7.7 / 10

based on 5836 reviews as rated by Mozo community

Bankwest home loans

Bankwest has been offering Australians personal and business banking services since 1895. Bankwest joined the Commonwealth Bank Group in 2008 becoming part of Australia’s largest provider of financial services.

Bankwest has a reputation for ‘making banking easier’ and has a wide range of competitive fixed, variable and package home loans to suit whatever your borrowing needs are.

If you think a Bankwest home loan could be a good choice, we’ve made things nice and simple by giving you all the information you need here on this page. You’ll find out what home loans Bankwest offers, the features you should keep an eye out for and what documents you should have at the ready to apply for a Bankwest home loan.

What home loans do Bankwest offer?

Rates and fees verified as correct at 26 October, 2020. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

If knowing exactly what your loan repayments will be is important to you, Bankwest’s Fixed Rate Loan is definitely something to consider. You have a choice of terms to choose from 1 year to a period of 5 years. It is available for loans starting from $20,000 and if you’re an owner occupier you can borrow up to 90% of the property’s value (up to 80% LVR for investors). With the Fixed Rate Loan you can make extra repayments up to $10,000 a year and there is a redraw facility should you need to free up funds at a later date but you’ll be charged an access fee. While there is a monthly service fee, you’ll also be able to save a bit on interest repayments with the loan’s optional offset facility which allows you to offset up to 40% of the loan amount.

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

3.59% p.a.

4.88% p.a.

$12.00 monthly

$545

2.53% p.a.

4.24% p.a.

$12.00 monthly

$545

3.19% p.a.

5.08% p.a.

$12.00 monthly

$545

2.69% p.a.

4.75% p.a.

$12.00 monthly

$545

Variable Rate Home Loans

Bankwest caters to all borrowing needs with its variable home loan options from first time buyers with the SuperStart home loan, the internet savvy with the Online Home Loan through to investors with the Premium Select option. A variable rate home loan from Bankwest is a perfect fit if you are looking for home loan flexibility. You get competitive interest rates, money saving features like an offset account (monthly fee applies) and the ability to make free extra repayments and a choice of weekly, fortnightly or monthly repayments.

Home loan repayments calculator

years

Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

5.10% p.a.

5.12% p.a.

$0.00

$250

4.75% p.a.

4.77% p.a.

$0.00

$250

3.42% p.a.

3.69% p.a.

$0.00

$0

3.77% p.a.

3.78% p.a.

$0.00

$0

3.42% p.a.

3.69% p.a.

$0.00

$0

5.53% p.a.

5.55% p.a.

$0.00

$250

5.40% p.a.

5.42% p.a.

$0.00

$250

4.02% p.a.

4.03% p.a.

$0.00

$0

4.15% p.a.

4.16% p.a.

$0.00

$0

4.02% p.a.

4.03% p.a.

$0.00

$0

Fixed Package Home Loan

The Complete Home Loan Package from Bankwest is a great choice if your loan is $200,000 or more and you love the idea of saving money by combining your accounts. With Bankwest’s package you’ll receive a discounted home loan interest rate, plus several fees on your home loan (i.e. application, property valuation) and the annual fee on your rewards credit card will be automatically waived. There is an annual package fee on the fixed rate option, but you’ll have a complete range of money savvy features at your fingertips including additional repayment flexibility, a 40% offset account and the choice of interest based repayments.

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

3.39% p.a.

3.77% p.a.

$395.00 yearly

$250

2.33% p.a.

3.50% p.a.

$395.00 yearly

$250

2.99% p.a.

4.10% p.a.

$395.00 yearly

$250

2.49% p.a.

3.97% p.a.

$395.00 yearly

$250

Variable Package Home Loan

You might also opt for a variable rate Complete Home Loan Package from Bankwest if you’re borrowing more than $200,000 and want to combine your accounts to save some cash. The variable option comes with all the benefits of the fixed, plus a fee free redraw facility and an optional 100% offset account, which means any money in the account will be offset daily against your home loan principal to reduce the amount of interest you are charged.

Home loan repayments calculator

years

Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

3.86% p.a.

4.28% p.a.

$395.00 yearly

$250

3.67% p.a.

4.09% p.a.

$395.00 yearly

$250

3.32% p.a.

4.00% p.a.

$395.00 yearly

$250

4.05% p.a.

