Bankwest is a well-established Australian financial institution and a fully-owned subsidiary of the Commonwealth Bank of Australia (CBA). Originally founded in 1895 as the Agricultural Bank of Western Australia, it has grown to become a key banking institution in Australia.
Overview
Bankwest is known for its customer-centric approach, focusing on simplicity and convenience with a strong digital presence. In a significant move, Bankwest is transitioning to a digital-only bank, with the closure of its branch network. This transition allows Bankwest to focus on improving its digital and broker banking services. While operating independently, Bankwest benefits from the resources and stability of its parent company, CBA.
Main Products and Services
Home Loans
- Variable Rate Home Loans: These loans offer flexibility with features such as unlimited additional repayments and redraw facilities. Options include the Bankwest Simple Home Loan and the Complete Variable Home Loan Package.
- Fixed-Rate Home Loans: These loans provide the security of fixed repayments for a set period. Bankwest offers both a standard Fixed Rate Home Loan and a Complete Fixed Home Loan Package.
Savings and Transaction Accounts
- Transaction Accounts:
- Easy Transaction Account
- Offset Transaction Account
- Retirement Advantage Account
- Savings Accounts:
- Easy Saver
- Hero Saver
- Term Deposits:
- Bankwest Term Deposit
Credit Cards
Bankwest offers a range of credit cards to suit different needs, including:
- Bankwest Breeze Mastercard
- Bankwest More Mastercard
- Bankwest Qantas Mastercard
- Bankwest Zero Mastercard
Personal Loans
- Unsecured Personal Loans: Available for various purposes like debt consolidation, car purchase, or holidays, with fixed interest rates.
Popular Products
Savings Accounts
The Bankwest Easy Saver account is currently offering a variable introductory interest rate of 4.80% p.a. for the first 4 months on balances up to $250,000. This account is linked to an Easy Transaction Account and has no monthly fees.