Bankwest Equaliser Home Loan

Enjoy an interest rate discount compared to standard variable rates from three of the big four banks.

Bankwest’s Equaliser Home Loan offers an attractive interest rate discount for owner-occupiers. Owner-occupiers can receive a discount of 1.51% p.a. off the average of the standard variable rates (SVR) of Westpac, ANZ and NAB for the first three years of their loan, with a minimum rate of 2.50%.

Special Offer

Bankwest is currently waiving the application fee of $695 for any customer who applies for the Bankwest Equaliser Home Loan.

Terms and conditions may apply, visit the Bankwest website for details.

Bankwest changes to investment loans

Please note that Bankwest is now accepting standalone refinances for principal and interest investment loans from non-Bankwest customers.

For other terms and conditions please visit the Bankwest website for more details.

Interest Rate Max Insured LVR Max LVR
$200,000+ LVR 80% 3 year Intro Rate (Investor, P&I)
4.45% p.a.
Comparison Rate
4.62% p.a.
80% 80%
$200,000+ LVR 80% 3 year Intro Rate (Owner Occupier, P&I)
3.29% p.a.
Comparison Rate
3.77% p.a.
80% 80%
Product NameBankwest Equaliser Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$200,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR80%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Split Loan FacilityYes
Extra RepaymentYes
Repayment TypePrincipal & Interest
Application Fee$0
Lender's Legal Fee$0
Valuation Fee$0
Ongoing Fees$0 p.a.
Settlement Fee$250
Discharge Fee$164


  • No account keeping fee.
  • You can make extra payments at any time.


  • No offset account.
  • Maximum LVR of 80%.

Details to consider about the Bankwest Equaliser Home Loan

The main feature of the Bankwest Equaliser Home Loan is the 1.51% p.a. discount off the average of the standard variable rates offered by three of The Big Four (ANZ, Westpac and NAB). This average is calculated twice per month and a minimum rate of at least 2.50% p.a. will always apply, as do certain terms and conditions. This discount applies to owner-occupiers for the first three years of their loan. Once the three years are up, the interest rate reverts to Bankwest’s discounted standard variable rate, which is 1.10% p.a. lower than its standard variable rate.

Features of the Bankwest Equaliser Home Loan

There are plenty of other features that you should consider before deciding whether the Bankwest Equaliser Home Loan meets your needs. You need to consider the following features:

  • Loan amount. You must borrow at least $200,000.
  • Maximum Loan-to-Value Ratio (LVR). The Bankwest Equaliser Home Loan has a maximum LVR of 80%.
  • Flexible repayment options. You can choose a weekly, fortnightly or monthly repayment schedule. The loan is available with principal and interest repayments only.
  • Additional repayments allowed. The Bankwest Equaliser Home Loan permits unlimited additional repayments on your loan without any fees.
  • Free redraw facility. If you need to access your additional repayments, you can do so at any time through the loan’s free redraw facility. If you redraw using a method other than online, a $10 fee and a $1,000 minimum redraw limit will apply.
  • No ongoing fees. The Bankwest Equaliser Home Loan does not charge any ongoing monthly or annual service fees, and there are no termination fees.


  • Application fee: $0. This charge includes the legal fees for the preparation of your mortgage and one standard valuation fee.
  • Transfer fee: $135. This fee applies when you transfer to another loan.
  • Redraw fee: $10. This fee is only charged if you choose a redraw method other than online.

How to apply for the Bankwest Equaliser Home Loan

If you decide the Bankwest Equaliser Home Loan is right for you, go to Bankwest’s website and read the full terms and conditions of the loan. You can also submit an inquiry to find out whether you are eligible. In order to qualify for this loan, you will need to satisfy a few simple eligibility criteria:

  • Age. You must be at least 18 years old.
  • Residency. You must be a permanent Australian resident.
  • New loan. The discounted interest rate is available for new lending only.
  • Loan purpose. You must borrow at least $200,000 to fund the purchase of residential property, either as an owner-occupier or investor.
  • Deposit. As this loan has a maximum LVR of 80%, you will need to have a deposit equal to or greater than 20% of the purchase price.
  • Lending criteria. You must meet Bankwest's credit criteria.

You can contact Bankwest to discuss their Equaliser Home Loan three different ways:

  • Phone. You can get in touch with Bankwest via phone six days a week.
  • Make an appointment. Using a secure online form, you can book an appointment with a Bankwest Home Loan Specialist to discuss your lending needs in person.
  • Send an online inquiry. Fill out your name, address, contact details and any questions you have about the Equaliser Home Loan. A Bankwest Home Loan specialist will then get in touch to discuss your borrowing needs.

The Bankwest Equaliser Home Loan is well worth a look if you want a mortgage with a discounted variable rate and no ongoing fees. However, before you decide whether it’s right for you, make sure to compare all its features with other home loans.

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Bankwest Equaliser Home Loan

  • Interest Rate


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  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR


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