based on 5915 Bankwest banking product reviews as rated by Mozo community

Bankwest personal loans

Bankwest was launched 120 years ago by the WA Government to provide financial services to farmers within the state. Originally dubbed the Agricultural Bank of Western Australia, Bankwest didn’t receive its name until 1994. In 2008, Bankwest merged under the umbrella of big four bank the Commonwealth Bank and the rest is history.

Fun fact: Bankwest is an abbreviation for Bank of Western Australia.
Bankwest has a range of personal loans on offer to suit everyone from borrowers looking for a loan to fund their new car purchase to those wanting to consolidate debt or pay for a home renovation. Read our Bankwest personal loans guide below to see if this major player is the right borrowing match for you:

Bankwest offers the following personal loans

Rates and fees verified as correct at 18 September, 2021. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee
Car Loan (Fixed, Secured)

6.99% p.a.

7.34% p.a.based on $30,000
over 5 years

$0

Unsecured Personal Loan (Fixed)

8.99% p.a.

9.33% p.a.based on $30,000
over 5 years

$0

What personal loans do Bankwest offer?

Unsecured personal loan

With Bankwest’s unsecured loan you can borrow between $5,000 and $50,000 and choose a term that falls between 3-7 years. The interest rate attached to the loan is fixed, meaning your rate won’t change over the life of the loan. While this is Bankwest’s no frills option it does come with a bit of flexibility allowing you to choose whether you will repay your loan weekly, fortnightly or monthly and you’ll also get an extra repayments facility meaning you can put spare cash to good use by paying off the loan early. But keep in mind repaying the loan before 24 months has passed will result in an early repayment penalty of a few hundred dollars.

Flexible personal loan

As the name suggests, this personal loan comes with plenty of flexibility. You’ll have the ability to deposit additional payments into your loan thanks to the fee free extra repayments feature, without the slap of an early repayment fee if you try to pay it out early and the redraw facility means you’ll have the option of drawing upon those extra repayments. On top of these great features, the flexible personal loan from Bankwest also allows you to set up your repayments on a cycle that suits you (e.g weekly, fortnightly or monthly). But you’ll pay for all this flexibility in the form of a higher interest rate and application fee. Just like the unsecured option, the flexible personal loan from Bankwest lets you borrow an amount from $5k-$50k, however the minimum term is lower at 1 year (maximum 7 years).

Car loan

If you’re a borrower looking for a means to fund your upcoming car purchase, there’s also a car loan available from Bankwest. While you can choose a term that sits between 3 to 7 years, one of the biggest drawcards of Bankwest’s car loan is the high maximum limit, allowing you to borrow up to a whopping $100,000 (minimum $10,000). Generous when you consider many providers put caps on their car loans of up to $50,000. Like the personal loan options from Bankwest, the car loan comes with a fixed interest rate providing repayment certainty and you can set your repayments up weekly, fortnightly or monthly.

Bankwest personal loan features at a glance

How do you apply for a Bankwest personal loan?

Once you’ve decided Bankwest is your borrowing match, you can apply for one of its loans online. Here are some of the details you’ll need to provide:

How are Bankwest personal loans rated?

Mozo users have rated Bankwest personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of personal-loans
Bankwest personal loans
Overall
Price
Features
Customer service
Convenience
Trust

172 Reviews

Recent Bankwest personal loan reviews

Bankwest Unsecured Personal Loan
Overall 1/10
Age discrimination.

Having been a loyal customer for over 52 years. Never overdue with any repayments on any loans. Running a multi million dollar business with them. Investing my SMSF with them now that I am 70. I have a great credit rating. I asked for a small personal loan for a short term while I was buying a new home and had not sold my existing home. They refused and told me to ask my accountant to change the figures on my Superfund statement. Is that legal??? Anyway I have just sold my house and my funds will not be invested with them. Changing banks out of principal. I feel They discriminated against me because of my age. I personally brought 2 teen grandchildren to them to start a savings account. I have 10 more grandchildren. Guess what. Don’t go to Bankwest.

Read full review

Having been a loyal customer for over 52 years. Never overdue with any repayments on any loans. Running a multi million dollar business with them. Investing my SMSF with them now that I am 70. I have a great credit rating. I asked for a small personal loan for a short term while I was buying a new home and had not sold my existing home. They refused and told me to ask my accountant to change the figures on my Superfund statement. Is that legal??? Anyway I have just sold my house and my funds will not be invested with them. Changing banks out of principal. I feel They discriminated against me because of my age. I personally brought 2 teen grandchildren to them to start a savings account. I have 10 more grandchildren. Guess what. Don’t go to Bankwest.

Price
1/10
Less
Hennie, Western Australia, reviewed 3 months ago
Bankwest Personal Loan
Overall 1/10
Be careful with this bank

Be really careful with this bank because when you ask for an international transfer of money and the transfer doesn't reach the international account they stole your money. They send the money in France, after telling me that they check every details and everything is Okey for the Transfer, finally two days after I've git a letter from Bankwest who told me that the money doesn't reach the French account because thy don't accept money from outside of the Europe area and I will have my money back If I accept to loose 467 dollars, of course I don't not accept to pay the price of their mistakes, and till that day, two weeks ago, I don't have any money and they don't give me any solution accept to put the blame on someone else.

Read full review

Be really careful with this bank because when you ask for an international transfer of money and the transfer doesn't reach the international account they stole your money. They send the money in France, after telling me that they check every details and everything is Okey for the Transfer, finally two days after I've git a letter from Bankwest who told me that the money doesn't reach the French account because thy don't accept money from outside of the Europe area and I will have my money back If I accept to loose 467 dollars, of course I don't not accept to pay the price of their mistakes, and till that day, two weeks ago, I don't have any money and they don't give me any solution accept to put the blame on someone else.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Betty, Western Australia, reviewed 2 months ago
Bankwest Unsecured Personal Loan
Overall 7/10
I would recommend the bank.

I liked the bank because when I bought my house I needed to borrow 98% and Bankwest was happy to do this.

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I liked the bank because when I bought my house I needed to borrow 98% and Bankwest was happy to do this.

Price
8/10
Features
7/10
Customer service
8/10
Convenience
7/10
Trust
10/10
Less
Antje, Western Australia, reviewed 11 months ago
Bankwest Unsecured Personal Loan
Overall 8/10
Fantastic bank

The team at the bank are full of smiles and always friendly. Very helpful when I need something done or changed.

Read full review

The team at the bank are full of smiles and always friendly. Very helpful when I need something done or changed.

Price
7/10
Features
6/10
Customer service
8/10
Convenience
7/10
Trust
8/10
Less
Steven, New South Wales, reviewed about 1 year ago

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