Bankwest home loan rates and products in 2026

Bankwest inside the CBA group

Bankwest is owned by Commonwealth Bank and operates as a separate brand with its own customer base, branch network in Western Australia, and national digital presence. From a credit perspective, Bankwest sits within the CBA group risk policy framework; from a brand perspective, it operates with its own pricing tier, marketing, and customer service.

For Western Australian borrowers, Bankwest has the strongest local heritage and the densest WA branch network. For borrowers in other states, Bankwest operates primarily as a digital lender with broker-channel access. The CBA group ownership means the credit decision a borrower receives at Bankwest is broadly aligned with what CBA would decide on the same file, but the brand pricing can differ.

Complete Variable versus Complete Package

Bankwest's two main variable products are Complete Variable (no annual fee, no offset included) and Complete Home Loan Package (bundled package with offset, credit card, annual fee). The package discount scales with loan size in the standard packaged-lender pattern.

For the maths to favour Complete Home Loan Package, the offset balance interest saving needs to outweigh the annual fee. For borrowers with a meaningful savings buffer running as offset, the package typically wins. For smaller loans or thin offset balances, Complete Variable is the more honest pick.

Western Australian market exposure

Bankwest's WA exposure is meaningful. The Cotality April 2026 data showed Perth still rising at +2.1 per cent month-on-month, the strongest of any capital, supported by low listings. For WA borrowers, Bankwest brings local market knowledge and on-the-ground support that a national Big 4 mobile lender cannot match.

The other side of the WA exposure is the mining services slowdown commentary that Westpac flagged in its 1H FY26 results. CBA group exposure is structured differently and the headline arrears commentary at CBA has not pointed to WA specifically, but the underlying state-level employment data affects all WA lenders to some degree.

Investor and FHB schemes

Bankwest writes investor home loans at the standard 25 to 40 basis-point premium over owner-occupier P&I. Bankwest was not on Housing Australia's list of 5% Deposit Scheme participating lenders when we checked on 10 October 2026, so a WA first home buyer who wants the scheme needs a lender on that list.

What is the current Bankwest home loan rate?

Bankwest publishes current variable and fixed home loan rates on its home loans page. The rate that applies after package discount depends on loan size, LVR and product tier. A broker on the CBA group panel can quote the discount tier that applies to your file.

Is Bankwest owned by CBA?

Yes. Bankwest is wholly owned by Commonwealth Bank of Australia. The two brands operate with separate branch networks and pricing tiers but share the same group credit policy framework.

Does Bankwest offer offset accounts?

Yes, on the Complete Home Loan Package. The Complete Variable does not include offset by default. Fixed rate products do not include offset.

Is Bankwest good for WA first home buyers?

For Western Australian first home buyer files, Bankwest offers local heritage and on-the-ground branch support. It was not on Housing Australia's list of 5% Deposit Scheme participating lenders on 10 October 2026, so a buyer relying on the scheme's guarantee to avoid LMI needs a participating lender instead.

How does Bankwest compare to CBA directly?

Bankwest sits under CBA group credit policy but operates as a separate brand with its own pricing. A broker comparing across the CBA group will occasionally surface a sharper rate at Bankwest than at CBA itself, particularly on package products. For non-WA borrowers, CBA direct is often the more straightforward path.