What are the break costs for fixed-rate loans with Bankwest?

Break costs can apply if you exit a fixed-rate loan early. These costs depend on the remaining term and the interest rate difference at the time of breaking the loan.

Are there any hidden charges in Bankwest's payment processes?

Yes, some customers have reported hidden charges during payment processes. It's important to review your statements and contact support if you notice any discrepancies.

Why is Bankwest's customer support hard to reach?

Bankwest's transition to an online-only model has led to challenges in accessing support, often resulting in unresolved issues. Using their online chat or app might provide quicker responses.

How much can I save by refinancing to Bankwest?

Refinancing a $500,000 loan to Bankwest could save you $101 per month, totaling $36,446 over 30 years. Savings vary based on loan size and terms.

What is the annual fee for the Complete Home Loan Package with Bankwest?

The Complete Home Loan Package comes with a high annual fee of $395, so consider this when evaluating overall costs.

How do I discharge my home loan with Bankwest?

The discharge process takes 10 to 15 business days and requires a discharge form. Fees may apply depending on your loan type.

Are there issues with Bankwest's internet banking services?

Yes, there have been frequent outages and problems reported with Bankwest's internet banking services, which can affect transaction processing.

How much would my monthly repayment be on a $600,000 loan at 6.19% with Bankwest?

For a $600,000 loan at 6.19% over 30 years, your monthly repayment would be approximately $3,671.

Does Bankwest offer any benefits with their home loans?

Yes, Bankwest allows up to 9 offset accounts with their home loans, which can significantly reduce your interest payments.

What is the timeline for refinancing with Bankwest?

Refinancing with Bankwest usually takes 15 to 20 business days. They may offer retention deals for existing customers.

UPDATED AUG 7, 2026

Bankwest Home Loans: The 2026 Review

Unlock savings with up to 9 offset accounts reducing interest payments. Watch out for hidden charges in payment processes. Ready to optimize your home loan strategy?

Bheja Verdict

Very Good

4.1/5

✓

Competitive interest rates

✓

Great features: offset account, redraw facility

Check Eligibility

Bankwest Home Loans At a Glance

🏷️Best Rate Available

6.19%

Variable • Owner Occupied

💳Application Fee

Fee-free options available

📅Monthly Fee

$12

Ongoing service fee

Loan Range:$20K - $100.0M

LVR:Up to 96%

Products:105 variations

Offset Account:Available

Current Bankwest Home Loan Rates

Last updated: August 2026

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Average Rate: 6.36%
Best Rate: 6.24%
Monthly Payment: $3,075

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Sort By

Bankwest Simple Home Loan
Bankwest
20%-30% DepositOffsetRedraw
6.24%
Interest Rate
Variable
6.27%
Comparison Rate*
$3,075
per month
Principal And Interest
Visit Lender’s Site
Check Eligibility
Fees:
Application $695
Discharge
$300+ other fees may apply
Complete Variable Home Loan Package
Bankwest
20%-30% DepositOffsetRedraw
6.24%
Interest Rate
Variable
6.63%
Comparison Rate*
$3,075
per month
Principal And Interest
Visit Lender’s Site
Check Eligibility
Fees:
Discharge
$38+ other fees may apply
Bankwest Simple Home Loan
Bankwest
10%-20% DepositOffsetRedraw
6.49%
Interest Rate
Variable
6.52%
Comparison Rate*
$3,157
per month
Principal And Interest
Visit Lender’s Site
Check Eligibility
Fees:
Application $695
Discharge
$300+ other fees may apply
Complete Variable Home Loan Package
Bankwest
10%-20% DepositOffsetRedraw
6.49%
Interest Rate
Variable
6.88%
Comparison Rate*
$3,157
per month
Principal And Interest
Visit Lender’s Site
Check Eligibility
Fees:
Discharge
$38+ other fees may apply

Bankwest Product Statistics

Real-time insights and market analysis

Bankwest offers 4 home loan products across 105 variations, the average variable rate is 6.88% p.a., the best available rate is 6.19% p.a..

