What are the break costs for a fixed rate loan with Bankwest?

Break costs can apply if you exit a fixed rate loan early with Bankwest. The exact amount depends on factors like the remaining term and changes in interest rates.

Why am I having trouble accessing my Bankwest account after closure?

Many customers report issues accessing their accounts post-closure due to the transition to an online-only model. If you're experiencing this, contacting Bankwest customer service directly might help resolve the issue.

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

The Complete Home Loan Package has a high annual fee of $395, which covers features like offset accounts and redraw facilities.

How much can I save by refinancing my home loan with Bankwest?

Refinancing a $500,000 loan with Bankwest could save you $101 per month, totaling $36,446 over 30 years compared to market averages.

What should I do if I can't process payments through Bankwest's online services?

Bankwest has frequent outages with its online services. If you're unable to process payments, try using alternative methods or contact customer service for assistance.

How does Bankwest's digital-first model affect customer service?

The shift to a digital-first model has led to a decline in customer satisfaction, with many finding customer service uncooperative. However, Bankwest is investing in secure technology to improve experiences.

What are the repayment amounts for a $600,000 loan at Bankwest?

For a $600,000 loan at 6.19% over 30 years, your monthly repayment would be $3,671, with a total interest of $721,532.

How long does the discharge process take with Bankwest?

The discharge process with Bankwest takes about 10-15 business days and requires a completed Discharge Authority form signed by all parties.

Are there any upfront savings with Bankwest home loans?

Yes, Bankwest offers no application fee, saving you approximately $600 upfront, which enhances the overall value proposition of their home loans.

UPDATED JUN 23, 2026

Bankwest Home Loans: The 2026 Review

Tech graduates and brokers thrive with Bankwest's digital-first model. Beware of the $395 annual fee on the Complete Home Loan Package. Ready to explore your options?

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

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

Advanced

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	Unloan	MyCard	St.George Bank	Bank of Melbourne
Best Variable Rate	6.19%	5.89%	—	6.29%	6.29%
Best Fixed Rate (3yr)	6.69%	—	—	6.54%	6.54%
Application Fee	$0BEST	$0	$0	$0	$0
Monthly Admin Fee	$12	$0	$0	$0	$0
Offset Account		—	—
Redraw Facility			—
Product Variations	105	4	0	147	147

💡

Bheja Insight: Bankwest offers competitive rates and features in line with other mid-tier banks.

About Bankwest

Company overview and contact information

Bankwest, established in 1895 as the Agricultural Bank of Western Australia, has evolved into a major player in the Australian banking sector. Now a part of the Commonwealth Bank of Australia, it operates under the regulatory oversight of APRA as an Authorised Deposit-taking Institution (ADI). With its headquarters in Perth, Bankwest combines a rich history with modern banking solutions, offering services through both branches and online platforms.

Bankwest provides a diverse range of home loan products, featuring 105 variations with interest rates ranging from 6.19% to 8.39%. The bank caters to a wide array of customers, from first-time homebuyers to seasoned investors. Notable features include no progress payment fees for construction loans and the availability of multiple offset accounts, enhancing flexibility and savings for borrowers.

What sets Bankwest apart is its commitment to technology and customer experience. Recognized for its secure, streamlined digital services, it ranks highly in broker experience, with a 97% positive rating. Bankwest's focus on a digital-first model and its investment in technology make it a preferred choice for brokers and customers alike, aiming to be the leading bank for brokers in Australia.

Company Details

Legal Name: Bankwest

ABN: 48123123124

Established: 1895

Headquarters: Perth, Western Australia

Ownership: Big 4 Owned

AFSL: 234945

Parent Company: Commonwealth Bank of Australia

Key Features

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

Offset Accounts

Link up to 9 offset accounts to your Complete Variable Home Loan. Each account reduces the interest-bearing balance, potentially saving you thousands in interest payments. Other fees and charges may apply.

Surplus Balance Access

Access your surplus balance anytime through Bankwest’s online banking platform. This feature provides liquidity and flexibility, allowing you to manage your finances efficiently.

Unlimited Extra Repayments

Make unlimited extra repayments with Bankwest's variable rate home loans, helping you pay off your mortgage faster and reduce overall interest costs.

Bankwest App and Online Banking

Start banking anytime with the Bankwest App or Online Banking. These digital platforms offer convenience and control over your home loan management from anywhere.

Guarantor Support

A guarantor can help you secure a loan by providing additional property as security. This option may allow you to borrow more than you could independently, subject to legal and financial advice.

Flexible Loan Splits

Split your home loan between fixed and variable rate portions or switch between them at any time. This flexibility helps manage interest rate exposure and tailor repayments to your financial situation.

No Annual Fee Credit Card

Select Bankwest home loan packages offer an optional eligible credit card with no annual fee, providing additional financial flexibility and potential cost savings.

Construction Loan Functionality

Bankwest’s home loans support building or construction purposes without progress payment fees, making it easier to manage construction-related expenses.

Flexible Repayment Options

Choose from weekly, fortnightly, or monthly repayments, and opt for interest-only periods of up to five years, providing flexibility to suit your cash flow needs.

Fees & Charges

Bankwest offers a comprehensive range of home loan products with a transparent fee structure, including various upfront, ongoing, and conditional fees. Fee waivers and variations are available under specific packages, providing flexibility for borrowers.

