Bankwest Home Loan Rates

Bankwest is a Perth-born bank owned by the Commonwealth Bank, and since 2024 it has operated as a digital-only bank: it closed its remaining branch network that year, converting some regional Western Australian branches to CBA, after 97% of its transactions had already gone digital.

Freed of branch costs, Bankwest now competes on price and digital service nationally while keeping its Western Australian identity. Its range splits neatly in two: a low-cost Simple Home Loan where offset accounts are paid for one at a time, and the Complete Home Loan Package where an annual fee buys the offsets and waives the per-event fees.

Who suits a Bankwest home loan?

Bankwest tends to suit borrowers comfortable with app and phone banking who want CBA-group backing at sharper-than-big-four pricing, and it remains a strong sentimental pick for Western Australians. Offset users with one account are usually better off on the Simple Home Loan; anyone wanting several offsets tends to land in the Complete package instead. If you need branch access, its parent CBA covers that; if not, compare Bankwest's comparison rate against the digital leaders in the table above.

Background facts checked 5 September 2026. Rates above refresh independently.

The line-up as published by Bankwest, checked 5 September 2026. Today's rate for each product is in the table above.

Application or establishment fee

Variable loans, Application fee $(695) waived. Fixed Rate loans, $295

Discharge fee

$338.20

Settlement fee

$0

Additional valuation fee

$226.36

Rate lock fee

Greater of 0.15% of the total amount (inc fees financed into the loan) or $450.

Loan portability

$350 Portability Fee + $300 Discharge Preparation Fee + $300 Settlement attendance fee

Offset account

100% offset, Mortgage Shredder (inc Intro), 100% offset, Fixed Rates, 40% offset

Minimum offset balance

> $0

Lenders mortgage insurer

Arch

Capitalising LMI

LMI can be capitalised to max LVR

Maximum total lending

Max subject to serviceability

Extra repayments on fixed

Yes, up to $10k pa

When the fixed rate is locked

Rate set at settlement but can pay a fee to fix on application

Checked 4 Sept 2026. Lender fees and policy change without notice, so confirm the detail with the lender before you apply.

• The Complete Home Loan Package costs $395 a year. In exchange the offset accounts carry no monthly fee, up to nine of them, and the loan increase and progress payment fees drop to nil.
• On the Simple Home Loan an offset account costs $10 a month per account, so two offsets cost twice as much as one. On a Fixed Rate Home Loan offset is free during the fixed term and $10 a month afterwards.
• Offset on a Bankwest fixed rate loan is partial, capped at 40% of the balance, where the variable products offset 100%.
• Bankwest charges a $350 settlement fee and no application fee on these loans. Loan increase is $295 and progress payments $80 each on the Simple Home Loan, and nil on both inside the Complete package.
• Bankwest publishes its rate tiers from just above 60% up to 80% of property value, and lends up to 90% of property value including lenders mortgage insurance on investment lending. Insurance is payable where the deposit is under 20%.
• Bankwest closed its remaining branches in 2024 and now operates digital-only, converting some regional Western Australian branches to its parent Commonwealth Bank. It does not appear on the Australian Government 5% Deposit Scheme participating lender list as at 3 September 2026.