Complete Fixed Home Loan (Interest Only) 1 Year
- Last updated on 26 May 2020
Fixed - 1 year
based on $300,000 loan amount for 25 years
- Comes with a credit card
- Repayments will not change during fixed period
- Limited extra repayments
- Annual fee charged
- Discharge fee at end of loan
- Repayments won't decrease if RBA cuts rates
Interest rate structure
Fixed - 1 year
$200k - $100m
Principal & interest
Loan term range
1 - 30 years
Partial offset account
Allowed with restrictions
Allows split interest
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Estimated upfront fees
Minimum SMSF Amount
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Bankwest was named Money magazine’s Bank of the Year in 2017, with its below average mortgage rates a contributing factor.
Bankwest was founded by the government of Western Australia in 1895. Originally known as the Agricultural Bank of Western Australia, it has changed hands and names several times since, becoming known as Bankwest in 1994.
Bankwest was bought by the Commonwealth Bank of Australia in 2008. Although its headquarters is in Perth, Bankwest has offices throughout Australia.
A construction loan is loan taken out for the purpose of building or substantially renovating a residential property. Under this type of loan, the funds are released in stages when certain milestones in the construction process are reached. Once the building is complete, the loan will revert to a standard principal and interest mortgage.