Complete Variable Home Loan Package

Make your money work for you with a less lazy home loan. Enjoy our great variable rates, plus the flexibility to add other good stuff – like multiple offset accounts and an eligible credit card. See how it works below. 1 Offset Transaction Account must be held in the same name as the loan account. Other exclusions apply.

A taster of our great rates

They’re something to smile about.

How the Complete Home Loan Package works

For an annual package fee of $395, you get a Complete Variable Home Loan, plus the flexibility to add on features to help you manage your mortgage and money your way.

For a less lazy home loan, you can choose to add...

Add up to nine offset accounts

Slice and dice your money into multiple offset accounts to help you manage your money while saving on home loan interest. Use an offset like an everyday bank or savings account where the balance in each account is reduced from your home loan balance, reducing the overall interest you pay. 1 Offset Transaction Account must be held in the same name as the loan account. Other exclusions apply.

An eligible credit card

Our Breeze Mastercard® in the Classic or Platinum tier has our low ongoing purchase rate, while our Bankwest More Mastercard in the Classic or Platinum tier and our Bankwest Qantas Platinum Mastercard let you earn points.

Pick one to suit your needs and pay no annual credit card fee. Other fees and charges may apply. 2

Why choose our Complete Variable Home Loan Package?

Ability to split or switch your loan

You could choose to split between variable and fixed. You can also switch between the two at any time later on with no transfer fee. 3 Other fees and charges, such as break fees on a fixed rate loan, may apply.

Flexible repayments

Pay weekly, fortnightly or monthly to suit your pay cycle. Plus, make unlimited extra repayments to help pay your loan off faster. 4 If you decide to pay interest only, only monthly repayments are permitted.

Home loan redraw

Access your extra repayments for free when you need, or even use your surplus to take a break from making repayments. 5 There is no minimum redraw amount, including transactions completed over the counter.

Save on fees

$0 home loan application fee and property valuation fees. Other fees and charges may apply.

5 tips to help you manage your Complete Home Loan Package​

See how multiple offset accounts and an eligible credit card could potentially help you save on home loan interest, pay off your loan sooner, and manage your finances. Check out our five tips to help you make the Complete Home Loan Package work for you.
5 tips to help you manage your Bankwest Home Loan Package

Easy digital application experience

Track your application online in real time with our Home Loan Application Tracker. You can also sign your loan documents online anytime. 6 7

Want to get closer to your goals?

Whether you’re renovating, building a house or buying an investment property, the flexibility of our Complete Home Loan Package could help you get there.

Great for construction

No progress payment fees apply for construction loans. Find out more about construction loans.

Investor savings

Get a minimum 50% discount on a depreciation schedule prepared by Deppro Pty Ltd. 12 If you take out a Bankwest home loan for investment purposes, you will be contacted by Deppro Pty Ltd. Bankwest does not endorse or approve the depreciation schedule prepared by Deppro Pty Ltd.

Apply for additional lending or reduce your limit

This lets you renovate, upsize, downsize or invest in property. Lending criteria applies.

Variable interest rates and fees

Get a discount off Bankwest’s standard variable rate. 8

Understand the difference between loan purposes (a property to live in vs. an investment)

Show me detailed rates and fees for

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Rates – borrowings up to 95% (including Lenders Mortgage Insurance) of the property value 9 Where inclusion of Lender's Mortgage Insurance results in increased LVR, different rates may apply.
Amount you want to borrow Variable rate Comparison rate
$200,000+ 3.24% p.a. 3.68% p.a.
Rates are for principal and interest repayments 10
Understand the
comparison rate
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Rates – borrowings 95.01% - 98% (including Lenders Mortgage Insurance) of the property value 9 Where inclusion of Lender's Mortgage Insurance results in increased LVR, different rates may apply.
Amount you want to borrow Variable rate Comparison rate
$200,000+ 4.87% p.a. 5.28% p.a.
Rates are for principal and interest repayments 10
Understand the
comparison rate
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Rates – borrowings up to 90% (including Lenders Mortgage Insurance) of property value
Amount you want to borrow Variable rate Comparison rate
$200,000+ 4.17% p.a. 4.59% p.a.
Rates are for principal and interest repayments 10
Understand the
comparison rate
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Fees
Fee Amount
Annual Package fee ? This is charged to the nominated home loan. $395
Transfer fee 11 $0
Redraw fee 5 There is no minimum redraw amount, including transactions completed over the counter.
$0
Settlement attendance fee (Legal disbursement fee) ? Applies when we take a new security.  $250
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Note: When you buy a property, other fees may apply, including government and bank fees. Calculate the upfront costs of buying a home.

Rates and fees are subject to change. A full list of fees will be set out in your home loan contract.

Download the Key Facts Sheet for this product.

Looking to fix your loan?

We also offer a fixed rate package option.
See if our Complete Fixed Home Loan package will suit you.

Still exploring your options?

Browse our home loans

…and find one to suit you.

Calculate home loan repayments

Work out what your mortgage repayments could be and discover how much you could save if you made extra repayments.

Calculate your borrowing power

Find out how much you can borrow and calculate what your repayments might be based on your income and regular expenses.

