If you've ever wanted to design your own home loan and banking package, now's your chance with the Bankwest Complete Home Loan Package.
This flexible loan package lets you combine three of Bankwest's financial products into the one account. The package offers variable rate, fixed rate and equity loan options as well as the ability to link your Bankwest credit card and an offset account.
How does the Complete Home Loan Package work?
This is not a home loan, but rather is a package that allows you to combine your home loan, credit cards and offset account into one. When you select the type of Bankwest home loan you want, you then receive one of Bankwest's credit cards and also a Bankwest offset account. This package then charges you one combined annual fee for all three products.
Who is the loan suitable for?
This loan would be suitable to you if you already have or want to get a Bankwest credit card and offset account. This package lets you choose from a variety of loan options and as such there are options to suit most financial situations.
Features of the home loan
The Bankwest Complete Home Loan Package comes with some features that make it a viable option for borrowers to consider.
- Options. Bankwest lets you choose from variable rate, fixed rate or equity loan options with this package.
- Discounted interest rates. In return for paying the annual package fee you'll receive lower interest rates on your home loan. If you take out a Bankwest Variable Rate Home Loan you'll receive a discount on the standard variable rate of 0.80%p.a. for life. If you select the Equity Loan you'll receive a minimum discount of 0.70%p.a. on the standard variable rate for the lifetime of loan.
- Combine other financial products. You can combine your home loan, credit card and offset account into one package.
- Choice. Bankwest lets you choose the credit you want to associate with your account.
- Combined fees. The Complete Home Loan Package offers lower fees for all the products that are in your account, as well one annual fee for the whole account. You'll also enjoy lower fees for different features on the different home loans. Both the Variable Rate Home Loan and the Fixed Rate Home Loan come with free offset accounts and the Variable Rate Home Loan offers borrowers free access to funds.
Compare the available Bankwest credit card options
Fees you can and can't avoid
This package is a low fee option from Bankwest, but there are some fees you should be aware of before applying for this package.
Fees you can avoid
- You can avoid the loan portability fee of $350 by staying with this home loan.
- You can avoid the home loan access fee of $10 by not accessing the redraw facility on your loan.
- There are no application fees or loan maintenance fees.
- You won't have to pay for a property valuation.
Fees you can't avoid
- There is an annual fee of .
How to apply
If you are a new customer you can provide your details to Bankwest and a Bankwest lending specialist will get back to you. If you are an existing Bankwest customer you can apply through internet banking. When you apply you will need to provide the following:
- Personal details including contact details and date of birth
- Financial details including details of your income, assets and debts
- Your ongoing living expenses
To be eligible for this home loan package you need to meet the following criteria:
- You must be able to pay the annual package fee of
- Your initial home loan size must be at least
- You must hold an eligible home loan, a Bankwest More Platinum MasterCard or a Bankwest Qantas Platinum MasterCard and an Offset Transaction Account