What’s the comparison rate?

It’s a tool that can help you identify the truer cost of a loan. It’s calculated using a standard formula that includes the interest rate, as well as certain fees and charges relating to a loan (not all fees and charges are included).

Comparison rate warning:

Comparison rate is calculated on the statutory assumption of $150,000 loan over 25 years but the minimum required loan amount is $200,000 for the Complete Home Loan Package. Different rates apply for different loan amounts and may depend on the duration of a fixed rate period or the ratio of the loan amount to the property value. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Loans for a property to live in vs. loans for an investment purpose
Loans for a property to live in – also known as owner-occupier loans – include (but aren’t limited to) loans to fund the purchase of a property or refinance an existing loan, where the borrower currently lives or intends to live in the property.

Loans for an investment purpose – also known as investor loans – include (but aren’t limited to) loans where the predominant part is used to invest in shares, land, construction or an established property. They also include refinancing an investor loan.

1. Offset Transaction Account must be held in the same name as the loan account. Other exclusions apply. Maximum 40% offset is available with our Complete Fixed Home Loan.
   

2. Home loan cashback promotion is available to Australian residents aged 18+  who refinance a property with a new Bankwest home loan.
   

   • Home loan application must be submitted for full approval within the promotional period 12 November 2020 and 30 September 2021
   • Home loan must be funded on or before 30 November 2021
   • Lending must be new to Bankwest (refinances of existing Bankwest and CommBank loans are excluded from this offer)
   • Lending must not exceed a loan to value ratio (LVR) of 80%
   • Repayment type can be principal and interest or interest only
   • Available on owner occupier and investor home loans
   • Minimum home-loan-specific refinance amount ≥$250k (excludes debt consolidation of personal loans and credit cards)
   • Any available Bankwest home loan product is eligible
   • Normal lending policies apply
   • This offer is not available in conjunction with any other promotions
   • Only one cashback per Eligible Customer. Only one cashback per eligible home loan. Where a home loan has more than one applicant and one applicant receives the cashback, all applicants are deemed to have received the cashback. Maximum cashback amount of $2,000.

   See full T&Cs (PDF)

3. Offset Transaction Account must be held in the same name as the loan. Maximum 40% offset is available with our Complete Fixed and Fixed Rate Home Loan. Other exclusions apply. Where a monthly offset fee applies, it will apply to each offset account held.

Complete Home Loan Package:
Lending and eligibility criteria, and fees and charges apply – including an annual package fee of $395. Available to individuals and eligible family trusts. Minimum initial loan size $200,000. Rates are subject to change. Package consists of an eligible home loan, one optional eligible credit card per customer and up to nine optional Offset Transaction Accounts per loan.

Digital signing excludes home loan transfers. Other exclusions apply. You must have access to a device (computer or tablet recommended) with internet and email access to sign your loan documents electronically. DocuSign is a registered trademark of DocuSign, Inc.

Some exclusions apply for the use of the Home Loan application tracker.