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Bankwest home loans

Bankwest has home loans for owner-occupiers and investors, with rates starting from 6.49%.

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Bankwest is an Australian financial institution owned by Commonwealth Bank. Bankwest has home loans for investors and owner-occupiers, including fixed and variable rates, plus package loans. Check out the full table of Bankwest products below or read more about the lender and its loans.

Compare Bankwest home loans for April 2024

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Name Interest Rate p.a. Comparison Rate p.a. Fees Monthly Payment
Principal & Interest 3Y Fixed10% min. depositInvestmentOffset account
Interest Rate
6.49%
Comparison Rate
7.84%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$948
Principal & Interest 3Y Fixed10% min. depositOwner-occupierOffset account
Interest Rate
6.49%
Comparison Rate
7.22%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$948
Principal & Interest10% min. depositOwner-occupierOffset account$200k+
Interest Rate
6.99%
Comparison Rate
7.37%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$998
Principal & Interest 1Y Fixed10% min. depositInvestmentOffset account
Interest Rate
6.79%
Comparison Rate
8.13%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$978
Principal & Interest 1Y Fixed10% min. depositOwner-occupierOffset account
Interest Rate
6.79%
Comparison Rate
7.35%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$978
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Bankwest key facts

  • Bankwest's most competitive rates are its package home loans, so if you want to bundle your loan with an offset account and a credit card, it's a good option to consider.
  • Bankwest is owned by the Commonwealth Bank and has strong online support plus a branch network. Check to see if there's a branch near you.
  • You can get many Bankwest home loans with just a 10% deposit saved.
  • In addition to home loans, Bankwest also offers savings accounts, credit cards and more.

Review by our senior home loans writer Richard Whitten

Bankwest home loan features

Here are the key features and details you need to know about Bankwest's mortgage products.

FeatureDetails
Minimum depositSome Bankwest home loans are available with a 10% deposit (90% max insured LVR), including some of its most competitive rates.
Offset account?Bankwest's package loans come with offset accounts.
FeesBankwest loans have very low fees, including no application or ongoing fees. This could save you hundreds of dollars in loan costs.
Repayment optionsBoth Bankwest's fixed and variable rate loans allow you to make interest-only repayments for a limited period. The lender also offers the standard principal-and-interest repayments on its loans.
Package benefitsThe Bankwest Complete Home Loan Package lets you combine a credit card, mortgage and transaction account (with offset) for one annual fee.

How do I apply for a Bankwest mortgage?

When applying for any home loan, you will need various documents to establish your identity, your financial situation, employment status and details about the property.

Eligibility

Each Bankwest product has specific eligibility criteria but some will apply to all products. For example:

  • Age. You must be over 18 years of age.
  • Residency. You should be a resident of Australia.
  • Employment. You should have a regular source of income.

Documents required

When you apply for a mortgage with Bankwest you are required to provide certain information, so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:

📄 Property details. You can start a loan enquiry before you've bought a property. But to complete an application you need the address of the property and a signed contract of sale.

📄 Identification documents. You will need identification such as a driver's licence, passport or birth certificate.

📄 Proof of income documents. Recent payslips can establish your income.

📄 Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).

How to apply for a home loan

Lenders like Bankwest

If you want to compare loans from lenders similar to Bankwest then you could look at the Big Four or some of Australia's other mid-sized lenders.

  • Big Four banks. Check out home loans from Australia's Big Four banks.
  • AMP. AMP is a large Australian lender and financial services provider.
  • Suncorp Bank. This Queensland-based lender also provides insurance and superannuation services.
  • Macquarie Bank. This retail and investment bank is one of Australia's largest.
  • Bank of Queensland. One of the country's largest banks after the Big Four.
  • ING. This online bank is part of the global, Dutch-based financial group of the same name.

More home loan questions

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16 Responses

    Default Gravatar
    KarenAugust 3, 2023

    If you have a variable home loan can you pay it out in full or do you have to fix the loan

      AvatarFinder
      RichardAugust 4, 2023Finder

      Hi Karen,

      Yes, you can pay out a variable home loan early.

    Default Gravatar
    PidgeMay 26, 2015

    Do I make an appointment to come into a branch to apply for a home loan

      AvatarFinder
      MarcMay 29, 2015Finder

      Hi Pidge,
      thanks for the question.

      You can apply for a home loan in a number of ways. By clicking the ‘Go to Site’ button on this page, you’ll be taken to the Bankwest site where you can apply online, arrange a call back, or make an appointment to apply in person.

      I hope this helps,
      Marc.

    Default Gravatar
    AlamMay 12, 2015

    Did Bankwest revise interest rates for home loan after the RBA reduction of 0.25%? Cant find any info.

      AvatarFinder
      MarcMay 13, 2015Finder

      Hi Alam,
      thanks for the question.

      Bankwest recently announced a rate reduction of 0.17%, which is effective for existing customers on the Tuesday 19 May.

      Cheers,
      Marc.

    Default Gravatar
    brownFebruary 12, 2015

    when paying off a mortgage in full, what charges are there

      AvatarFinder
      ShirleyFebruary 12, 2015Finder

      Hi Brown,

      Thanks for your question.

      If you repay your mortgage early, you will be liable for break fees and discharge costs.

      The fees and charges will depend on your loan and how early you paid it off.

      You may find this guide to home loan exit fees as your reference to know more about the fees if you want to pay off your loan ahead of time. Remember to revisit the relevant product disclosure statement and terms and conditions of your loan.

      Cheers,
      Shirley

    Default Gravatar
    sharonJune 8, 2014

    retired 65 & 63- mortgage free home valuation $600000. impaired credit rating, defaults paid or being paid.
    equity release is this possible

      AvatarFinder
      ShirleyJune 10, 2014Finder

      Hi Sharon,

      Thanks for your question.

      Please contact your home loan consultant or the customer service team at Bankwest to enquire about this.

      Cheers,
      Shirley

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