Fee Type

Amount

Description

Application Fee

$0-$695

No application fee for Complete Package loans; $695 for other products.

Security Assessment Fee

Variable

Charged for property valuation after initial settlement, waived under Complete Package benefits.

Legal Disbursement Fee

$350

Applies when a new mortgage is taken, regardless of settlement method.

Search Handling Fee

$40

Charged per dealing for searches conducted by Bankwest.

Complete Home Loan Package Fee

$395/year

Annual fee covering all loans under the Complete Package.

Default Administration Fee

$50/month

Charged per month during loan administration due to default.

Loan Increase Fee

$295

Payable when applying to increase the loan amount or credit limit.

Fixed Rate Capping Fee

Variable

Charged when capping a fixed interest rate; 0.15% of the loan or $450, whichever is greater.

Loan Maintenance Fee

$0-$12/month

$12 monthly fee during fixed interest rate periods.

Discharge Settlement Attendance Fee

$38.2

Charged per settlement, applicable for both in-person and digital settlements.

Progress Payment Fee

$80

Charged each time a progress payment is made, applicable to Simple Home Loans.

Fixed Rate Break Administration Fee

$50

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

Home Loan Portability Fee

$350

Charged when substituting an existing security with another.

Preparation of Discharge of Mortgage Fee

$300

Charged for preparing each discharge of mortgage document.

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

Eligibility Criteria

Bankwest offers home loans to eligible Australian citizens and permanent residents, providing flexible options for a wide range of financial needs.

Must be at least 18 years old.

Must be an Australian citizen or permanent resident.

Must provide proof of income, such as payslips or tax returns.

Must meet Bankwest's credit assessment criteria, demonstrating the capacity to repay the loan.

Loan-to-Value Ratio (LVR) must be between 60% and 95%.

Lenders Mortgage Insurance (LMI) required if LVR exceeds 80%.

Must provide identification documents, such as a driver's license or passport.

Property must be located in Australia.

Important Notes

LMI is required for loans with an LVR above 80%, impacting overall costs.
Bankwest offers special programs like the Technology Graduate Program, which may include financial benefits.
Proof of income and identification documents are essential for the application process.
Potential borrowers should be aware of limited branch access due to recent closures.

Bankwest Home Loan Pros & Cons

Our expert take on whether Bankwest is right for you

Pros

+Rates below market average, offering savings
+Multiple offset accounts available
+Flexible repayment options
+No progress payment fees for construction loans

Cons

–Significant decline in customer service satisfaction
–Limited branch access due to closures
–High annual fee for Complete Home Loan Package

Best For

Borrowers seeking low interest rates
Homeowners wanting multiple offset accounts
First-home buyers needing high LVR options
Tech-savvy individuals comfortable with online banking

Not Ideal For

Customers needing extensive in-person branch support
Borrowers wary of digital-only banking transitions

💡

Bheja Verdict: Bankwest offers competitive home loan rates below market average with flexible features, but recent shifts to a digital-first model may impact customer service experience.

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, increasing to $12,500 at 90% LVR and $21,000 at 95% LVR.

2A $750,000 loan incurs $9,000 LMI at 85% LVR, $18,750 at 90% LVR, and $31,500 at 95% LVR.

3For a $1,000,000 loan, LMI is $12,000 at 85% LVR, $25,000 at 90% LVR, and $42,000 at 95% LVR.

4No LMI waivers are available, making it crucial to consider the impact of higher LVRs on overall costs.

Fee Waivers

Fee waivers available for virtual cards linked to Easy Transaction Accounts and Offset Transaction Accounts, subject to specific requirements.

Offset Benefits

A $10,000 offset saves $52/month, totaling $624/year.

A $25,000 offset saves $129/month, totaling $1,548/year.

A $50,000 offset saves $258/month, totaling $3,096/year.

A $100,000 offset saves $516/month, totaling $6,192/year.

Admin & Logistics (The Help Desk)

Everything you need to manage your loan

Application Process

5 Steps

Complete the Discharge Authority Form: Download and fill out the Discharge Authority form. Ensure all parties involved in the loan have signed the form. (Tip: Double-check that all signatures are present to avoid delays.)

Submit the Form to Bankwest: Send the completed form to Bankwest via mail or through their online submission portal. (Tip: Keep a copy of the submitted form for your records.)

Pay Applicable Fees: Ensure payment of any applicable fees, such as the Discharge Settlement Attendance Fee. (Tip: Check if your loan package offers any fee waivers.)

Wait for Processing: Bankwest will process your discharge request, which typically takes 10-15 business days. (Tip: Contact customer support at 13 17 19 if you need updates or assistance.)

Settlement Booking: Coordinate with Bankwest and any other involved parties to book the settlement date. (Tip: Ensure all parties are available on the chosen settlement date.)

Processing Times

Discharge Process10-15 business days

Required Documents

Discharge Authority form

💡

Pro Tips

Submit the Discharge Authority form at least 2 weeks before your planned settlement date.
Verify if any additional fees apply to your specific loan package.
Contact Bankwest customer support for any clarifications or assistance.
Keep track of all communications with Bankwest for reference.
Ensure all loan repayments are up-to-date before initiating the discharge process.

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 3-5 business days for conditional approval, up to 10 days for full approval, and up to 15 days for unconditional approval, depending on the complexity of your application.