Digital bank (CBA subsidiary) AFSL 050192 · Online, app, broker; minimal WA branch presence
Bankwest is a wholly owned subsidiary of Commonwealth Bank of Australia, holding AFSL 050192. Originally the Bank of Western Australia, Bankwest was acquired by CBA during the 2008 financial crisis and has since been operated as a CBA subsidiary with its own brand and product suite. Bankwest's roots are deeply West Australian — it was founded in Perth in 1895 and remains the most recognised banking brand in WA.
Since around 2022, Bankwest has been progressively moving toward a digital-first model. Branch closures in WA accelerated and new customers are now primarily acquired online. The Bankwest brand trades on its WA heritage and competitive digital pricing, backed by CBA's balance sheet and technology infrastructure.
Market position: Digital bank (CBA subsidiary) — WA heritage, competitive pricing, CBA backing
Digital tools: Bankwest app — full digital banking, mortgage management, CBA infrastructure
Best suited to: Borrowers wanting competitive rates and good digital tools from a CBA-backed lender.
Like all major Australian lenders, Bankwest offers a range of home loan types to suit different borrower needs. Rates change frequently — this guide does not quote specific figures. Use our repayment calculator with current Bankwest rates from their website.
Bankwest offers variable, fixed (1–5 years), split, IO investment, and construction home loans. Its Complete Home Loan packages an offset account, credit card, and transaction account with fee waivers. The Simple Home Loan is a lower-rate no-frills option with redraw only.
Because Bankwest is a CBA subsidiary, its home loans are ultimately funded and risk-managed on CBA's balance sheet. This means Bankwest's credit assessment is consistent with CBA's standards — a useful data point if you've been pre-approved by CBA and are comparing.
Bankwest rates are typically priced more competitively than CBA's own brand for the same product features — this is deliberate, as Bankwest targets digital-first customers CBA might not otherwise win. Source current figures from Bankwest's website and use our repayment calculator.
| Feature | Available |
|---|---|
| Offset Account | ✓ Yes |
| Redraw Facility | ✓ Yes |
| Split Loans | ✓ Yes |
| Mobile App | ✓ Yes |
Feature availability applies to Bankwest's standard variable product. Some features may be product-specific — confirm with Bankwest before applying.
Borrowers wanting competitive rates and good digital tools from a CBA-backed lender.
This is a general guide based on Bankwest's market positioning and product structure. Individual eligibility depends on your income, credit history, deposit size, and existing liabilities. Use our borrowing capacity calculator to estimate what you may be eligible for before speaking to Bankwest.
Bankwest applications are primarily online and app-based. The branch network in WA has been significantly reduced, with most new applications now processed digitally. Bankwest's online application process is built on CBA's technology stack and benefits from the same automated income verification available to CBA customers.
Mortgage brokers are well-supported through Bankwest's broker channel. For WA borrowers specifically, broker relationships with local WA-based brokers who know Bankwest's credit team can be an advantage. Self-employed and complex income applications should go via a broker where possible.
Bankwest may request additional documents depending on your situation. Confirm the full checklist at application.
Bankwest sits in an interesting position: it has the backing of CBA but prices more aggressively. This creates a specific negotiation dynamic.
CBA parent arbitrage: If you are also a CBA customer, you can approach CBA's retention team with a Bankwest quote. CBA knows that its own subsidiary is cheaper — this creates internal pressure to retain you at CBA with a sharper rate, rather than see you switch to Bankwest.
WA-specific leverage: Bankwest's WA customer base is particularly sticky. Long-term WA customers with WA-based properties are valued. Mention your WA tenure and any WA property portfolio.
Digital-first acknowledgement: Bankwest knows it has reduced its branch presence significantly. If you've stayed through branch closures without complaining, acknowledge this in the retention conversation — you're demonstrating loyalty that wasn't rewarded by better service.
ING and ubank benchmark: These are Bankwest's most direct rate competitors. An ING or ubank written quote is the right tool to present. Bankwest has matched these in retention cases when the customer has a clean LVR and payment history.
Be ready to follow through. Retention teams can see your account history. If you threaten to refinance, have a genuine pre-approval in hand — it makes your position credible and ensures you have a real alternative if Bankwest doesn't move.
If you are struggling to meet your home loan repayments, Bankwest has a dedicated hardship team. Australian lenders are required under the National Consumer Credit Protection Act to have a hardship process, and banks have obligations to assist borrowers facing genuine financial difficulty.
Bankwest Hardship Team
13 17 19Contact Bankwest as early as possible if you anticipate difficulty — proactive contact leads to better outcomes than waiting until you miss a payment.
For independent, free financial counselling, call the National Debt Helpline on 1800 007 007. Financial counsellors can help you understand your options and negotiate with your lender on your behalf.
Before deciding on a lender, compare at least three options. Your borrowing scenario, LVR, and income type will determine which lenders can offer you the best combination of rate, features, and service.
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Use our free calculators to model your repayments, check your borrowing capacity, and compare scenarios before contacting any lender.
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