Calculate home loan fees and stamp duty

Get an estimate on stamp duty, lenders' mortage insurance and other non-standard home buying fees that come with purchasing a property.

Calculate how much you could save

Compare the repayments on Bankwest home loans and find out if refinancing your loan may save you money on interest in the long term.

Start your application online

Check your eligibility

  • You must be 18 years or older
  • You must be a permanent Australian resident
  • Minimum loan size $200,000
  • Available to individuals and eligible family trusts
  • You must meet Bankwest's lending criteria.

  • Financial details, including your income, expenses, assets and liabilities
  • Two forms of identification, like your Australian Driver’s licence, Medicare card or Australian passport.

Things you will need after you submit online

All home lending applications are required to hold evidence of building insurance prior to settlement or final progress payment. Bankwest will not book settlement without this in place.

See a detailed list of what you may need

Already started? Track your application.

Frequently asked questions

Info at your fingertips

1

What is a home loan package?

It's a home loan with other features and services included, like offset accounts and credit cards, under one package fee.

2

How an offset account can benefit my home loan?

An offset account is a bank account that's linked to your home loan and the money in that account will offset your home loan – so you pay less interest. You can still use it like a normal bank account too and might be able to open multiple.

3

Can I switch my current home loan to the Complete Variable Home Loan Package?

It's easy to switch your current variable home loan, we'll just need some information first. Chat to a Home Lending Specialist to get started and they'll help you from start to finish.​

4

How to fix my home loan interest rate?

If you're interested in fixing your home loan, or splitting your loan - it's easy. To get started, chat to a Home Lending Specialist who will take you through it.

Need help picking a home loan?

If you're ready to buy, refinance or invest, our Home Lending Specialists are here to help. Book a time to suit you – you can talk on the phone, meet at a branch, or have a Mobile Lending Manager come to you.

[Voice Over]: Getting a new home loan is one of life’s biggest commitments.

[Description]: Image of pram.

[Voice Over]: Ok, maybe second biggest.

Still, you want to make sure you’re getting the best one you can.

Like a home loan that gives you both control and flexibility.

We like to call it the Complete Home Loan Package. Because with the option to add up to 9 offset accounts and our low rate or rewards Mastercard® credit card, well, it kind of is.

To help you take advantage of its features, here are 5 tips to help you manage your finances, save money and hopefully, pay off your loan sooner.

[Description]: Tip number 1 – Make the most of your offset account.

[Voice Over]: An offset account is an everyday transaction account that’s linked to your home loan.

You can use it just like any other transaction account.

The difference is that any money you have sitting in your offset account is offset against your home loan balance. This reduces the amount on which interest is calculated on that day, which helps you pay down the principal on your loan quicker.

Here’s an example: Let’s say you have a variable home loan balance of $400,000, and you put $20,000 into an offset account. By doing this, you’ll only pay interest on $380,000 of your loan balance rather than $400,000.

The more money you have in an offset account, the bigger the interest savings and the faster you could pay off your loan.

Oh, the account also comes with a Bankwest Mastercard Debit Card. So, yeah, winning.

Which brings us to our next question;

Why would you need up to 9 offset accounts? Well, having multiple offset accounts gives you the control to manage your money your way.

You might want an account for bills, an emergency fund or maybe you’re planning a trip away. You can bucket your money as you like, all while reducing the amount of interest you pay.

[Description]: Tip number 2 – Use your optional credit card.

[Voice Over]: Your Complete Home Loan Package includes an optional Mastercard eligible credit card.

When you use it for everyday transactions, or to pay bills, you can keep funds in your offset account for longer which helps reduce the interest payable on your home loan and may also reduce the amount of time it takes to pay off your home loan.

Plus, you pay no annual credit card fees on your eligible Mastercard.

If you chose a rewards credit card and use it for everyday purchases, you'll also maximise the points you earn.

Remember though, it’s important you pay off your whole credit card statement balance by the due date to avoid being charged fees and interest. If you forget, or you overspend, then the fees and interest charged on your credit card might outweigh the interest you saved by utilising your offset accounts.

[Description]: Tip number 3 – Set up an Easy Alert.

[Voice Over]: Need help remembering when your credit card repayment Is due? Don’t worry, you’re not alone. Just set up an Easy Alert in the Bankwest App and you’ll receive a notification to help make sure you never miss a payment again.

[Description]: Tip number 4 – Make more frequent repayment.

[Voice Over]: With the Complete Home Loan Package, you can choose to make your home loan repayments weekly, fortnightly or monthly, as long as the total amount always meets your minimum monthly repayment. This might make things easier if you get paid weekly or fortnightly.

Of course, there’s another benefit to making repayments more frequently. As we calculate interest every day the more frequent your repayments the lower the interest calculated will be.

[Description]: Tip number 5 – Make extra repayments to save interest

[Voice Over]: If you’re able to, you could also consider making extra repayments to your home loan.

Why? Well, it’s pretty simple – the more you pay off, the less interest you’ll pay.

And even if you make a small extra repayment every week, the savings over the life of your home loan can be huge.

