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Bankwest Fixed Rate Home Loan

The details shown below are for an owner occupier taking out a principal & interest loan of at least $20,000 with an LVR below 90%

The details shown below are for an owner occupier taking out a interest only loan of at least $20,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan of at least $20,000 with an LVR below 90%

The details shown below are for an investor taking out a interest only loan of at least $20,000 with an LVR below 80%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 90%

    Loan: $20,000

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $20,000

  • Investor (Principal & Interest)

    LVR < 90%

    Loan: $20,000

  • Investor (Interest Only)

    LVR < 80%

    Loan: $20,000

Fixed 3 year rate
2.53% p.a.
Comparison Rate*
4.24% p.a.
Service fee
$12.00 monthly
Upfront fee
$545
Fixed 3 year rate
3.59% p.a.
Comparison Rate*
4.88% p.a.
Service fee
$12.00 monthly
Upfront fee
$545
Fixed 3 year rate
2.69% p.a.
Comparison Rate*
4.75% p.a.
Service fee
$12.00 monthly
Upfront fee
$545
Fixed 3 year rate
3.19% p.a.
Comparison Rate*
5.08% p.a.
Service fee
$12.00 monthly
Upfront fee
$545

Mozo editorial review Bankwest Fixed Rate Home Loan

Last updated: 4 June 2020.

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What's hot
  • Competitive 2.44% p.a. 2 year fixed rate (4.39% comparison 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 2.44% p.a. (4.39% comparison rate*) for owner occupiers and 2.39% for investors (5.09% comparison rate*). 

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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.

snapshot
Who is it good for

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


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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 4.75% 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.


Details

Rates and fees information correct as at 20 October 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • n/a

  • n/a

  • n/a

  • n/a

  • 3.09% (4.77%*)

  • 2.44% (4.39%*)

  • 2.53% (4.24%*)

  • 3.49% (4.50%*)

  • 3.29% (4.34%*)

  • n/a

  • n/a

  • 4.75% p.a.

Fees
  • $295.00

  • $0.00

  • $0.00

  • $250.00

  • n/a

  • $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

  • yes - free

  • $1,000.00

  • 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.

  • none

*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.

Details

Rates and fees information correct as at 20 October 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • n/a

  • n/a

  • n/a

  • n/a

  • 3.79% (5.15%*)

  • 3.79% (5.04%*)

  • 3.59% (4.88%*)

  • 3.99% (4.90%*)

  • 3.99% (4.82%*)

  • n/a

  • n/a

  • 5.10% p.a.

Fees
  • $295.00

  • $0.00

  • $0.00

  • $250.00

  • n/a

  • $12.00 monthly

  • $338.20

Other financial bits
  • $20,000

  • none

  • none

  • 80.00%

Features
  • Monthly

  • yes - free up to $10,000 a year

  • none

  • yes - free

  • $1,000.00

  • 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.

  • none

*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.

Details

Rates and fees information correct as at 20 October 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • n/a

  • n/a

  • n/a

  • n/a

  • 3.39% (5.38%*)

  • 3.39% (5.09%*)

  • 2.69% (4.75%*)

  • 3.79% (5.02%*)

  • 3.49% (4.79%*)

  • n/a

  • n/a

  • 5.40% p.a.

Fees
  • $295.00

  • $0.00

  • $0.00

  • $250.00

  • n/a

  • $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

  • yes - free

  • $1,000.00

  • 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.

  • none

*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.

Details

Rates and fees information correct as at 20 October 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • n/a

  • n/a

  • n/a

  • n/a

  • 3.69% (5.53%*)

  • 3.69% (5.36%*)

  • 3.19% (5.08%*)

  • 3.99% (5.17%*)

  • 3.89% (5.02%*)

  • n/a

  • n/a

  • 5.53% p.a.

Fees
  • $295.00

  • $0.00

  • $0.00

  • $250.00

  • n/a

  • $12.00 monthly

  • $338.20

Other financial bits
  • $20,000

  • none

  • none

  • 80.00%

Features
  • Monthly

  • yes - free up to $10,000 a year

  • none

  • yes - free

  • $1,000.00

  • 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.

  • none

*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.

Customer Reviews

How are Bankwest home loans rated by the Mozo community?

Overall
7.1/10
Price
7.1/10
Features
6.5/10
Customer service
7.1/10
Convenience
7.1/10
Trust
6.9/10

Latest reviews of Bankwest Fixed Rate Home Loan

  • 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
    Features
    -1/10
    Customer service
    10/10
    Convenience
    5/10
    Trust
    10/10
    Less
    Lorraine, Victoria reviewed 29 days ago
  • Overall 0/10
    Bankwest worst bank ever

    Bankwest is the worst bank I have ever been and dealt with. I have a home and investment property. Since I've been with Bankwest I have had nothing but problems. I'm now considering selling the investment property just to get away from this bank, I've looked into breaking the loan but the break costs are ridiculous at a cost of $15,000 to get out of my loans. Honestly stay away from Bankwest

    Read full review

    Bankwest is the worst bank I have ever been and dealt with. I have a home and investment property. Since I've been with Bankwest I have had nothing but problems. I'm now considering selling the investment property just to get away from this bank, I've looked into breaking the loan but the break costs are ridiculous at a cost of $15,000 to get out of my loans. Honestly stay away from Bankwest

    Price
    0/10
    Features
    0/10
    Customer service
    0/10
    Convenience
    0/10
    Trust
    0/10
    Less
    Leeann, South Australia reviewed 4 months ago
  • Overall 10/10
    Fantastic bank.

    Great and easy to deal with. Never a hassle banking with Bankwest.

    Read full review

    Great and easy to deal with. Never a hassle banking with Bankwest.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Jon, New South Wales reviewed 4 months ago
  • Overall 7/10
    Great product just not enough office locations.

    The home loan is ok, however they don't have many branches.

    Read full review

    The home loan is ok, however they don't have many branches.

    Price
    7/10
    Features
    7/10
    Customer service
    5/10
    Convenience
    5/10
    Trust
    7/10
    Less
    Andrew, Queensland reviewed 11 months ago
  • Overall 9/10
    Friendly helpful staff who give you a go.

    I like this bank because they are friendly and understanding. One of the only banks to give us a go with a home loan.

    Read full review

    I like this bank because they are friendly and understanding. One of the only banks to give us a go with a home loan.

    Price
    7/10
    Features
    5/10
    Customer service
    7/10
    Convenience
    8/10
    Trust
    9/10
    Less
    Tarryn, Western Australia reviewed 11 months ago
Bankwest

About Bankwest

Bankwest is all about making your finances simple. Originally from Western Australia, Bankwest has attracted thousands of customers around the country with its competitively priced products such as the Hero Saver. In late 2008 the bank was bought by the Commonwealth Bank, which has promised to retain the Bankwest brand. So if you like the sound of simple banking, check out Bankwest's range of personal banking products including savings accounts, bank accounts, credit cards, home loans and more.

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*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.