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Example Interest Rates: Home Loan Variable: 1.89% (1.9%*) • Home Loan Fixed: 1.84% (2.11%*) • Fixed: 1.84% (2.11%*) • Variable: 1.89% (1.9%*) • Investment IO: 2.05% (4.36%*) • Investment PI: 1.58% (2.72%*)

  Premium Select Home Loan

The Premium Select Home Loan is a variable rate home loan with a discount off the standard variable rate. The product is available for both owner occupied and investment purposes when borrowing up to 90% of the property value. Plus you can link an optional offset facility to your loan to help reduce your interest and pay off your loan faster.
Category: Home Loans  Last Updated May 2, 2022  Effective May 3, 2009

 General Lending Rates

Rates listed below are for a VARIABLE Owner Occupied P&I product. Additional Information
Interest Rate
2.28% PA
Comparison Rate
2.31%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.
Product Variations
Product rates and conditions will usually vary based on the LVR and other conditions..
  LVR
Minimum: 70.01 PERCENT Maximum: 80 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 2.33%, Comparison Rate 2.36%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  LVR
  • Lending Rate Type: Variable
  • Interest Rate: 2.54%, Comparison Rate 2.57%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Investment
  LVR
Minimum: 70.01 PERCENT Maximum: 80 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 2.64%, Comparison Rate 2.67%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Investment
  LVR
Minimum: 80.01 PERCENT Maximum: 90 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 2.68%, Comparison Rate 2.71%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  LVR
Minimum: 80.01 PERCENT Maximum: 90 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 3.09%, Comparison Rate 3.11%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Investment
  LVR
  • Lending Rate Type: Variable
  • Interest Rate: 3.44%, Comparison Rate 3.46%
  • Repayment Type: Interest Only
  • Loan Purpose: Owner Occupied
  LVR
  • Lending Rate Type: Variable
  • Interest Rate: 4.15%, Comparison Rate 4.17%
  • Repayment Type: Interest Only
  • Loan Purpose: Investment

 Product Features

  • Digital Banking Additional Information: You can do your everyday banking through Bankwest Online Banking and the Bankwest App from anywhere, 24/7 - it's easy and secure.
  • Npp Enabled Additional Information: This means you can receive faster payments into this account, often in real time. Keep in mind - this account isn't eligible for PayID.
  • Offset Additional Information: Link up to 9 offset accounts to your Premium Select Home Loan. The money in each offset account reduces the balance on which the interest is charged on your home loan.
  • Other Additional Information: Pay weekly, fortnightly or monthly to suit your pay cycle. Plus, make unlimited extra repayments to help pay your loan off faster.
  • Other Additional Information: A guarantor is someone who agrees to be responsible for repaying a debt owed to us under a loan provided to another individual if the borrower (or borrowers) cannot make their repayments. A guarantor supports the loan by providing us with an additional property as security. By providing a guarantee, we may lend to the borrower in situations where they may not have been able to secure the full amount of the loan they require. Independent legal and financial advice is required for these applications.
  • Other Additional Information: Lenders' Mortgage Insurance (LMI) may apply where there is an increased risk associated with a home loan. The circumstances of your loan determine whether a loan will incur LMI. There is a one-off cost associated with LMI. This LMI premium is not a bank fee or an establishment fee.
  • Other Additional Information: This loan can be used for the purposes of owner occupied or investment property purchases, refinancing your existing home loan, purchasing of vacant land (non-commercial), personal needs, off the plan purchases and building/construction purposes.
  • Other Additional Information: This loan cannot be used for business purposes.
  • Other Additional Information: You can switch between the Premium Select Home Loan and other Bankwest home loan products. Fees and charges may apply.
  • Other Additional Information: Principal & Interest or Interest only options are available.
  • Redraw Additional Information: Access your surplus balance when you need, available via Bankwest Online Banking or at your local branch.

 Product Eligibility

  • Business - Non-individual Borrowers. Additional Information: Non-trading Companies and/or Family Trusts.
  • Min Age - 18.
  • Residency Status Additional Information: Available to Australian citizens or permanent residents and to New Zealand citizens residing in Australia.
  • Natural Person - Individuals.
  • Other Additional Information: Applications for home loans are subject to the Bank's normal credit approval.
  • Other Additional Information: Security of the home loan is located in Australia.