Average Variable Rate

6.88%

26 products

Average Fixed Rate

7.30%

79 products

Best Available Rate

6.19%

Variable • Owner Occupied • P&I

Total Products

105 variations

Fee Summary

Application Fee

12% fee-free

$0 - $695

Monthly Fee

$12

Discharge Fee

$38.2 - $300

Late Payment Fee

$50

Key Features

Across Bankwest's range: 105 include an offset account, 26 offer redraw, 105 allow extra repayments, 105 support split loans.

Offset Account

100%

Redraw Facility

25%

Extra Repayments

100%

Split Loan

100%

Product Ranges

Bankwest's interest rates range from 6.19% to 8.39% p.a., maximum LVR from 60% to 96%, loan amounts span $20,000 to $100,000,000.

Interest Rates6.19% — 8.39%

Max LVR60% — 96%

Loan Amount$20K — $100.0M

Disclaimer: The key features displayed highlight what's available across the lender's home loan range. Individual products and variations may differ. Use the product table to search for a loan with the specific features you're looking for.

How Bankwest Compares

FEATURE	Bankwest	CommBank	MyCard	St.George Bank	Bank of Melbourne
Best Variable Rate	6.19%	6.09%	—	6.29%	6.29%
Best Fixed Rate (3yr)	6.69%	6.49%	—	6.54%	6.54%
Application Fee	$0BEST	$300	$0	$0	$0
Monthly Admin Fee	$12	$10	$0	$0	$0
Offset Account			—
Redraw Facility			—
Product Variations	105	71	0	147	147

💡

Bheja Insight: Bankwest waives application fees, saving borrowers hundreds compared to other mid-tier banks.

About Bankwest

Company overview and contact information

Founded in 1895 as the Agricultural Bank of Western Australia, Bankwest has grown into a major player in the Australian banking sector. Headquartered in Perth, it is part of the Big 4 owned banks, providing a robust blend of branch and online services. As an APRA-regulated Authorized Deposit-taking Institution (ADI) with both AFSL and ACL licenses, Bankwest ensures a secure and reliable banking experience.

Bankwest offers a diverse range of home loan products, featuring 105 variations with interest rates ranging from 6.19% to 8.39%. Their offerings cater to a wide array of customers, from first-time homebuyers to seasoned investors. Notable features include no ongoing fees for their Simple Home Loan and multiple offset accounts, providing flexibility and cost savings.

What sets Bankwest apart is its commitment to innovation and customer service. Recognized for having top Business Development Managers, they enhance broker interactions and support. Additionally, their Technology Graduate Program aims to nurture local tech talent in Western Australia, reflecting their forward-thinking approach and community focus.

Company Details

Legal Name: Bankwest

ABN: 48123123124

Established: 1895

Headquarters: Perth, Western Australia

Ownership: Big 4 Owned

AFSL: 234945

Key Features

Bankwest offers flexible home loan solutions with features like multiple offset accounts, unlimited extra repayments, and digital banking access, providing significant interest savings and convenience for borrowers.

Offset Accounts

Link up to 9 offset accounts to your Complete Variable Home Loan with Bankwest. Each offset account reduces the balance on which interest is calculated, potentially saving you thousands in interest payments over the life of your loan. Other fees and charges may apply.

Unlimited Extra Repayments

With Bankwest's variable rate home loans, you can make unlimited extra repayments. This allows you to pay off your loan faster and reduce the overall interest paid, offering greater financial flexibility.

Bankwest App and Online Banking

Start banking anytime with the Bankwest App or Online Banking. This digital feature provides easy access to manage your home loan, check balances, and make transactions on the go, enhancing convenience and control.

Guarantor Support

Bankwest allows a guarantor to support your loan application by providing additional property as security. This can help you secure the full loan amount needed, especially if traditional lending criteria are not met. Independent legal and financial advice is required.

Flexible Loan Splits

Bankwest offers the option to split your home loan between fixed and variable rates. This feature helps manage interest rate exposure by allowing you to benefit from both stable and flexible interest environments.

No Ongoing Fees

The Bankwest Simple Home Loan and offset accounts during the fixed term come with no ongoing fees, making it a cost-effective choice for borrowers looking to minimise expenses.

Flexible Repayment Options

Choose from weekly, fortnightly, or monthly repayments with Bankwest. This flexibility allows you to align your loan payments with your income schedule, making budgeting easier.

