Bankwest Home Loans Australia

Bankwest is one of Australia’s most recognised and established banking institutions, originally founded in Western Australia in 1895 and operating today as a fully integrated division of the Commonwealth Bank of Australia (CBA). While it carries the financial strength and regulatory backing of one of Australia’s Big Four banks, Bankwest has deliberately carved out its own identity in the market — positioning itself as a digitally led, customer-first lender that takes a simpler, more streamlined approach to home loans, savings accounts, credit cards, and everyday banking.

Unlike traditional branch-heavy banks, Bankwest has leaned hard into a digital-first model, centred around its highly rated mobile banking app and a home loan process supported by specialists available seven days a week, including evenings. This combination of major bank security and a more agile, accessible experience makes Bankwest a genuinely competitive option for a wide range of borrowers — from first home buyers taking their first steps onto the property ladder, to experienced investors looking to grow their portfolios.

Bankwest’s home loan offering has been recognised at the Australian Mortgage Awards for best-in-class service, approval times, innovation, and broker support in both 2024 and 2025 — a strong indicator of its consistent performance in one of Australia’s most competitive lending categories.

As a division of CBA, Bankwest borrowers benefit from the stability, capital strength, and regulatory oversight of Australia’s largest bank, while still dealing with a lender that operates with a noticeably lighter touch when it comes to fees, paperwork, and the overall application experience.

Bankwest Home Loan Products

Bankwest keeps its home loan range deliberately focused — offering variable and fixed rate options across both owner-occupier and investment lending, with the ability to add on package features for borrowers who want more from their loan.

Bankwest Simple Home Loan (Variable)

The Simple Home Loan is Bankwest’s core variable rate product, built around flexibility and fee simplicity. Key features include:

Variable rate from 6.24% p.a. (comparison rate 6.27% p.a.) for owner-occupiers borrowing 60.01%–80% LVR
Unlimited extra repayments with no cap or penalty
Redraw facility available at no charge
Optional 100% offset transaction account (monthly fee of $10 per account applies)
$0 application fee, $0 loan maintenance fee, $0 redraw fee
Minimum loan amount of $20,000
Maximum loan term of 30 years
$350 settlement fee applies

This product suits borrowers who want a clean, low-cost variable loan with the flexibility to make additional repayments and access an offset account without being locked into a package.

Complete Variable Home Loan (Package)

For borrowers who want more features bundled into one arrangement, the Complete Variable Home Loan package adds extra value on top of the core variable rate loan:

100% offset accounts with no monthly offset fee (up to nine offsets per loan)
$0 application fee, $0 loan maintenance fee, $0 redraw fee, $0 loan increase fee
No valuation fees
No progress payment fees for construction
Optional eligible credit card with no annual fee (Breeze, More Mastercard, or Qantas Mastercard)
Annual package fee of $395
Minimum loan amount of $200,000
Interest-only repayments available for up to 5 years

The Complete Package is designed for borrowers who can benefit from multiple offset accounts, construction lending, or who want their credit card annual fee waived — making the $395 annual cost well worth it in many cases.

Fixed Rate Home Loan

Bankwest’s Fixed Rate Home Loan allows borrowers to lock in their interest rate for a set period, providing repayment certainty in a changing rate environment:

1-year fixed rate from 6.49% p.a. for owner-occupiers up to 80% LVR
Extra repayments of up to $10,000 per year permitted
Redraw not available during the fixed period
Optional 40% offset is available during the fixed term
A $12 monthly loan maintenance fee applies during the fixed term
$10 monthly offset fee applies per account after the fixed term ends

Fixed rate lending at Bankwest suits borrowers who want short-term certainty over their repayments and are not planning to make large lump sum payments during the fixed period.

Bankwest Simple Home Loan vs Complete Variable Home Loan

Feature	Simple Home Loan	Complete Variable Home Loan
Minimum Loan	$20,000	$200,000
Annual Fee	$0	$395
Application Fee	$0	$0
Offset Accounts	100% offset available	100% offset — up to 9 accounts
Monthly Offset Fee	$10 per account	$0
Redraw	Available ($0 fee)	Available ($0 fee)
Extra Repayments	Unlimited	Unlimited
Valuation Fee	Standard fee applies	$0
Progress Payment Fee	$80 per payment	$0
Loan Increase Fee	$295	$0
Credit Card Included	No	Optional — annual fee waived
Interest Only	Up to 5 years	Up to 5 years
Best For	Simple, low-cost borrowers	Borrowers with multiple offsets or construction needs

Mortgage Broker Or Bank: What’s The Smarter Choice?

