Bankwest home loans start from 6.19% per annum. That’s for a Simple Home Loan, owner-occupier, up to 60% LVR, current as at 20 August 2026. Before you apply, there’s a practical fact most comparison pages skip: Bankwest closed its branch network in 2024. It now operates as a broker-and-digital lender only. Here’s the full rate table, what that digital-only shift actually means, and what CBA ownership does and doesn’t get you.
Quick Answer: Bankwest Home Loans
As of 20 August 2026, Bankwest’s cheapest variable rate is 6.19% per annum (6.22% comparison rate). That’s on the Simple Home Loan, for owner-occupiers borrowing up to 60% of the property value. Investors start from 6.44% per annum on the same product tier. Bankwest is fully owned by Commonwealth Bank. But it’s a separate lender with its own products, application process, and rates. CBA ownership doesn’t get you a CBA discount. Since 2024, Bankwest has had no physical branches. Home loans are handled through mortgage brokers, phone support, and its digital app.
Bankwest Home Loans: Current Rates by Product
Rates below are current as at 20 August 2026, sourced directly from bankwest.com.au. Bankwest’s own rate page doesn’t display a “current as at” date. Cross-check this table against the live page before relying on it for a decision.
| Product | LVR | Rate (p.a.) | Comparison rate |
|---|---|---|---|
| Simple Home Loan (owner-occupier) | ≤60% | 6.19% | 6.22% |
| Simple Home Loan (owner-occupier) | 60.01-80% | 6.24% | 6.27% |
| Simple Home Loan (owner-occupier) | 80.01-90% | 6.49% | 6.52% |
| Simple Home Loan (investor) | ≤60% | 6.44% | 6.47% |
| Simple Home Loan (investor) | 60.01-80% | 6.49% | 6.52% |
| Complete Variable (owner-occupier) | varies | from 6.24% | up to 8.74% |
| Complete Fixed, 1-5 years (owner-occupier) | ≤80% | 6.49-6.79% | 7.28-7.32% |
The Complete Variable and Complete Fixed products carry an annual package fee. In exchange, they include an offset account — a feature the Simple Home Loan doesn’t have. If you want to reduce interest by parking savings against your loan balance, that’s the tier to look at, not the cheapest headline rate.
Bankwest Home Loans Have No Branch Network Behind Them
This is the fact none of the major comparison sites state plainly. Bankwest confirmed in a 2024 announcement that it was transitioning to a fully digital bank. Jason Chan, the bank’s Executive General Manager, said at the time: “I understand this will be difficult news for some of our customers.” Forty-five branches closed. Support for home loan customers moved to mortgage brokers, phone banking, and the Bankwest app instead.
Practically, that means you won’t walk into a Bankwest branch to discuss your application. Most Bankwest home loans are originated through a mortgage broker rather than a direct application. That’s not unusual for the sector. But it’s worth knowing if you were expecting the in-person experience of a traditional bank. If face-to-face service during your loan matters to you, factor that in before comparing on rate alone.
What CBA Ownership Actually Means
Bankwest is owned by Commonwealth Bank of Australia. Both InfoChoice and Finder note this in passing. What neither spells out: ownership doesn’t mean shared rates, shared eligibility, or a CBA customer discount. Bankwest runs its own product range, its own credit assessment, and its own rate card, separate from CBA’s home loan business. The two brands compete against each other in the market. If you’re already a CBA customer hoping for some kind of loyalty crossover on a Bankwest loan, there isn’t one. You’d apply as a new-to-Bankwest customer either way.
Simple vs. Complete: Which Bankwest Home Loan Product Fits
The Simple Home Loan carries the lowest headline rate and no ongoing package fee. It skips the offset account and a few extra features too. The Complete Variable and Complete Fixed products cost more, in both rate and an annual fee. But they bundle in an offset account, which can meaningfully cut interest paid over the loan’s life if you keep a real balance in it. A borrower with minimal savings sitting idle gets little benefit from paying for an offset account. Someone who keeps a consistent buffer of a few thousand dollars or more should run the numbers — offset savings can outweigh the package fee.
Are Bankwest Home Loans a Good Choice?
Bankwest’s rates sit competitively against the major banks. Its 6.19% headline rate undercuts several big-four owner-occupier variable rates at the same LVR tier. The trade-off is the service model: no branches, broker-heavy origination, and digital-first support. If you’re comfortable managing a loan primarily online or through a broker, that trade-off may not matter much. If in-person banking is part of what you want from a lender, it’s worth knowing upfront that Bankwest can’t offer it anymore.
FAQ: Bankwest Home Loans
What is Bankwest’s lowest home loan rate?
6.19% per annum (6.22% comparison rate) on the Simple Home Loan, for owner-occupiers borrowing up to 60% LVR, as at 20 August 2026.
Does Bankwest have branches?
No. Bankwest closed its branch network in 2024 and now operates as a broker-and-digital lender, with support through phone, its app, and mortgage brokers.
Is Bankwest owned by Commonwealth Bank?
Yes, Bankwest is fully owned by CBA, but it runs as a separate lender with its own rates, products, and application process — there’s no automatic benefit for existing CBA customers.
Do Bankwest home loans have an offset account?
Only the Complete Variable and Complete Fixed packages include an offset account. The Simple Home Loan, which carries the lowest rate, doesn’t.
Is Bankwest good for investors?
Bankwest’s investor rates start from 6.44% per annum on the Simple Home Loan, up to 60% LVR. That’s competitive, though slightly higher than its owner-occupier tier — standard across the market.
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