Our fixed rate home loans let you make extra repayments up to a set amount each year, however, our variable rate home loans let you make unlimited repayments to help you save more on interest and pay your loan down even faster.

Oh, and one more thing; when you make extra repayments to your home loan, you can access it through a redraw facility. This money can come in handy when you need it, and helps to save on interest when you don’t.

So, there you have it. Five simple ways to reduce your interest, pay off your home loan and get your Complete Home Loan Package working for you.

For more information, ‘Ask us’ in the Bankwest App, or call us on 13 17 19. We’re available 24 hours a day, 7 days a week.

Bankwest. Bank Less.

Things you should know:

Lending and eligibility criteria, fees and charges apply, including an annual package fee of $395. Terms and conditions apply and are available on request. The Complete Home Loan Package is available to individuals and eligible family trusts. Minimum loan size $200,000.

Maximum 40% offset is available with our Complete Fixed Home Loan. Consider the Offset Transaction Account Product Disclosure Statement (PDS) available from bankwest.com.au and whether the product is right for you.

Debit Mastercard is only available to Australian Citizens, Permanent or Temporary Residents over 16 years of age with an Australian residential address. Other fees and charges, including foreign transaction fees may apply. Daily withdrawal limit of $2,000 applies. Mastercard is a registered trademark of Mastercard International Incorporated and the circles design is a trademark of Mastercard International Incorporated.

Under the package, only one optional eligible credit card is allowed per customer. Other fees and charges may apply.

Limited alerts available for credit cards. Alerts will be sent to any compatible iOS and Android device on which you have the Bankwest App and enabled notifications. Terms of Use apply.

Important things you should know. Please note that any advice is of a general nature only and does not take account of your personal objectives, financial situation or needs so please consider whether it is appropriate for you.

Bankwest, a division of Commonwealth Bank of Australia ABN 48 123 123 124 AFSL/Australian credit licence 234945

Back to video

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.

Other conditions apply.


  1. Offset Transaction Account must be held in the same name as the loan account. Other exclusions apply.

  2. Under the package, only one optional Bankwest Qantas Mastercard, Bankwest More Mastercard or Breeze Mastercard account is allowed per customer. Minimum credit limit is $3,000 for the Bankwest Qantas Platinum Mastercard, $1,000 for the Bankwest More Classic Mastercard and the Breeze Classic Mastercard, and $6,000 for the Bankwest More Platinum Mastercard and Breeze Platinum Mastercard.

  3. Other fees and charges, such as break fees on a fixed rate loan, may apply.

  4. If you decide to pay interest only, only monthly repayments are permitted.

  5. There is no minimum redraw amount, including transactions completed over the counter.

  6. Digital signing – some exclusions apply. Due to state laws, restrictions apply to digitally signing the Mortgage Form in some States and Territories. Customers must have access to a device (computer or tablet recommended) with internet and email access.

  7. Application tracker not available on lines of credit. Other exclusions may apply.

  8. For owner occupiers the standard variable rate is the variable Mortgage Shredder Reference Rate or the variable Mortgage Shredder Interest Only Reference Rate. For investment purposes the standard variable rate is the Investor Reference Rate or the Investor Interest Only Reference Rate. See our home loan reference rates.

  9. Where inclusion of Lender's Mortgage Insurance results in increased LVR, different rates may apply.

  10. Different rates apply for interest only repayments. Contact your Home Lending Specialist or call us on 13 17 19 to find out more.

  11. No transfer fee when transferring loans within the Complete Package, or when transferring from another Bankwest home loan on to the Complete Package.

  12. If you take out a Bankwest home loan for investment purposes, you will be contacted by Deppro Pty Ltd. Bankwest does not endorse or approve the depreciation schedule prepared by Deppro Pty Ltd.

Package consists of an eligible home loan, one optional eligible credit card per customer and up to nine optional Offset Transaction Accounts per loan.

The Complete Home Loan Package is closed when all home loans included in the package are closed.

Mastercard and the circles design are registered trademarks, and tap & go is a trademark, of Mastercard International Incorporated.

Bankwest Easy Alerts are available for your mobile personal transaction and savings accounts. Limited alerts only are available for credit card transactions. Bankwest Easy Alerts will be sent to any compatible iOS and Android device on which you have the Bankwest App and enabled notifications. Whilst some alerts may be sent to your device once you have enabled notifications, in order to receive the full range of Easy Alerts available you will also need to activate the Bankwest Easy Alerts service within the Bankwest App. Terms of Use apply. Bankwest Easy Alerts is currently supported on iOS 11 and Android 5.0 devices and above. Bankwest Easy Alerts is not available on tablets and Windows devices.

The information contained on this web page is of a general nature and is not intended to be nor should it be considered as professional advice. You should not act on the basis of anything contained in this web page without first obtaining specific professional advice. Also to the extent permitted by law, Bankwest, a division of Commonwealth Bank of Australia ABN 48 123 123 124 AFSL / Australian credit licence 234945, its related bodies corporate, employees and contractors accept no liability or responsibility to any persons for any loss which may be incurred or suffered as a result of acting on or refraining from acting as a result of anything contained on this web page.