A Complete Guide To Finding The Right Home Loan Solution For Your Needs

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Bankwest Lending Scenarios

Bankwest caters to a broad range of borrower types across its home loan suite:

First Home Buyers

Bankwest provides dedicated guidance, borrowing calculators, deposit planning tools, and access to home loan specialists who walk first home buyers through every stage of the process — from understanding how much deposit they need to navigating conditional approval and final settlement.

Refinancers

For borrowers looking to switch from another lender, Bankwest’s refinancing process is handled as a new loan application. No stamp duty applies on refinances, and Bankwest specialists are available to help assess whether the move makes financial sense, given any discharge or break fees from the existing lender.

Self-Employed Borrowers

Bankwest accepts applications from sole traders, freelancers, and business owners with at least 18 months of ABN registration (where LVR is below 80%). Required documents typically include business and personal tax returns, a recent ATO notice of assessment, and business financial statements — with alternative documentation accepted where standard docs are unavailable.

Investors

Bankwest supports both new and experienced property investors with dedicated investor loan products and guides. Complete Package holders investing in property can also access a discounted depreciation schedule through DEPPRO Pty Ltd, making tax time more manageable.

Construction Borrowers

Bankwest’s construction loan product allows borrowers to draw down funds in stages as building progresses, with interest-only repayments during the construction phase. Complete Package holders pay no progress payment fees, a meaningful saving on larger builds with multiple drawdown milestones.

Bridging Finance

For borrowers buying before they sell, Bankwest offers bridging loans of up to 6 months under its Simple Home Loan product. The existing home loan must be held with Bankwest or refinanced to Bankwest as part of the arrangement.

Bankwest Fixed vs Variable Rate Comparison

Feature	Variable Rate	Fixed Rate
Rate (Owner-Occ, P&I)	From 6.24% p.a.	From 6.49% p.a. (1 yr)
Rate Certainty	Rates can move up or down	Locked in for a fixed term
Extra Repayments	Unlimited	Up to $10,000 per year
Redraw	Available	Not available during the fixed term
Offset	100% offset available	40% offset maximum
Break Costs	None	Break costs may apply
Best For	Flexible borrowers	Borrowers want repayment certainty

Pros

Zero Ongoing Fees Across All Loan Products
Award-Winning Products Backed by Real Recognition
Market-Leading Digital Experience Applications take as little as 5 minutes
Dedicated Green and EV Lending
Highly Rated Customer Satisfaction With a Trustpilot score of 4.8/5 and an NPS of 74
Competitive Term Deposit Rates A 5.25% p.a. fixed rate on 12-month term deposits
Flexible Repayment Terms Loan terms ranging from 6 months to 7 years
Fully APRA-Regulated and Government-Backed

Cons

No Home Loan Products
No Physical Branch Access
Car and EV Loans Restricted to Dealership Purchases
Green Loan Restricted to Solar Only
Credit Score Heavily Influences Rate
Hybrid Vehicles Excluded from EV Loans
Limited Product Range Compared to Major Banks
Newer Institution with Shorter Track Record

Who Is Bankwest Best Suited For?

Bankwest is a strong fit for:

Owner-occupiers wanting a clean, low-fee variable loan with offset access
First home buyers who want specialist support and straightforward guidance throughout the process
Refinancers looking for competitive rates, strong digital tools, and major bank security
Construction borrowers who can benefit from the Complete Package’s waived progress payment fees
Self-employed borrowers with at least 18 months ABN history and sub-80% LVR
Investors seeking a reliable, CBA-backed lender with package benefits and tax-time tools

It is less suited for:

Borrowers wanting to break or redraw during a fixed-rate period
Low-deposit borrowers above 80% LVR who want to avoid LMI costs
Borrowers needing bridging finance within the Complete Package
Those who prefer face-to-face branch banking as the primary service channel

Final Takeaway

Bankwest delivers a compelling combination of major bank backing and a leaner, more digital-forward banking experience. Its home loan range is focused, well-priced, and supported by a team that is genuinely accessible outside of standard business hours. The Complete Variable Home Loan Package, in particular, offers strong value for borrowers with multiple offset accounts, construction needs, or who can make use of the bundled credit card benefit.

At FS Loan, we work with Bankwest and a broad panel of lenders to ensure every client is matched with the right product for their individual situation. Whether you are buying, building, refinancing, or investing, we can help you assess your borrowing capacity and structure the strongest possible application. . Call +123 456 7891 or reach out online to speak with one of our experienced mortgage and lending brokers today.