- Bankwest home loans has an average rating of 1.7/5 on ProductReview. There are mixed reviews, with the main complaints being about inconsistent loan approval criteria, poor communication, last-minute document demands, and a lack of support for customers in financial hardship.
- Top 3 reasons to choose Bankwest:
– Multiple offset accounts (up to 9) for better money management
– Backed by Commonwealth Bank stability with its own customer support team
– Streamlined digital application process and excellent app features - Key drawbacks to consider:
– Branch access is limited outside of Western Australia
– Some of the most competitive rates require a large deposit
– Cashback offers are not always available - Bankwest is ideal for first home buyers, refinancers and investors looking for digital tools, offset flexibility and competitive rates backed by a major bank.
Who Is Bankwest?
Bankwest is a Perth-based lender and subsidiary of the Commonwealth Bank of Australia. Originally founded in 1895, Bankwest has grown into a modern lender with strong digital capabilities and a wide range of home loan options.
While it benefits from the financial backing of a major bank, Bankwest operates with its own product range, customer support, and identity. It's especially popular among WA residents, but its digital tools and loan features make it a competitive option for borrowers Australia-wide.
Bankwest Home Loan Customer Reviews
Shout out to Luke from the home loans team who went the extra mile to help us finalise our application before settlement. Professional, responsive, and genuinely helpful—couldn’t have asked for better service.
Taj Singh
Very happy with Bankwest. We refinanced to a lower rate and the process was efficient from start to finish. The app is also a nice bonus—being able to manage everything from our phone makes life much easier.
Tahlia Mitchell
Special thanks to Sarah who helped us restructure our mortgage after a job change. She was patient, listened to our needs, and made the whole thing much less stressful than we expected. That level of personal care is rare.
Ryan Chen
The online tools and calculators from Bankwest made it easy to get a clear idea of what we could borrow, which helped us plan ahead. The actual loan application was just as smooth and everything was finalised on time without any surprises.
Olivia Russo
We’ve just completed our third property purchase with Bankwest, and once again, it was a smooth ride. They’ve consistently offered great rates and responsive service, and the consistency over time is what keeps us coming back.
Ethan Bugley
The support we received from Bankwest when switching our home loan over was excellent. They kept us informed at every stage and took the time to make sure we understood all the terms. It made a big difference having such a proactive team behind us.
Samantha Nguyen
I had some concerns early on, but once I got through to the right person at Bankwest, things were sorted quickly. In the end, we got a great rate and the process was much easier than expected. Communication could be a bit faster, but overall very happy with the result.
Dylan Hart
After shopping around, we ended up choosing Bankwest for our refinance and couldn’t be happier. The rate we received was competitive, and the turnaround time was fast. Their online portal is also very easy to use, which made the paperwork part much less painful.
Maya Collins
As first home buyers, we were a little overwhelmed, but Bankwest made the process simple and straightforward. The loan options were clearly explained, and we always felt supported, even when we had lots of questions. Would definitely recommend to others in the same boat.
Anthony Reid
We recently settled our home loan with Bankwest and the whole experience was incredibly smooth. From application to settlement, everything was communicated clearly, and the digital process made it really easy to upload documents and track progress. Very impressed.
Laura Benson
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Types of Bankwest Home Loans
Bankwest offers a wide variety of home loan products suitable for different borrower types:
Variable Rate Loans
- Suitable for owner-occupiers and investors
- Redraw facility and up to 9 offset accounts
- No annual fee on some options
- Great for borrowers wanting flexibility or planning to make extra repayments
Fixed Rate Loans
- Lock in interest rates for 1–5 years
- Rate lock available (fees apply)
- Split loan option available
- Suitable for those who want predictable repayments
Low Deposit & First Home Buyer Loans
- Borrow up to 95% LVR with LMI (only 5% deposit needed)
- Bankwest participates in government-backed schemes like the First Home Guarantee
- Offers tools and guides for first-time buyers
Investor Loans
- Interest-only or Principal & Interest
- Multiple property borrowing supported
- Offset and redraw options available
- Ideal for growing a property portfolio
Refinancing Loans
- Competitively priced refinance options
- Flexible repayment setups
- Cashback offers available from time to time
Bankwest Interest Rates & Fees
Bankwest offers competitive rates across its product range, particularly for borrowers with large deposits or lower LVRs. Rates vary depending on the loan type, repayment method, and borrower profile.
- Package loans offer discounted rates and bundle everyday banking with home lending
- Application fees and ongoing fees vary depending on the product
- Some fixed rate loans come with a $395 annual fee
- Variable rate loans can offer fee-free options with redraw and offset
While Bankwest’s rates may not always be the lowest in the market, they’re generally competitive — especially when factoring in features like multiple offsets and digital banking. For the latest interest rates and fees for your specific situation, speak to a mortgage broker for FREE guidance. They can also help you compare Bankwest's products with over 70+ other banks and lenders to ensure you are getting the best deal.
Key Features of Bankwest Home Loans
Here are some standout features that make Bankwest home loans unique:
- Multiple Offset Accounts: Up to 9 accounts on some variable rate loans
- Digital Tools: Highly rated mobile app, budgeting features, online redraw
- Flexible Repayments: Choose between P&I or interest-only (if eligible)
- Split Loans: Combine fixed and variable portions
- Parental Guarantee Options: Help from parents to reduce your deposit burden
- Redraw Facility: Access extra repayments when needed
- Green Loan Options: For energy-efficient home upgrades (available via personal loan products)
Pros & Cons of Bankwest Home Loans
Pros:
✅ Multiple offset accounts help manage your savings and reduce interest
✅ Strong app and digital platform for modern banking
✅ Flexible loan products suitable for a range of buyers
✅ Government scheme support for low-deposit first home buyers
✅ Trusted brand with the stability of CBA behind it
Cons:
❌ Branches mainly located in WA – not ideal if you prefer face-to-face support
❌ Cashback offers are seasonal and may not always be available
Is Bankwest a Good Lender?
Bankwest is a strong option for borrowers who want the backing of a big bank with the flexibility and features of a modern lender. It's particularly well suited for:
- First home buyers using government incentives
- Borrowers who want multiple offset accounts
- Refinancers looking for competitive rates and digital ease
- Investors needing flexibility and interest-only options
While it may not always offer the absolute lowest rate, the combination of features, technology, and security make Bankwest a solid all-rounder.
How to Apply for a Bankwest Home Loan
You can apply directly through the Bankwest website, visit a branch in WA, or use the free services of a mortgage broker who can compare your options and guide you through the process.
What you’ll need:
Proof of ID
Income documents (e.g. payslips or tax returns)
Living expense breakdown
Details of existing debts or liabilities
Deposit or savings records
Application process:
Online pre-approval available in under 30 minutes
Full approval can take a few days to a week depending on complexity
A mortgage broker can speed things up and help with document preparation
Need Help Choosing the Right Bankwest Loan?
Let Eden Emerald Mortgages help you compare Bankwest home loans with hundreds of other options across the market. Whether you’re buying, refinancing, or investing, we’ll negotiate the lowest interest rates on your behalf, and find a deal that works for your goals. Our services are 100% free for you, (we are paid a commission by the lender), so there is no downside to working with us.
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Get Your Mortgage Approved
To get started on your journey of securing a home loan, fill in the form below, and an experienced mortgage broker will contact you about your personal situation. You can also call us directly on (02) 9188 9398.
