RateCity.com.au
Advertisement

Bankwest Home Loans

Bankwest is an Australian bank that was formed in 1895 as the Bank of Western Australia. It was acquired by the Commonwealth Bank of Australia in 2008..

Bankwest is based in Perth and has branches throughout Australia and offers products and services that include personal and home loans, banking accounts, credit cards and insurance. Customers can make an appointment with a home loan specialist or visit a Bankwest branch for advice on personal banking and loans.

The bank has won a number of awards, such as Smart Investor’s Bank of the Year in 2013 and 2014, as well as Bank of the Year from 2010-2012.

Bankwest - Complete Loan

The Bankwest Complete Loan is a variable, fixed rate or line of credit loan offered as a package with a credit card and transaction account. Customers are charged an annual fee in exchange for access to an offset account and the ability to make additional repayments.

There is also the option for principal and interest or interest-only repayments, with interest-only available for up to five years on variable rate loans. Other features include the ability to split or transfer the loan at no additional cost.

Bankwest - Fixed Loan

The Bankwest Fixed Loan offers the stability of a fixed-rate loan for one to five years. Customers can borrow up to 95 per cent of the property value and have the option of principal and interest or interest-only repayments. These payments can be made on a weekly, fortnightly or monthly basis and limited additional repayments are also permitted each year. There is also an optional partial offset account to use your savings to reduce the amount of interest owed.

Bankwest - Mortgage Shredder Loan

The Bankwest Mortgage Shredder Loan is a standard variable rate loan suited to those wanting to pay off their mortgage more quickly. The loan allows owner-occupiers to borrow up to 95 per cent of the property value, or 90 per cent for investors. Customers have the ability to make unlimited additional repayments and use an optional 100 per cent offset account to potentially reduce the interest paid on the loan.

Bankwest - Premium Select Loan

The Bankwest Premium Select Loan offers a discounted variable interest rate depending upon the per cent of the value of the property that is borrowed. Customers can borrow up to 90 per cent of the property value but receive a discount if the loan is 80 per cent or lower. There is also the ability to make additional repayments, free redraws and an optional 100 per cent offset account, alongside flexible weekly, fortnightly and monthly repayment options.

Bankwest - Regular Saver Loan

The Bankwest Regular Saver Loan is a variable rate loan that allows customers to make free additional repayments and access these payments through a redraw facility. As with the Mortgage Shredder loan, borrowers can also access an optional offset account and borrow up to 95 per cent of the property value for owner-occupiers and up to 90 per cent for investors. Repayments can be made on a weekly, fortnightly or monthly basis, but the loan has a relatively high interest rate.

Bankwest- Equity Access Loan

The Bankwest Equity Access Loan is a variable line of credit loan that allows homeowners to borrow up to 90 per cent of the equity they own in their property. The loan functions as a large credit account and can be used to fund renovations, holidays and other purchases. Customers can make additional repayments and access a free redraw facility and have the option to make interest-only payments once the loan limit is reached.

Home Loans from Bankwest

Company
Product
Advertised Rate
Comparison Rate
Monthly Repayment
Go To Site
Bankwest
Advertised Rate4.12%

Variable

Comparison Rate4.13%
Monthly Repayment$1212

over 30 years

Details
Bankwest
Advertised Rate4.24%

Variable

Comparison Rate4.25%
Monthly Repayment$1230

over 30 years

Details
Bankwest
Advertised Rate3.89%

Fixed - 3 years

Comparison Rate4.39%
Monthly Repayment$1250

over 30 years

Details
Bankwest
Advertised Rate3.99%

Fixed - 2 years

Comparison Rate4.42%
Monthly Repayment$1255

over 30 years

Details
Bankwest
Advertised Rate4.02%

Variable

Comparison Rate4.43%
Monthly Repayment$1256

over 30 years

Details
Bankwest
Advertised Rate4.02%

Variable

Comparison Rate4.43%
Monthly Repayment$1256

over 30 years

Details
Bankwest
Advertised Rate4.21%

Fixed - 1 year

Comparison Rate4.45%
Monthly Repayment$1259

over 30 years

Details
Bankwest
Advertised Rate4.49%

Variable

Comparison Rate4.50%
Monthly Repayment$1267

over 30 years

Details
Bankwest
Advertised Rate4.35%

Fixed - 4 years

Comparison Rate4.54%
Monthly Repayment$1273

over 30 years

Details
Bankwest
Advertised Rate4.45%

Fixed - 5 years

Comparison Rate4.60%
Monthly Repayment$1282

over 30 years

Details
Pros
  • Flexible repayment options.
  • Wide range of home loan products.
  • Relatively competitive rates on most loans.
  • Package loans available.
Cons
  • Optional offset account charges a small fee.
  • Branches limited outside WA.
Advertisement
Customer Service

Bankwest home loans customers can contact the bank through a number of different mediums, including online, via email or on the Bankwest Forum. The bank also has an Australian-based call centre with specialised lines for personal, business and international customers.

There is also the option to talk to a staff member in person at Bankwest branch or book a mobile or phone appointment with an affiliated lending specialist.

Customer service centre (phone)

Mobile app

Online banking

Email

Live Chat

Branch

Mobile banking staff

Applying and Eligibility

Potential Bankwest customers can apply for a home loan in a number of ways. These include online or phone applications, as well as the option to make an appointment at a Bankwest branch or with a mobile lending specialist.

You will also need to provide documentation when applying for a home loan. This may include:

  • Personal details and identification.
  • Employment details.
  • Financial details such as income, assets and any other loans or commitments.

For refinancers you may also have to provide recent home loan statements for the past six months from your other financial institution.

Advertisement