystart will wait for a period of 30 days from the date of the first major bank change in order to allow for consideration of interest rate movement by the remaining major banks.
Keystart will only consider a change to the interest rate when a minimum of two of the major banks move.
Once a change to Keystart’s interest rate has been approved, a notification will be placed on our website and the Client Portal.