Formerly the Bank of Western Australia, the Bankwest name was adopted in the mid-1990’s following its move to branch out and support customers across the entire nation. Bankwest joined the Commonwealth Bank Group in 2008, becoming part of Australia's largest bank.

What home loans does Bankwest offer?

Bankwest offers principal and interest (P&I) and interest-only (IO) home loans for both owner-occupiers and investors.

These home loans are available in variable and fixed interest rates under the options of:

  • Complete Fixed Package

  • Complete Variable Package

  • Fixed

  • Variable

Check out some of Bankwest’s home loan offerings for owner occupiers in the table below.

Update resultsUpdate
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.29% p.a.
6.31% p.a.
Principal & Interest
6.34% p.a.
6.36% p.a.
Principal & Interest
6.44% p.a.
6.46% p.a.
Principal & Interest
6.49% p.a.
6.51% p.a.
Principal & Interest
6.54% p.a.
6.56% p.a.
Principal & Interest
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Features of Bankwest home loans

Bankwest Chief Customer Officer Paul Vivian said Bankwest has a range of features to support current and aspiring homeowners in finding the home of their dreams, with a flexible product suite – from basic loans, through to complete packages – while offering flexibility on credit policy.

“We support customers in making their money work for them,” Mr Vivian told

“Our Complete Home Loan Package allows customers to utilise up to nine offset accounts on their variable home loan, and we're also one of the only lenders in Australia to offer a 40% offset product on fixed rate home loans.”

Complete Home Loan Package

For an annual package fee of $395, Bankwest customers can add a Complete Package to either fixed or variable rate home loans which offers:

  • Discounted variable interest rates.

  • The ability to split your money into up to nine offset accounts to help manage your money while saving on home loan interest.

  • Option to add an eligible credit card with no annual credit card fee.


Selected home loan products across Bankwest’s portfolio are free from application fees, plus monthly and establishment fees.

Redraw facility

If you have a variable rate home loan that only needs one person to authorise changes or payments, Bankwest’s redraw facility allows you to redraw your additional repayments through the Bankwest App or Bankwest Online Banking, and there's no minimum withdrawal amount.

Bankwest also allows other methods of redraw including over the counter with variable rate and fixed rate home loans, and there's no minimum withdrawal amount.

Payment schedule flexibility

Bankwest offers the flexibility across its home loan portfolio to make either, weekly, fortnightly or monthly mortgage repayments.

Additional repayments

Bankwest offers the ability to make unlimited extra repayments on variable rate home loans. For fixed home loans, you can make extra repayments of up to $10,000 per year.

Repayment holiday

Bankwest offers the ability to take a break from making your regular scheduled home loan repayments for a period of time. This could be useful if, say, you’re going on parental leave, taking a career break or changing jobs.

How is Bankwest different from the big four banks?

“Bankwest takes a personal, hands-on approach to ensure customers feel supported through one of the biggest financial decisions of their lives, particularly first home buyers, and those looking to build through our higher loan-to-value ratio (LVR) lending,” Mr Vivian said.

“We offer specialised pricing – right up to 98% LVR – and do our best to make the home loan process as stress-free and simple as possible for customers, with an end-to-end digital home loan application process for all aspects we control.”

Mr Vivian says Bankwest’s digital support extends beyond the home loan application process, through online banking and Bankwest’s mobile app.

Bankwest’s mobile app is available for both Apple and Android devices, offering the ability to set up savings goals, nickname and reorder accounts and bucket your money besides typical banking features such as cardless payments and PayID.

“We’re also proud of our strong relationship with brokers and we’ve worked hard to deliver tools and services that make their jobs as efficient as possible, ensuring customers have a great experience, no matter how they come to Bankwest,” Mr Vivian said.

Applying with Bankwest

“Bankwest supports those who own, or aspire to own, their own home, offering competitive rates for owner-occupier and investment loans, with flexible policies and fast loan approvals, with a personalised service through our case managers,” Mr Vivian said.

“We also support the communities in which we live and work, with our 24/7 contact centre and loan processing teams all based in Australia, putting us on the same timezone as customers and minimising delays due to international impacts.”


If you’re looking into applying for a Bankwest home loan, eligibility requirements that must be met include:

  • Applicants must be over the age of 18.

  • Applicants must be an Australian citizen or permanent resident.

  • Applicants must have a regular source of income.

  • Applicants must have a minimum loan amount of $200,000.

  • Good credit history.

  • Demonstrate your ability to service a loan.

Documents required

  • At least two forms of either driver's licence, Medicare card or passport.

  • One month’s worth of statements for your everyday bank account.

  • Debt statements - credit cards, store cards, car loans. The statements must be from the last 45 days and show your name, account number and transaction history.

  • 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.

  • Proof of ongoing rent or board.

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