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Refinance calculator

Simply enter a few details and review the repayment costs to determine whether refinancing your loan may save you money on interest in the long term.
Please note: only selected products are available in calculators. For assistance with other products please contact us.

$2,000 cashback when you refinance to us

If you’re eligible and you apply to move your home loan to us by 28 February 2023, you could get less home load with $2,000 cashback. 1
Enquire now More about home loan refinancing

Loan must be funded by 30 April 2023. Min. refinance amount $250k. For borrowings up to 90% (including lenders mortgage insurance) of the property value. Excludes refinances from Bankwest and CommBank. Eligibility requirements and T&Cs apply.

Image for illustrative purposes only.

Home loan refinance FAQs

Answers at your fingertips

1

How to use this home loan refinance calculator?

Enter details about your property and current home loan in Loan 1. Select a Bankwest loan in Loan 2 and then the calculator will give you an estimate on your savings if you refinanced. Remember, this is just an estimate, so chat to a Home Lending Specialist to get an even better idea of what you might save.

2

How can refinancing help me save?

Refinancing is when you move your home loan to a new provider. People often refinance to get a lower home loan rate and save on their home loan.  Other reasons to refinance could be to consolidate debt, increase your loan amount for renovations or to get a loan with different features, like offsets.

3

How to decide between principal and interest and interest only?

If you choose to make principal and interest repayments, you’re paying down both the loan amount (the principal) and the interest. Interest only repayments only pay down the interest, for a set period of time - usually one to five years. When deciding which repayment type is best for you, chat to a Home Lending Specialist and consider things like your long term goals, financial position and different interest rates.

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Take the next step

Talk to a Home Lending Specialist about how refinancing might save you money – when and where it suits you. Our Mobile Lending Managers even come to you.

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  1. 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 28 February 2023
    • Home loan must be funded on or before 30 April 2023​
    • 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% for applications received from 12 November 2020 to 14 September 2021​​
    • Lending must not exceed a LVR of 90% (including lenders mortgage insurance) for applications received from 15 September 2021 to 28 February 2023
    • 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
    • Eligible customers will receive $2,000 cashback transferred electronically into their new home loan account.

    See full T&Cs (PDF)