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. 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.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
|
6.09% p.a. |
8.19% p.a. |
$12.00 monthly |
$545 |
||
|
6.44% p.a. |
8.38% p.a. |
$12.00 monthly |
$545 |
||
|
6.69% p.a. |
8.45% p.a. |
$12.00 monthly |
$545 |
||
|
7.39% p.a. |
8.66% p.a. |
$12.00 monthly |
$545 |
||
|
7.19% p.a. |
8.95% p.a. |
$12.00 monthly |
$545 |
||
|
6.39% p.a. |
8.71% p.a. |
$12.00 monthly |
$545 |
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.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
|
6.34% p.a. |
6.36% p.a. |
$0.00 |
$250 |
||
|
6.54% p.a. |
6.56% p.a. |
$0.00 |
$250 |
||
|
7.14% p.a. |
7.16% p.a. |
$0.00 |
$250 |
||
|
8.77% p.a. |
8.79% p.a. |
$0.00 |
$250 |
||
|
6.29% p.a. |
6.31% p.a. |
$0.00 |
$250 |
||
|
6.49% p.a. |
6.51% p.a. |
$0.00 |
$250 |
||
|
6.89% p.a. |
6.91% p.a. |
$0.00 |
$250 |
||
|
7.89% p.a. |
7.91% p.a. |
$0.00 |
$250 |
||
|
6.44% p.a. |
6.46% p.a. |
$0.00 |
$250 |
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.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
|
6.49% p.a. |
7.31% p.a. |
$395.00 yearly |
$250 |
||
|
5.89% p.a. |
7.04% p.a. |
$395.00 yearly |
$250 |
||
|
6.24% p.a. |
7.14% p.a. |
$395.00 yearly |
$250 |
||
|
7.19% p.a. |
8.63% p.a. |
$395.00 yearly |
$250 |
||
|
6.99% p.a. |
7.97% p.a. |
$395.00 yearly |
$250 |
||
|
6.19% p.a. |
7.74% p.a. |
$395.00 yearly |
$250 |
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.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
|
7.14% p.a. |
7.50% p.a. |
$395.00 yearly |
$250 |
||
|
8.77% p.a. |
9.11% p.a. |
$395.00 yearly |
$250 |
||
|
6.99% p.a. |
7.35% p.a. |
$395.00 yearly |
$250 |
||
|
7.89% p.a. |
8.24% p.a. |
$395.00 yearly |
$250 |
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.
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.
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.
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.
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.
BankWest have been great to deal with in terms of customer service. The downside to using them is their lack of physical branches, meaning it can be tricky to deposit money free of charge. The wait time on phone lines is quite average (usually around 20-30 mins) but the customer care team are very friendly and happy to help.
Read full reviewBankWest have been great to deal with in terms of customer service. The downside to using them is their lack of physical branches, meaning it can be tricky to deposit money free of charge. The wait time on phone lines is quite average (usually around 20-30 mins) but the customer care team are very friendly and happy to help.
Every contact I have had with BankWest has been easy. I would recommend
Read full reviewEvery contact I have had with BankWest has been easy. I would recommend
Bankwest offers user-friendly digital services, competitive rates, and helpful customer support, making banking convenient. However, some may find limited branch locations a drawback. Be aware of potential fees and ensure their product offerings match your financial needs before committing. Overall, it's a solid choice for tech-savvy users.
Read full reviewBankwest offers user-friendly digital services, competitive rates, and helpful customer support, making banking convenient. However, some may find limited branch locations a drawback. Be aware of potential fees and ensure their product offerings match your financial needs before committing. Overall, it's a solid choice for tech-savvy users.
We like the bank due to our mortgage rate However one issue is no longer having branches
Read full reviewWe like the bank due to our mortgage rate However one issue is no longer having branches
All deal my with staff at BankWest are smooth, comprehensive, clear and trustworthy. Staff are extremely friendly, understanding and show compassion.
Read full reviewAll deal my with staff at BankWest are smooth, comprehensive, clear and trustworthy. Staff are extremely friendly, understanding and show compassion.
To apply for a Bankwest home loan, you’ll need these details handy:
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: