Bankwest Fixed Rate Home Loan

Rates and Fees verified correct on October 26th, 2016

Enjoy the stability of a fixed interest rate with the savings of an optional offset account

The Bankwest Fixed Rate Home Loan is a full-featured fixed rate home loan with terms ranging between one to five years. It also comes with other benefits, such as a partial offset account and the ability to make extra repayments of up to $10,000 per year.

A fixed interest rate provides the certainty of knowing what your monthly repayments will be, helping you budget and get used to paying off a mortgage. If you decide to link a partial offset account to this loan, this can help you save on interest payments.

$295 application fee for a limited time

For a limited time only, Bankwest has also reduced the application fee for this loan from $695 to $295, saving you $400.

Interest Rate Max Insured LVR Max LVR
1 Year Fixed Rate (Investors)
4.51% p.a.
Comparison Rate
5.59% p.a.
90% 80%
1 Year Fixed Rate (Owner Occupiers)
4.31% p.a.
Comparison Rate
5.28% p.a.
90% 80%
2 Year Fixed Rate (Owner Occupiers)
3.79% p.a.
Comparison Rate
5.10% p.a.
90% 80%
2 Year Fixed Rate (Investors)
3.99% p.a.
Comparison Rate
5.40% p.a.
90% 80%
3 Year Fixed Rate (Owner Occupiers)
3.99% p.a.
Comparison Rate
5.04% p.a.
90% 80%
3 Year Fixed Rate (Investors)
4.09% p.a.
Comparison Rate
5.29% p.a.
90% 80%
4 Year Fixed Rate (Owner Occupiers)
4.45% p.a.
Comparison Rate
5.10% p.a.
90% 80%
4 Years Fixed Rate (Investors)
4.69% p.a.
Comparison Rate
5.39% p.a.
90% 80%
5 Years Fixed Rate (Investors)
4.08% p.a.
Comparison Rate
5.07% p.a.
90% 80%
5 Year Fixed Rate (Owner Occupiers)
4.08% p.a.
Comparison Rate
4.89% p.a.
90% 80%
Product NameBankwest Fixed Rate Home Loan
Interest Rate TypeFixed
Comp Rate^ (p.a.)
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR90%
Mortgage Offset AccountYes
Mortgage 100% OffsetNo
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$295
Lender's Legal Fee$0
Valuation Fee$0
Ongoing Fees$12 monthly ($144 p.a.)


  • You can pay additional repayments per year during the fixed term without penalty
  • Partial offset available during the fixed term
  • You can borrow up to 90% of the property value


  • A $295 application fee applies
  • A $12 monthly account fee applies

Things to consider about the Bankwest Fixed Rate Home Loan

This loan is suitable for purchasing, refinancing or constructing your residential or investment property. Even if you’re an existing Bankwest customer and want to refinance your current Bankwest home loan, you can still apply.

Features of the Bankwest Fixed Rate Home Loan

  • Loan amount. You can borrow up to 90% of the property's value with this loan.
  • Optional partial offset account. You can link an optional 40% offset facility to this home loan. $9 monthly account maintenance fee applicable on the expiry of the fixed term.
  • Fixed term. You have the option of a fixed rate for one to five years.
  • Additional repayments allowed. You can make extra repayments of up to $10,000 a year with this loan. Fixed rate break costs may apply if additional repayments exceed $10,000 p.a.
  • Repayments. You can choose from weekly, fortnightly or monthly repayments to help you manage your budget. There’s also the option of choosing interest and principal or interest-only repayments. Though if you take up the interest-only option you’ll need to pay monthly.
  • Portability. If you’re moving properties and would like to bring your loan with you, you can using the portability feature. Please note a fee applies (see below).
  • Redraw facility. If you made additional repayments and need to access those funds, you can access them through the redraw facility. Please note a fee applies (see below).
  • Optional home and contents insurance. You get a 5% discount if you combine your building and contents insurance under the same policy with Bankwest’s insurance partner, Vero Insurance.


  • Transfer fee. $95. This fee covers a transfer to another home loan product.
  • Portability fee. $350. If you move to a new property and want to take your loan with you, this fee will be charged.
  • Home loan access fee. $10 per redraw. If you would like to access any additional repayments you’ve made through the redraw facility, this fee is charged.
  • Standard home loan application fee. $295* for limited time. This fee is charged by lenders to handle your loan application, usually charged upfront.
  • Loan maintenance fee. $12 per month. This is to cover the cost of maintaining your home loan account.

*This is the reduced application fee for a limited time only (usually $695).

The Bankwest offset transaction account

Sample Image

As mentioned, this home loan gives you the option to link a partial offset account to it to help reduce interest. Opting for this account will give you a Bankwest Debit MasterCard or Platinum Debit MasterCard to access your funds. You'll be able to access the funds in your offset account at Bankwest and CBA ATMs, and you'll get unlimited electronic and over-the-counter transactions. Keep in mind that there may be ATM access fees depending on what ATM machine you use.

How to apply for this home loan

If you’re an existing Bankwest customer, you can apply for this loan through internet banking. If you’re a new customer please read the following information carefully.


  • You need to be over 18 years old
  • You need a be a permanent Australian resident
  • You must agree to Bankwest conducting a credit check
  • You must agree to be contacted by Bankwest through email regarding your application


  • You’ll need your Driver’s Licence number (if you have one) along with your date of birth, address and contact details
  • Your employment details (two of your latest payslips displaying your employer’s name), including contact details and the length of your employment
  • Your financial details, including income (including any Centrelink benefits, expenses and any assets you may have)
  • If self employed, you’ll need to provide financial statements with tax returns for the last two years
  • If refinancing from another bank, the last six months’ statements from your original loan

Frequently asked questions about the Bankwest Fixed Rate Home Loan

What is a partial offset account?

In a 100% offset account, each dollar offsets a dollar on your home loan. This means $40,000 in a 100% offset account will reduce the amount your home loan interest is calculated on by $40,000. A partial offset reduces the interest payable by an amount lower than 100%. In the case of the Bankwest Fixed Rate Home Loan, this is 40%.

How long will it take for my loan to be approved?

Once you've submitted all required information and documentation, Bankwest will usually approve your loan within five working days. If they require further documentation, these five days will begin once you've supplied the required documents.

What happens once the fixed term ends?

Once the fixed term ends your rate will revert to the Bankwest Standard Variable Rate.

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Bankwest Fixed Rate Home Loan Interest Rate History vs RBA Cash Rate Graph

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This page was last modified on 4 May 2016 at 10:12.

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4 Responses to Bankwest Fixed Rate Home Loan

  1. Default Gravatar
    Tim | April 8, 2015

    I am renegotiating my home loan with ANZ and am considering moving over to Bank West. Would Bankwest accept the ANZ property valuation done 12 months ago, or would we have to pay for a new valuation by Bank West ?

    • Staff
      Marc | April 9, 2015

      Hi Tim,
      thanks for the question.

      Bankwest will require another valuation to be carried out, but please note that the cost of one standard valuation is included in the application fee, so there’s no additional fees for this required.


  2. Default Gravatar
    Egon | February 1, 2015

    would Bank West consider reversing a reverse mortgage loan to a home loan

    • Staff
      Shirley | February 2, 2015

      Hi Egon,

      Thanks for your question.

      Bankwest will need to assess your current and financial situation to make a decision. Please also note that this process will require you to refinance.

      It’s advisable for you to speak to Bankwest directly about your eligibility and options.


Bankwest Fixed Rate Home Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $295 / $12

  • Max LVR


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