Bankwest home loans

Bankwest
Bankwest's overall rating for home loans

(as rated by the Mozo community)

7.7 / 10

based on 315 reviews

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.

Rates and fees verified as correct at 05 December, 2016. Other information correct at the time of writing.

What home loans do Bankwest offer?

Fixed Rate Home Loans 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 ‡

4.09% p.a.

5.40% p.a.

$12.00 monthly

$295

3.99% p.a.

5.14% p.a.

$12.00 monthly

$295


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Variable Rate Home Loans 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 ‡

5.67% p.a.

5.72% p.a.

$0.00

$695

5.35% p.a.

5.40% p.a.

$0.00

$695

4.49% p.a.

4.50% p.a.

$0.00

$0

4.14% p.a.

4.15% p.a.

$0.00

$0

4.29% p.a.

4.30% p.a.

$0.00

$0

4.02% p.a.

4.03% p.a.

$0.00

$0


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Fixed Package Home Loan 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 ‡  

3.99% p.a.

4.68% p.a.

$395.00 yearly

$150

Go to site

3.99% p.a.

4.54% p.a.

$395.00 yearly

$150

3.89% p.a.

4.32% p.a.

$395.00 yearly

$150

Go to site

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Variable Package Home Loan 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 ‡  

4.39% p.a.

4.79% p.a.

$395.00 yearly

$150

4.34% p.a.

4.74% p.a.

$395.00 yearly

$150

3.85% p.a.

4.26% p.a.

$395.00 yearly

$150

Go to site

4.19% p.a.

4.60% p.a.

$395.00 yearly

$150

3.92% p.a.

4.33% p.a.

$395.00 yearly

$150


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Line of Credit Line of Credit

Product Rate Comparison Rate* Service fee Upfront fee

5.33% p.a.

n/a

$325.00 yearly

$150

5.33% p.a.

n/a

$325.00 yearly

$150

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Bankwest home loan features in a glance

Offset facilityOffset 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.

Split your loanSplit 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.

Additional repaymentsAdditional 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.

Online-exclusive home loanOnline-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?

To help you choose the right home loan, thousands of Australians have hopped on their computers, phones and tablets to review their mortgage provider on everything from price, features and convenience to customer service. Here’s how Bankwest home loans scored in those categories.

Bankwest home loans

Overall 7.7*

Price

Features

Customer service

Convenience

Trust

315 Reviews

* Overall rating based on reviews in the past 12 months.

Recent Bankwest home loan reviews Recent Bankwest home loan reviews

Bankwest

Bankwest home loan review

Overall rating   7 / 10

Fair rates and great customer service

They have fair rates and great service. There could be more ATMs around. Sometimes we go into the branch and ask for them to increase our payment amount or request something similar, but this can take a few visits for them to do.

Full review

They have fair rates and great service. There could be more ATMs around. Sometimes we go into the branch and ask for them to increase our payment amount or request something similar, but this can take a few visits for them to do.

    Price   8 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   5 / 10

    Trust   7 / 10

Less

Amanda (NSW), reviewed about 1 month ago

Bankwest

Bankwest Premium Select (LVR<80%, Owner Occupier) home loan review

Overall rating   8 / 10

Great customer service

A great home loan from a bank that has amazing customer service. When dealing with this much money, customer service is the most important aspect of a bank's services in my opinion.

Full review

A great home loan from a bank that has amazing customer service. When dealing with this much money, customer service is the most important aspect of a bank's services in my opinion.

    Price   8 / 10

    Features   7 / 10

    Customer service   9 / 10

    Convenience   8 / 10

    Trust   9 / 10

Less

Ashley (SA), reviewed about 1 month ago

Bankwest

Bankwest Complete Fixed Home Loan (LVR<90%, Owner Occupier) (Package) home loan review

Overall rating   10 / 10

Excellent customer service!!

Bank manager always willing to help even in short notice. They are very accommodating to each individual's situation.

Full review

Bank manager always willing to help even in short notice. They are very accommodating to each individual's situation.

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Marinda (WA), reviewed 4 months ago

Bankwest

Bankwest Complete Fixed Home Loan (LVR<90%, Owner Occupier) (Package) home loan review

Overall rating   2 / 10

Poor customer service

Communication difficulties

Full review

Communication difficulties

    Price   3 / 10

    Features   3 / 10

    Customer service   3 / 10

    Convenience   2 / 10

    Trust   2 / 10

Less

Leah (QLD), reviewed 4 months ago

Bankwest

Bankwest Complete Variable Home Loan (LVR<90%, Owner Occupier) (Package) home loan review

Overall rating   9 / 10

No fuss, quick, simple & easy to understand

The whole process was quick, simple and easy to understand. Finance was in place on time with no fuss.

Full review

The whole process was quick, simple and easy to understand. Finance was in place on time with no fuss.

    Price   9 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Paul (WA), reviewed 4 months ago

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Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

* The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

‡ 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.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

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