Bankwest Fixed Rate Home Loan

3.99% p.a.

5.14% p.a.

$12.00 monthly

4.09% p.a.

5.40% p.a.

$12.00 monthly

Bankwest Fixed Rate Home Loan Review

Rates and fees information correct as at 5 December 2016.

Review published: 3 October 2014

What's hot:

  • Competitive 3.99% p.a. 3 year fixed rate

  • Optional offset facility to reduce interest

  • Low $295 application fee for a limited time - a saving of $400

What's not:

  • $12 monthly maintenance fee

Mozo snapshot:

With its competitive rates and top features like the offset facility which helps you to reduce your interest, no maximum loan amount and the ability to borrow up to 90% of the property value, the Bankwest Fixed Rate Home Loan is a great home loan choice for investors and owner occupiers alike, including first time buyers. The loan is available from 1 - 5 year fixed terms with Bankwest's lowest rate available for the 2 year fixed term at 3.79% p.a. for owner occupiers and 3.99% for investors.

Key features:

The Bankwest fixed rate home loan is available for loans of $20,000 or more. You can choose the fixed term that suits you from 1 up to 5 years and for a limited time the application fee is only $295 reduced from $695. There is also a $12 monthly maintenance fee.

One of the best features of the Bankwest Fixed Rate Loan is its optional offset facility which allows you to save on interest repayments via the Offset Transaction Account attached to your home loan. With the Fixed Rate Home Loan you can offset up to 40% of the loan amount and also make up to $10,000 in extra repayments per annum.

Good news is that you can time repayments to work with your pay cycle as you can choose between weekly, fortnightly and monthly repayments. Though if you take up the interest only option you’ll need to pay monthly.

Who it's good for:

Anyone who wants the certainty of knowing what their monthly repayments will be for a set period.


Any catches?

Be sure to mark in your calendar the end date of the fixed term as the Fixed Rate Home Loan reverts to the 5.35% variable rate for owner occupiers. Rather than rolling onto the standard revert rate, switch to a new fixed rate term or opt for one of Bankwest’s more competitive variable rate loans at the end of the fixed term.


How are Bankwest home loans rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
7.7

Based on 315
Bankwest home loans reviews

7.5 7.2 7.8 7.6 7.6

Read Bankwest home loan reviews by the Mozo community

Latest reviews of Bankwest Fixed Rate Home Loan

Bankwest

Bankwest Fixed Rate Home Loan (Owner Occupier) home loan review

Overall rating   10 / 10

Competitive products with great customer service

Feel very confident with Bankwest. Customer service always outstanding and have never had a problem. Competitive products and easy to use online function

Full review

Feel very confident with Bankwest. Customer service always outstanding and have never had a problem. Competitive products and easy to use online function

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   10 / 10

Less

Jason (VIC), reviewed 9 months ago

Bankwest

Bankwest Fixed Rate Home Loan (Owner Occupier) home loan review

Overall rating   8 / 10

Competitive rates and very good service

Competitive rates on both fixed and line of credit.Any issues are quickly sorted.

Full review

Competitive rates on both fixed and line of credit.Any issues are quickly sorted.

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

Less

Robert (QLD), reviewed about 1 year ago

Bankwest

Bankwest Fixed Rate Home Loan (Owner Occupier) home loan review

Overall rating   9 / 10

Great customer service

Switched 1 year ago from a major bank. Disheartened with that service. BWA has provided excellent customer service.

Full review

Switched 1 year ago from a major bank. Disheartened with that service. BWA has provided excellent customer service.

    Price   8 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Toni (WA), reviewed about 1 year ago

Bankwest

Bankwest Fixed Rate Home Loan (Owner Occupier) home loan review

Overall rating   4 / 10

Prompt to pass on interest rate cuts

I don't dislike the bank but the absence of more physical branches is a pain and inconvenient.

Full review

I don't dislike the bank but the absence of more physical branches is a pain and inconvenient.

    Price   6 / 10

    Features   4 / 10

    Customer service   4 / 10

    Convenience   3 / 10

    Trust   4 / 10

Less

Richard (NSW), reviewed over 1 year ago

Bankwest

Bankwest Fixed Rate Home Loan (Owner Occupier) home loan review

Overall rating   9 / 10

Excellent

Very satisfied with their services and products.

Full review

Very satisfied with their services and products.

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   9 / 10

Less

David (WA), reviewed over 1 year ago

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.

Currently showing

Rates

  • p.a.

  • p.a.

  • 0 Months

  • none

  • 4.31% (5.41%*)

  • 3.79% (5.22%*)

  • 3.99% (5.14%*)

  • 4.45% (5.20%*)

  • 4.08% (4.98%*)

  • (*)

  • (*)

  • 5.35% p.a.

Fees

  • $295.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $12.00 monthly

  • $338.20

Other financial bits

  • $20,000

  • none

  • none

  • 90.00%

Features

  • Weekly, Fortnightly, Monthly

  • yes - free up to $10,000 a year

  • none

  • no

  • none

  • yes

  • yes - partial only

  • Free extra repayments up to $10,000 per year. Offset facility is 40% only.

  • Monthly service fee only applies for the fixed period of the loan.

Rates

  • p.a.

  • p.a.

  • 0 Months

  • none

  • 4.51% (5.71%*)

  • 3.99% (5.51%*)

  • 4.09% (5.40%*)

  • 4.69% (5.48%*)

  • 4.08% (5.16%*)

  • (*)

  • (*)

  • 5.67% p.a.

Fees

  • $295.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $12.00 monthly

  • $338.20

Other financial bits

  • $20,000

  • none

  • none

  • 90.00%

Features

  • Weekly, Fortnightly, Monthly

  • yes - free up to $10,000 a year

  • none

  • no

  • none

  • yes

  • yes - partial only

  • Free extra repayments up to $10,000 per year. Offset facility is 40% only.

  • Monthly service fee only applies for the fixed period of the loan.

About Bankwest

Bankwest is the bank best known for Making Banking Easier, an initiative which aims to make banking a more positive experience. Originally from Western Australia, Bankwest has attracted thousands of customers around the country with its competitively priced products such as the TeleNet Saveraccount. In late 2008 the bank was bought by the Commonwealth Bank, who have promised to retain the Bankwest brand. So if you like the sound of Making Banking Easier, check out Bankwest's range of personal banking products including savings accounts, bank accounts, credit cards, home loans and more.

* 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.

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