Bankwest Home Loans
“Making banking easier.” (Bankwest)
Bankwest Home Loan Rates & Options:
Here’s a snapshot of Bankwest’s home loans, rates & options currently on offer for a purchase value of $600,000 in NSW. Please note that this table is formulated based on paying both principal and interest whilst being sorted by comparison rate (lowest to highest). To compare other home loans, please click here.
Loan Options: What Bankwest home loans offer
The inclusions below represent a selection of the features available with a standard Variable Rate home loan of $350,000 for an owner-occupier. CANSTAR is not making any suggestion or recommendation to you about this product. Please see our comparison tables for more details and information about products on offer from this provider and other providers listed on our database.
Additional conditions may apply to different features. Please ensure that you read the product disclosure statement to determine all the current loan terms and conditions for the product you are considering.
Bankwest Standard Variable Home Loan Features
(Bankwest’s standard variable home loan is the Complete Variable Home Loan also called the Mortgage Shredder.)
- Redraw facility available.
- Split loan facility available; unlimited splits allowed; no split loan application fee.
- Mortgage is portable.
- Repayments may be made weekly, fortnightly, or monthly.
- Additional repayments allowed.
- Lump sum repayments allowed.
- Interest only repayments available for up to 5 years.
- Minimum loan amount $20,000 – up to unlimited maximum loan amount.
- Family guarantee option available.
What types of home loans does Bankwest offer?
At the time of writing, Bankwest offers the following types of home loans:
- Variable rate home loan
- Fixed rate home loan
- Package home loan
- Investment home loan
Find out about how different types of home loans work here.
See our comparison tables for details of Bankwest home loans:
How to apply for a Bankwest home loan
You can apply for a Bankwest loan either online, over the phone on 13 17 19 (open 7 days), or in a branch. You can also arrange for a Bankwest Home Loan Specialist to come to you. Follow our applying for a home loan checklist, and use the Canstar website to compare Bankwest home loans with other home loans before choosing a product that suits your needs:
Can you make extra repayments on a Bankwest home loan?
Yes, Bankwest allows extra repayments on their variable rate home loans. Terms and conditions apply; contact your lender for details.
Are redraw facilities offered on Bankwest home loans?
Yes, Bankwest offers redraw facilities on eligible home loans when additional repayments have been made. Fees and charges may apply to use of a redraw facility; contact your lender for details.
What are the payment options for Bankwest home loans?
Bankwest lets you make home loan repayments via bank transfer, mobile banking, online banking, over the phone, or in-branch.
If you’re in the market for a home loan, compare your home loan options with CANSTAR:
Bankwest was founded in 1895 by the state government to provide for farmers, under the name Agricultural Bank of Western Australia. Back then, WA was a wide and relatively empty expanse, so Bankwest staff would hit the road and travel for miles between farms, sleeping on the side of the road. In 2008, Bankwest joined the Commonwealth Bank Group.
Bankwest was responsible for a number of banking “firsts” in Australia – they launched blue light signature verification units, drive-through bank branches, WA’s first after-hours cash dispenser (the pre-cursor to the ATM), and Australia’s first bank to fully implement electronic data processing. They were also the first bank in WA to give women jobs as bank tellers.
Bankwest demonstrate a strong level of commitment to supporting the Australian community. In 2013, they established the Bankwest Foundation to improve the well-being of WA communities and Australians around the country, providing grants of $1 million per year. So far Bankwest has provided Easy Grants to over 1,300 community groups.
Bankwest is proud to sponsor worthy causes such as Telethon fundraising for children, the West Australian Ballet, Teen Challenge WA, the Committee for Economic Development of Australia (ceda), and the West Coast Eagles Football Club. They also support the arts through the Bankwest Art Prize and the Bankwest Art Collection, among other initiatives. Bankwest also gives employees time to volunteering for the charitable causes they care about.
As for protecting the environment, Bankwest has done well. Parent company the Commonwealth Bank’s 2015 sustainability report shows that Bankwest has reduced their emissions by far more than their targets (63% over 45% target for scope 1, 39% over 30% target for scope 2).
Showing products in Canstar’s database with links to lenders’ websites. The display is sorted by the advertised interest rate (lowest to highest), then provider name (alphabetically).
Source: Canstar. Based on residential variable home loans available for a loan amount of $350,000 at 80% LVR, and available for Principal and Interest repayments.
*Comparison rate based on loan amount of $150,000. Read the Comparison Rate Warning.
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