Bankwest Home Loans

Read on to compare some of Bankwest’s key home loan interest rates and the key features they have.

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Summary

About Bankwest

Bankwest was established in 1895 as the Agricultural Bank of Western Australia. It was formed by the WA state government to provide lending support to the state’s farming industry.

In 2008, Bankwest joined the Commonwealth Bank Group and has since become one of the largest financial institutions in Australia. Bankwest offers home loans, car loans, personal loans, credit cards, term deposit and savings accounts, and has stores and branches across Australia.

As of today, Bankwest has served more than 1 million customers.

What home loans does Bankwest offer?

Bankwest has a range of fixed and variable home loans to cater for first home buyers, next home buyers, refinancers, property investors and more.

Bankwest home loan interest rates

You can find a complete list of Bankwest’s home loan interest rates here.

Some of other Bankwest’s key home loan products include:

  • Complete Home Loan Package: A variable or fixed home loan package combined with a credit card and offset account.
  • Equaliser Home Loan: A standard home loan with a competitive interest rate.
  • Variable Rate Home Loan: A flexible home loan with a discounted variable rate and a 100% offset account.
  • Fixed-Rate Home Loan: A competitive fixed-rate home loan for one to five years.

Bankwest variable home loans

Provider Ad rate
p.a.
Comp rate*
p.a.
Monthly
repayments
 
Variable Rate Home Loan OO P&I 3.80% 3.82% $1,864 More details
Variable Rate Home Loan Inv P&I 4.40% 4.42% $2,003 More details
Ad rate
p.a.
Comp rate*
p.a.
Monthly
repayments
Variable Rate Home Loan OO P&I 90%
3.80% 3.82% $1,864
More details
Variable Rate Home Loan Inv P&I
4.40% 4.42% $2,003
More details

Base criteria of: a $400,000 loan amount, variable home loans with an LVR (loan-to-value) ratio of 90% or less. Introductory rate products were not considered for selection. This table includes only a snapshot of the lender’s products, not all of them. Monthly repayments were calculated based on the selected products’ advertised rates, applied to a $400,000 loan with a 30-year loan term. *Rates correct as at 4 October 2019.

Bankwest fixed home loans

Provider Ad rate
p.a.
Comp rate*
p.a.
Monthly
repayments
 
2yrs Fixed Rate OO P&I 4.03% 4.99% $1,917 More details
2yrs Fixed Rate Inv P&I 4.13% 5.53% $1,940 More details
Ad rate
p.a.
Comp rate*
p.a.
Monthly
repayments
2yrs Fixed Rate OO P&I
4.03% 4.99% $1,917
More details
2yrs Fixed Rate Inv P&I
4.13% 5.53% $1,940
More details

Base criteria of: a $400,000 loan amount, fixed home loans with an LVR (loan-to-value) ratio of 90% or less. Introductory rate products were not considered for selection. This table includes only a snapshot of the lender’s products, not all of them. Monthly repayments were calculated based on the selected products’ advertised rates, applied to a $400,000 loan with a 30-year loan term. *Rates correct as at 4 October 2019.

Bankwest home loan features

Bankwest offers a variety of home loan features, including:

  • Home Loan Application Tracker: When you apply for a Bankwest home loan, you can track your application in real-time
  • 100% Offset account: A number of Bankwest home loans come with an offset account for your convenience
  • Flexible payments: Variable-rate Bankwest loans allow you to make weekly, fortnightly, or monthly repayments as well as make extra repayments to pay off your loan faster
  • Redraw facility: Some Bankwest products have a redraw facility where you can redraw your excess funds from your loan.
  • Package benefits: Bankwest offers discounted home loan rates to customers that bundle their mortgage with a Bankwest credit card into one package.
  • Limited fees: Some Bankwest loans have no application, maintenance or annual fees.

How to apply for a Bankwest home loan

Eligibility criteria

To apply for a Bankwest home loan, you must meet their lending criteria:

  • You must be 18 years of age or older
  • You must be a permanent Australian resident
  • You must have a regular source of income
  • You must have a minimum loan size of $200,000

If you meet Bankwest’s eligibility criteria, you can apply:

  • Online
  • By making an appointment with a home finance manager online or calling 13 17 19
  • By visiting a Bankwest branch

Documents needed

Applying for a Bankwest home loan will require you to submit certain documents such as:

  • Proof of identity validating your name, address and birth date. This can be your passport, Medicare card, or driver’s license.
  • Details of your ongoing monthly expenses such as food expenses, childcare, clothing, transport, and many more.
  • If you are an employee, they will typically require two recent payslips, and the most recent payment summary or tax return.
  • If you are self-employed, they will typically require the last two years’ company tax returns.
  • Saving accounts statements.
  • Proof of ongoing rent or board.
  • Assets and liabilities documents.
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