Surplus Balance Access

Access your surplus balance anytime via online banking with Bankwest. This redraw facility provides liquidity when needed, without the hassle of applying for additional credit.

Home Loan Application Tracker

Track your home loan application in real time with Bankwest’s online tracker. This digital feature keeps you informed at every step, reducing uncertainty and enhancing transparency.

Construction Loan Support

Bankwest loans can be used for building or construction purposes, providing support for those looking to build their dream home. This includes features tailored for construction loan functionality.

Fees & Charges

Bankwest offers a comprehensive range of home loan products with various fees, including some that are waived under specific packages. Their fee structure includes upfront, ongoing, and conditional fees, providing transparency for borrowers.

Fee Type

Amount

Description

Application Fee

$0 or $295 (usually $695)

No application fee applies for any home loans under the Complete Package. A fee of $295 may apply for Fixed Rate loans.

Security Assessment Fee

Variable

Charged when a valuation is performed on mortgaged property after initial settlement. Waived under the Complete Package benefits.

Legal Disbursement Fee

$350

Applies when a new mortgage is taken, whether settlement is attended in person or digitally.

Search Handling Fee

$40

Payable for completion of any search conducted by Bankwest.

Complete Home Loan Package Fee

$395/year

Covers all Complete Home Loans held under the Package, payable annually in advance.

Discharge Settlement Attendance Fee

$38.2

Payable per settlement, whether attended in person or digitally.

Default Administration Fee

$50/month

Charged per month during the period that the loan is under administration due to default.

Loan Increase Fee

$295

Payable when applying to increase the amount of credit or credit limit under an existing loan.

Fixed Rate Capping Fee

Variable

Charged when electing to cap a fixed interest rate. The fee is either 0.15% of the loan amount or $450, whichever is greater.

Loan Maintenance Fee

$12/month

Payable during the fixed interest rate period.

Fixed Rate Break Administration Fee

$50

Payable if the loan is repaid in full or terminated during the fixed interest rate period.

Home Loan Portability Fee

$350

Payable upon application to substitute an existing security with another.

Progress Payment Fee

$0 for Complete, $80 per payment for Simple

Charged on each occasion the Bank makes a progress payment.

Bank Cheque Fee

$10

Payable per cheque required for settlement purposes.

Fees subject to change. Refer to lender documentation for current rates.

Eligibility Criteria

Bankwest offers home loans to individuals who meet specific age, residency, and financial criteria, ensuring accessibility to a broad range of Australian residents.

Must be at least 18 years old.

Must be an Australian citizen or permanent resident.

Must be a natural person, not a legal entity.

Must meet Bankwest's credit assessment criteria, demonstrating the ability to make repayments without substantial hardship.

Proof of income is required to verify financial capacity.

Loan-to-Value Ratio (LVR) must be between 60% and 96%.

Lenders Mortgage Insurance (LMI) is required for LVRs above 80%.

Loan amounts must be between $20,000 and $99,999,999.

Important Notes

LMI is required for loans with an LVR above 80%, impacting overall costs.
Special programs like the Technology Graduate Program are available, focusing on WA tech talent.
Bankwest offers flexible loan packages with features like offset accounts and credit cards.
Transition to an online-only model may limit access to physical branches.

Bankwest Home Loan Pros & Cons

Our expert take on whether Bankwest is right for you

Pros

+Competitive interest rates below market average
+Up to 9 offset accounts available
+$3,000 cashback offer for refinancing loans over $250,000, valid until 31 July 2026
+Flexible repayment options
+No ongoing fees for Simple Home Loan during fixed term

Cons

–Transition to online – only model limits physical branch access
–High annual fee for Complete Home Loan Package
–Potential hidden charges in payment processes

Best For

Borrowers seeking multiple offset accounts
Homeowners looking to refinance with cashback offers
Tech-savvy individuals comfortable with online banking
Investors needing flexible repayment options

Not Ideal For

Customers preferring in-person branch access
Borrowers sensitive to high annual fees

💡

Bheja Verdict: Bankwest offers competitive home loan rates with attractive features like multiple offset accounts, but its shift to an online-only model may deter those seeking in-person support.

