Sydney, Nsw Australia (PressExposure) May 09, 2011 -- Today Bankwest announces the introduction of the Business FeeSaver Loan, a straightforward product that delivers all the benefits of a Bankwest business loan, minus the upfront bank fees. Bankwest will begin offering the Business FeeSaver Loan, to business customers Australia-wide immediately.
This unique product has no upfront bank establishment fees and no ongoing loan maintenance fees.
The Business FeeSaver Loan will provide customers with a competitive rate, offering a potential saving over $2,000 in fees during the first year*.
Bankwest's research indicates in 2010, almost a third of SMEs considered switching banks, with many voicing their frustration with fees. This loan will offer an alternative and give customers in the business community more choice.
Ian Corfield, Chief Executive of Bankwest Business believes SMEs want straightforward, convenient and easy to understand loans.
"Bankwest is committed to assisting customers in achieving their business goals. Having no upfront establishment or ongoing maintenance bank fees will provide convenience, choice and savings to our business customers."
In a market still feeling the effects of the global financial crisis, Bankwest wants to assist customers who want to grow their businesses.
"We understand the frustration with fees, so we are excited to be able to offer the Business FeeSaver Loan - as we continue to innovate across our business we are finding new ways to bring better products and services to market" Mr Corfield said.
For more information about this or any of our business products please see bankwest.com.au/business.
For further information, contact:
Bankwest Media Manager
Mobile: 0467 736 662
Bankwest National Media Manager
Mobile: 0467 717 209
*Savings based on a standard establishment fee of 0.5% of a loan limit of $300,000, $500 Legal Doc Preperation fees and the first year's annual loan maintenance fee of $240 charged.
Lending criteria, fees and charges apply. Terms and conditions apply and are available on request. Minimum loan amount $20,000.