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Equaliser Home Loan

A home loan rate lower than the average standard variable rates of ANZ, NAB and Westpac for the first three years. 1

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Refinancing? Get $1,500 cashback

Apply to move your home loan to us by 22 March 2019 and you could enjoy $1,500 cashback.

Min refinance amount $350,000. Eligibility requirements and T&Cs apply. Excludes refinances from Bankwest and CommBank.
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Benefits

Track your application

See your application status in real time with our Home Loan Application Tracker. 4 Application tracker not available on lines of credit. Other exclusions may apply. Close

Competitive rate

Owner occupiers get a discount of 1.51% p.a. off the average of the standard variable rates of three major banks for the first three years. Minimum rate 2.50% p.a. 1

Save on fees

The application fee (usually $695) is waived for a limited time only.

Manage online

Make extra repayments and redraw surplus funds online anytime and pay no fees. 2 A $10 fee and $1,000 minimum redraw applies to other methods of redraw, including over the counter. Close

How it works

Twice a month for the first three years

We calculate the average of the three major banks and adjust your rate accordingly. A minimum rate of 2.50% p.a. applies. 1

After the first three years

You’ll get a discount off our standard variable rate, currently 4.47% p.a. (comparison rate 4.33% p.a.) for owner occupiers. 1
Understand the comparison rate

Rates and fees

Show me detailed rates and fees for

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Rates
Amount you want to borrow Introductory three-year variable rate Comparison rate
$200,000+ 3.86% p.a.
 4.33% p.a.
This loan is available for new borrowings only Understand the comparison rate
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Rates
Amount you want to borrow Introductory three-year variable rate Comparison rate
$200,000+ 5.02% p.a.
 5.19% p.a.
This loan is available for new borrowings only Understand the comparison rate
Swipe
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Fees
Type of fee Amount
Application fee ? Includes legal fees for standard mortgage preparation and one standard valuation fee. Any amount in excess of the standard fees are to be met by the customer. Close $0 (usually $695)
Transfer fee ? $135
Online redraw fee 2 A $10 fee and $1,000 minimum redraw applies to other methods of redraw, including over the counter. Close $0
Settlement attendance fee (Legal disbursement fee) ? Applies when we take a new security.  Close  $250
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Note: When you buy a property, other fees may apply, including government and bank fees. Calculate yours.
Rates and fees are subject to change without notice. A full list of fees will be set out in your home loan contract.
Download the Key Facts Sheet for this product.

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 and Equaliser Home Loan. 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.

Home loan calculators

Home loan repayments calculator

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

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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.

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Calculate potential home loan fees

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

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Home loan comparison calculator

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

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Common (but confusing) home buying terminology explained in plain English.

Knowing more about this feature can help you make the most of it.

We can arrange home insurance packages through our partner CommInsure that are tailored to your needs.

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 only
  • You must meet Bankwest's lending criteria.
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Things you need to get started online

  • 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

Get started

Already applied? Track your application.

More home loan options

Equaliser Home Loan isn’t right for you? Check out some of our other home loan options.

Complete Variable Home Loan Package

Learn more 

The Complete Variable Home Loan comes bundled with an eligible rewards credit card and an offset account, which could help you save on the amount of interest you pay.

Learn more 

Variable Rate Home Loan

Learn more 

Offering a discount variable rate, the Premium Select Home Loan currently has a $0 application fee (usually $695).

Learn more 

Fixed Rate Home Loan

Learn more 

Bankwest’s Fixed Rate Home Loan lets you lock in your interest rate for one to five years.

Learn more 

Need help choosing a loan?

Get in touch with one of our Home Finance Managers, and they'll respond within one business day.

Make an appointment
Find a Home Finance Manager
Call us on 1300 402 694

Things you should know
  1. Bankwest Equaliser Home Loan Annual Percentage Rate is a variable 3 year introductory rate which is the higher of:

    • 2.50% p.a.; or

    • The average of NAB Standard Variable Rate for home loans, Westpac P&I Variable Home Loan (owner occupier) rate, and ANZ Standard Variable Rate for home loans calculated twice per month, less a discount of 1.51% p.a.

    Available to individuals and for new owner occupier loans over $200,000 for up to 80% of the property value with principal and interest repayments only. After the introductory period the rate reverts to the Bankwest Standard Variable Rate for owner occupiers (Mortgage Shredder Reference Rate) less a discount of 1.10% p.a. Different discounts and revert rates apply for loans with investment purposes. Information, including rates and discounts is subject to change.

  2. A $10 fee and $1,000 minimum redraw applies to other methods of redraw, including over the counter.

  3. Home loan cashback promotion is available to individuals who refinance a home loan from another lender to a new Bankwest home loan:

    • Home loan application must be submitted within the Promotional Period starting on 01 February 2019 and closing on 22 March 2019
    • Home Loan must be refinanced from an Other Financial Institution (OFI)
    • Lending must be new to Bankwest (refinances of existing Bankwest and CommBank loans are excluded)
    • Home loan borrowings must not exceed 90% of the property value including lenders mortgage insurance (LMI)
    • Repayment type must be principal and interest
    • Available on owner occupier and investor loans
    • Home loan must be for a minimum refinance amount of $350,000 (debt consolidation of personal loans and credit cards is excluded)
    • Available on any Bankwest home loan product
    • Home loan must be disbursed on or before 31 May 2019
    • 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.

    See full cashback terms and conditions.

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