7.7 / 10

based on 5885 Bankwest 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 21 April, 2021. 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 loan terms ranging from 1 to 5 years, available on amounts starting from $20,000, and you can borrow up to 90% of the property’s value whether you're an investor or an owner occupier. 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. While there is a monthly service fee, you’ll also be able to save on interest payments with the loan’s partial offset account 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

2.27% p.a.

4.28% p.a.

$12.00 monthly

$545

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

A variable rate home loan from Bankwest is a perfect fit if you are looking for home loan flexibility. You get a range of 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. Plus there are no application or ongoing service fees, and you'll be able to borrow up to 90-95% of the property value depending on whether you go with the Mortgage Shredder or Premium Select. 

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

$250

3.77% p.a.

3.79% p.a.

$0.00

$250

3.42% p.a.

3.69% p.a.

$0.00

$250

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.

4.04% p.a.

$0.00

$250

4.15% p.a.

4.17% p.a.

$0.00

$250

4.02% p.a.

4.04% p.a.

$0.00

$250

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 up to $10,000 p.a., a 40% offset account and the ability to match your repayments to your pay cycle. 

Home loan repayments calculator

years

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

2.07% p.a.

3.44% p.a.

$395.00 yearly

$250

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

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 standard 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, but you'll also 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 allow borrowers to do just through additional repayments. 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.

Image of coins

Accepts smaller deposits

Saved up only a small deposit? Both owner occupiers and investors can borrow up to 90-95% of their property value with Bankwest, although bear in mind you may need to pay Lenders Mortgage Insurance if you do so. 

How are Bankwest home loans rated?

Mozo users have rated Bankwest home loans 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

1144 Reviews

Recent Bankwest home loan reviews

Bankwest Home Loan review
Overall 1/10
First home loan.

This was the worst customer experience I’ve ever received in my life. Like someone said before "if you care about your mental health do not come to Bankwest!" I applied for a home loan with Bankwest and they rejected it. The guy that was handling our application was terrible! When I first went to meet him he provided us with information, we gave him all our details and lodged the application. The application took a long time and he was near impossible to get a hold of. He was always busy and never picked up his phone. The only way to reach him is if he reached out to you and wanted a document. He never gave us updates on our application, I was the one always calling Bankwest and finding out updates about our application. The night before the application was due he sent us an email! He didn’t even have the decency to call to say that more documents were needed. Why would you wait to tell us this the night before finance due date? When the due date came for our finance he said more time was needed... lies! When I called the next business day they told me that the application was denied on finance due date! To make it worse, he went on annual leave without telling us anything on the day our finance was due so we could not get a hold of him. He never communicated to us he was going on annual leave, he never told us our file would be handled by someone else. He just went away. Our file was handed over to someone and when I called the person to get updates on our application he didn’t even know anything about our application, he said to call him back in about 3 hours. So when I did call back he said the application was in fact denied but he couldn’t give me a reason as to why the application was denied. No one ever reached out to me to follow up. I’ve gone with Commonwealth now, best experience ever. Stay away from Bankwest.

Read full review

This was the worst customer experience I’ve ever received in my life. Like someone said before "if you care about your mental health do not come to Bankwest!" I applied for a home loan with Bankwest and they rejected it. The guy that was handling our application was terrible! When I first went to meet him he provided us with information, we gave him all our details and lodged the application. The application took a long time and he was near impossible to get a hold of. He was always busy and never picked up his phone. The only way to reach him is if he reached out to you and wanted a document. He never gave us updates on our application, I was the one always calling Bankwest and finding out updates about our application. The night before the application was due he sent us an email! He didn’t even have the decency to call to say that more documents were needed. Why would you wait to tell us this the night before finance due date? When the due date came for our finance he said more time was needed... lies! When I called the next business day they told me that the application was denied on finance due date! To make it worse, he went on annual leave without telling us anything on the day our finance was due so we could not get a hold of him. He never communicated to us he was going on annual leave, he never told us our file would be handled by someone else. He just went away. Our file was handed over to someone and when I called the person to get updates on our application he didn’t even know anything about our application, he said to call him back in about 3 hours. So when I did call back he said the application was in fact denied but he couldn’t give me a reason as to why the application was denied. No one ever reached out to me to follow up. I’ve gone with Commonwealth now, best experience ever. Stay away from Bankwest.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Rhodaa, Western Australia, reviewed 2 days ago
Bankwest Home Loan review
Overall 10/10
Excellent service

We were already customers but were suggested by a broker that the Bankwest Home Loan was the best one for us and what we needed. We were happy with the rate, service all of the benefits we were offered.

Read full review

We were already customers but were suggested by a broker that the Bankwest Home Loan was the best one for us and what we needed. We were happy with the rate, service all of the benefits we were offered.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Janine, Western Australia, reviewed about 1 month ago
Bankwest Home Loan review
Overall 10/10
Bankwest is the best.

I have been banking with Bankwest for many many years now and I just cant fault them anywhere!

Read full review

I have been banking with Bankwest for many many years now and I just cant fault them anywhere!

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Kristy, Victoria, reviewed 3 months ago
Bankwest Complete Variable Home Loan (Package) review
Overall 6/10
It’s a good bank to get into the home loan market.

Bankwest isn’t a bad bank, however the closest branch to me is an hour away and online and over the phone service is average.

Read full review

Bankwest isn’t a bad bank, however the closest branch to me is an hour away and online and over the phone service is average.

Price
7/10
Features
7/10
Customer service
4/10
Convenience
7/10
Trust
5/10
Less
Amanda, Queensland, reviewed 3 months ago
Bankwest Complete Variable Home Loan (Package) review
Overall 10/10
Great bank, products and services.

Great products and service always. Have negotiated with our financial advisor to drop our interest rates as soon as there’s been a change in them. Bit disappointed that we can’t take advantage of the latest changes - apparently we don’t have enough equity in our house to warrant the rate cut. I would have thought we’re very good candidates for this as it would mean we’d free up some money and be able to pay extra off mortgage!

Read full review

Great products and service always. Have negotiated with our financial advisor to drop our interest rates as soon as there’s been a change in them. Bit disappointed that we can’t take advantage of the latest changes - apparently we don’t have enough equity in our house to warrant the rate cut. I would have thought we’re very good candidates for this as it would mean we’d free up some money and be able to pay extra off mortgage!

Price
8/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Jacqueline, Western Australia, reviewed 3 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 few forms of identification such as a passport, driver’s licence and birth certificate. You'll also be able to apply online with Bankwest's electronic ID check. 

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 financial 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 your fully signed offer and acceptance/contract of sale (if you're buying a property) 
  • Copy of the fully signed building contract and our plans and specifications (if you're building) 
  • Six months' of your recent home loan statements from your other financial institution (if you’re refinancing). 


Home loan quick links