4.47% p.a.

$395.00 yearly

$250

3.92% p.a.

4.34% p.a.

$395.00 yearly

$250

4.05% p.a.

4.47% p.a.

$395.00 yearly

$250

3.92% p.a.

4.34% p.a.

$395.00 yearly

$250

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.

Bankwest home loan features in a glance

Image of coins

Offset facility

Saving on your interest repayments is easy with an optional 100% offset facility that is available with Bankwest’s variable and package home loans, but there may be a monthly fee charged. The Fixed Rate home loan has an optional 40% offset facility.

Offset icon

Split your loan

With Bankwest’s Complete Home Loan Package, you can split your loan between a fixed and variable rate. Not only will you have the certainty of a fixed rate, you’ll be able to access all the flexibility of a variable home loan.

Repayment Icon

Additional repayments

Want to pay your home loan off sooner and reduce the interest you’re charged over the life of the loan? Bankwest’s home loans have the handy feature of additional repayment flexibility. If you have the Fixed Rate home loan you won’t miss out either because you can make up to $10,000 in extra repayments every year without penalty.

Home loan icon

Online-exclusive home loan

You can apply and manage your home loan exclusively online with Bankwest’s Online Home Loan. There are no ongoing fees and you’ll get all the flexible features of the other variable home loans, but it is only available on loan amounts from $100,000 to $1,000,000.

How are Bankwest home loans rated?

Mozo users have rated Bankwest home loan on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of home-loans
Bankwest home loans
Overall
7.1/10
Price
Features
Customer service
Convenience
Trust
1132 reviews

Recent Bankwest home loan reviews

Bankwest Home Loan review
Overall 1/10
Worst experience with any financial institution.

I'm shocked and disgusted by the way this bank handles itself. Last year whilst overseas my card was used fraudulently to the tune of 14k all at a venue I was at for a short period of time. I asked them to investigate and send me the dockets which should highlight that the transactions were fraudulent and I was not in the same venue for 19 hours!!!.. which should have been an obvious giveaway something was not right in the first place! After 20 or so calls and emails they admitted they did not access the dockets/receipts and as most of the transactions used a pin it was down to me to pay and that was that, after reading the other reviews on here it seems like they just can't be bothered doing their job properly. I will be chatting to the ombudsman now as I can see I'm not on my own here. Move onto this year, as with most of us COVID has affected us all in some ways, after I put my mortgage on hold for a few months to see how things played out I just called to see what my options were moving forward and wanted to change from interest only to interest and principle which you think would be music to their ears given the current state of the economy and to decrease the interest that has accrued over the past few months but no! By way of background I have 9 months left of a fixed interest only mortgage and was told there is no way of me swapping to principal and interest without paying 11k break fees even though I was willing to keep the mortgage with them and lock in a new 3 or 5 year deal. How short sighted and economically irresponsible they are, they should be trying everything they can to assist long term customers especially with the current COVID financial climate but instead they look to make things harder. Surely someone at a senior level must have the hindsight to see their policies serve nothing but to annoy and drive customers away...? Come July I won't be a customer that's for sure... Shame on you Bankwest & Commbank for letting this happen and hopefully a potential customer reads this and goes with a bank with ethics.

Read full review

I'm shocked and disgusted by the way this bank handles itself. Last year whilst overseas my card was used fraudulently to the tune of 14k all at a venue I was at for a short period of time. I asked them to investigate and send me the dockets which should highlight that the transactions were fraudulent and I was not in the same venue for 19 hours!!!.. which should have been an obvious giveaway something was not right in the first place! After 20 or so calls and emails they admitted they did not access the dockets/receipts and as most of the transactions used a pin it was down to me to pay and that was that, after reading the other reviews on here it seems like they just can't be bothered doing their job properly. I will be chatting to the ombudsman now as I can see I'm not on my own here. Move onto this year, as with most of us COVID has affected us all in some ways, after I put my mortgage on hold for a few months to see how things played out I just called to see what my options were moving forward and wanted to change from interest only to interest and principle which you think would be music to their ears given the current state of the economy and to decrease the interest that has accrued over the past few months but no! By way of background I have 9 months left of a fixed interest only mortgage and was told there is no way of me swapping to principal and interest without paying 11k break fees even though I was willing to keep the mortgage with them and lock in a new 3 or 5 year deal. How short sighted and economically irresponsible they are, they should be trying everything they can to assist long term customers especially with the current COVID financial climate but instead they look to make things harder. Surely someone at a senior level must have the hindsight to see their policies serve nothing but to annoy and drive customers away...? Come July I won't be a customer that's for sure... Shame on you Bankwest & Commbank for letting this happen and hopefully a potential customer reads this and goes with a bank with ethics.

Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Dominic, New South Wales reviewed about 1 month ago
Bankwest Home Loan review
Overall 8/10
Great customer service & competitive interest rate

The Bankwest home loan customer service is top notch. I called to fix my interest rate and the bank officer talked me through the process. I had to put additional funds in, so I called him a few months later when I had the funds ready and he helped me in 2 minutes over the phone! They always call back when you leave a message and I think their fixed rate is very competitive. Awesome service so far.

Read full review

The Bankwest home loan customer service is top notch. I called to fix my interest rate and the bank officer talked me through the process. I had to put additional funds in, so I called him a few months later when I had the funds ready and he helped me in 2 minutes over the phone! They always call back when you leave a message and I think their fixed rate is very competitive. Awesome service so far.

Price
9/10
Features
7/10
Customer service
10/10
Convenience
9/10
Trust
9/10
Less
Kirra, New South Wales reviewed about 1 month ago
Bankwest Fixed Rate Home Loan review
Overall 10/10
Very satisfied and would recommend services.

I like my bank as you are able to pick up the phone and speak to a support person when needed. Prime example as I was in Bali early this year and I transferred money to my son in Australia with no qualms but when completed had major doubts about what I had done and how safe it may have been. My husband jumped on the phone and rang Bankwest and immediately they took care to make sure our accounts were protected.

Read full review

I like my bank as you are able to pick up the phone and speak to a support person when needed. Prime example as I was in Bali early this year and I transferred money to my son in Australia with no qualms but when completed had major doubts about what I had done and how safe it may have been. My husband jumped on the phone and rang Bankwest and immediately they took care to make sure our accounts were protected.

Price
10/10
Customer service
10/10
Convenience
5/10
Trust
10/10
Less
Lorraine, Victoria reviewed about 1 month ago
Bankwest Complete Variable Home Loan (Package) review
Overall 1/10
Do not use this bank.

I've been with Bankwest for 9 years now. Never missed a payment. Never in arrears. Never contacted by the bank to ask if they could provide me with a better product. I attempted to re-draw/re-finance for $20K in order to do some renovations to an investment property. It's been two months now and still no answer! Don't bother with this bank. There are plenty of other great lenders out there.

Read full review

I've been with Bankwest for 9 years now. Never missed a payment. Never in arrears. Never contacted by the bank to ask if they could provide me with a better product. I attempted to re-draw/re-finance for $20K in order to do some renovations to an investment property. It's been two months now and still no answer! Don't bother with this bank. There are plenty of other great lenders out there.

Price
2/10
Features
2/10
Convenience
1/10
Trust
1/10
Less
Aileen, Victoria reviewed about 2 months ago
Bankwest Premium Select Home Loan review
Overall 10/10
Makes owning a home so easy

A super friendly bank that makes owning a home so easy. Simple application process and great staff.

Read full review

A super friendly bank that makes owning a home so easy. Simple application process and great staff.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
8/10
Trust
10/10
Less
Mark, Victoria reviewed about 2 months ago

What do you need to apply for a Bankwest home loan?

To apply for a Bankwest home loan, you’ll need these details handy:

  • Personal details
  • Employment details
  • Financial details including income, assets and liabilities (i.e. loans with another financial institution)

If you are new to Bankwest and applying for a home loan in person, you’ll need to bring along a form of identification such as a passport or driver’s licence.

Once you’re ready for full approval, you may need to provide these documents depending on your situation:

  • Recent payslips displaying your employer’s name if you’re a PAYG employee and financial statements with tax returns for the last two years if you’re self employed
  • If you’re receiving any additional income such as rental income, government benefits or trust income, you’ll need to provide supporting documentation
  • Copy of signed Offer and Acceptance/Contract of Sale
  • Copy of signed building contract and plans and specifications
  • Recent home loans statements from another financial institution if you’re refinancing.


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