Expert Secrets (Why Use Us?)

Insider knowledge about Bankwest that most borrowers don't know

LMI Cost Examples

1For a $500,000 loan at 85% LVR, LMI costs $6,000.

2At 90% LVR, the LMI increases to $12,500 for the same loan amount.

3A 95% LVR on a $500,000 loan incurs $21,000 in LMI costs.

4A $750,000 loan at 85% LVR requires $9,000 in LMI.

Fee Waivers

Annual fee waiver for credit cards when linked to a Complete Home Loan Package, providing ongoing savings.

Offset Benefits

A $10,000 offset account saves $52 per month, totaling $624 annually.

A $25,000 offset account saves $129 per month, totaling $1,548 annually.

A $50,000 offset account saves $258 per month, totaling $3,096 annually.

A $100,000 offset account saves $516 per month, totaling $6,192 annually.

Admin & Logistics (The Help Desk)

Everything you need to manage your loan

Application Process

5 Steps

Submit Discharge Form: Complete and submit the Bankwest Discharge Form to initiate the process. (Tip: Ensure all details are accurate to avoid delays.)

Pay Applicable Fees: Pay the necessary fees, including the Discharge Settlement Attendance Fee and any other applicable charges. (Tip: Check for any fee waivers or discounts available under your loan package.)

Confirm Settlement Details: Coordinate with your settlement agent to confirm the date and time for settlement. (Tip: Ensure your settlement agent is aware of all necessary details to streamline the process.)

Wait for Processing: Allow 10 to 15 business days for Bankwest to process the discharge request. (Tip: Contact Bankwest customer support if you have any concerns or need updates.)

Final Settlement: Attend the settlement, either in person or digitally, to finalize the discharge. (Tip: Double-check all documents and ensure all parties are aligned on the settlement date.)

Processing Times

Discharge Process10 to 15 business days

Required Documents

Discharge Form

💡

Pro Tips

Request the discharge at least 2 weeks before your planned settlement date to avoid delays.
Ensure all fees are paid promptly to prevent processing hold-ups.
Contact customer support if you need assistance or clarification during the process.
Check if your loan package offers any fee waivers or benefits that could reduce costs.
Avoid common mistakes by double-checking all form details before submission.

Bankwest Mortgage Calculator

Estimate your repayments using current Bankwest home loan rates

Over 30 years, borrowing $480,000 at 6.19%, total cost including interest and known fees could be around $1,058,729. Estimated monthly repayment: $2,936.74.

Home loan option

Property price

Your deposit

Loan term (years)Repayment frequency

Estimated total cost over 30 years

$1,058,729

Estimated repayment

$2,936.74

monthly repayment

Amount you borrow: $480,000 · At 6.19% · Variable — can change with the market

This loan can be split between fixed and variable. This estimate uses one option only.

Known fees in this estimate

Application fee: $695
Settlement fee: $38
Valuation fee: $80
Legal fee: $350
Document fee: $40
Discharge fee: $300
Total ongoing fees (30 yrs): $0

How is this calculated?

Estimated total cost includes the amount borrowed, interest over the full loan term, and any upfront, ongoing, and discharge fees published by the lender. It does not include stamp duty, LMI, or savings from an offset account.

The revert rate is the rate your loan may switch to when a fixed, introductory, or interest-only period ends. Where a lender hasn't published this rate, we use an estimate.

Cost breakdown

Amount you borrow: $480,000
Total interest: $577,225
Upfront fees: $1,203
Ongoing fees: $0
Discharge fee: $300
Estimated total cost: $1,058,729

These figures are estimates only. Your actual repayments and costs may differ. Confirm all details with your lender before making a decision.
Where a lender hasn't published their revert rate (the rate that applies after a fixed, introductory, or interest-only period ends), we estimate it. Your repayments may change when this period ends.
Split loans and offset accounts aren't included in this estimate.
For product comparison and comparison rates, see the rates table above.

Still Unsure? Let a human handle it.

Not sure if Bankwest is right for you? Our brokers can help you compare options.

Frequently Asked Questions

Bankwest typically takes 5 to 10 business days for conditional approval and an additional 5 to 7 business days for full approval.