 Bank Fees and Charges

  • Repeat Statement Of Account Fee (Event), Amount: 2.50. Additional Information: Cost is per statement and payable on customer request to issue a copy of a previously issued statement.
  • Statement Faxing Fee (Event), Amount: 4.00. Additional Information: Cost is per statement when a customer requests for a statement to be faxed.
  • Bank Cheque Fee (Event), Amount: 10.00. Additional Information: Payable per cheque required for settlement purposes and each time you request a bank cheque.
  • Arrears Notice Fee (Event), Amount: 35.00. Additional Information: Cost is per notice and payable upon notification that your account is in arrears, during the period the loan is in default.
  • Legal Disbursement Fee (Event), Amount: 250.00. Additional Information: Applies when a new mortgage is being taken. Applies whether the settlement is attended in person or digitally.
  • Preparation Of Discharge Of Mortgage Fee (Event), Amount: 300.00. Additional Information: Payable for the preparation of each discharge of mortgage document.
  • Discharge Settlement Attendance Fee (Event), Amount: 38.20. Additional Information: Payable per settlement and applies whether the settlement is attended in person or digitally.
  • Duplicate Statement Of Account Fee (Event), Amount: 2.50. Additional Information: Cost is per statement and payable when requesting a duplicate statement.
  • Title Production Fee (Event), Amount: 130.00. Additional Information: Cost is per title and payable when Bankwest is required to produce title documents.
  • Search Handling Fee (Event), Amount: 40.00. Additional Information: Cost is per dealing and payable for completion of any search conducted by Bankwest.
  • Progress Payment Fee (Event), Amount: 80.00. Additional Information: Payable on each occasion the Bank makes a progress payment.
  • Home Loan Portability Fee (Event), Amount: 350.00. Additional Information: Fee is payable upon application to Bankwest to substitute an existing security with another security.
  • Home Loan Transfer Fee (Event), Amount: 135.00. Additional Information: Payable on or before the date when your existing loan contract is varied at your request.
  • Default Administration Fee (Event), Amount: 50.00. Additional Information: Cost is per month and payable on issue of a statutory default notice, during the period that your loan is under administration due to being in default.
  • Customer Trace Fee (Event), Amount: 10.00. Additional Information: Payable on each occasion on which Bankwest has to locate you during the period the loan is in default.
  • Express Courier Fee (Event), Amount: 7.87. Additional Information: Payable when Bankwest home loan contracts are delivered by courier to you for signing.
  • Online Redraw Fee (Event), Amount: 0.00.
  • Loan Increase Fee (Event), Amount: 295.00. Additional Information: Payable when you apply to increase the amount of credit or credit limit under an existing loan.
  • Application Fee (Upfront), Amount: 695.00. Additional Information: Includes legal fees for standard mortgage preperation and one standard valuation fee. Any amount in excess of the standard fees are to be met by the customer.
  • Legal Fees (Variable), Amount: Not Listed.. Additional Information: Payable where Bankwest requires external legal services as part of the application.
  • Mortgage Registration Fee (Variable), Amount: Not Listed.. Additional Information: These are payable to Bankwest in reimbursement of Land Titles Office fees. Charges vary depending on the State of lodgement.
  • Discharge Of Pre-existing Mortgage Registration Fee (Variable), Amount: Not Listed.. Additional Information: These are payable to Bankwest in reimbursement of Land Titles Office fees. Charges vary depending on the State of lodgement.
  • Transfer Of Land Registration Fee (Variable), Amount: Not Listed.. Additional Information: These are payable to Bankwest in reimbursement of Land Titles Office fees. Charges vary depending on the State of lodgement.
  • Search Service Fee (Variable), Amount: Not Listed.. Additional Information: These are payable to Bankwest in reimbursement of any title searches required. Charges vary depending on the State and number of searches required.
  • Third Party Fees (including Legal Fees) Associated With The Discharge (Variable), Amount: Not Listed.. Additional Information: These are payable to Bankwest in reimbursement of any third party fees associated with a discharge.
  • Discharge Of Mortgage Registration Fee (Variable), Amount: Not Listed.. Additional Information: These are payable to Bankwest in reimbursement of Land Titles Office fees. Charges may vary depending on the State of lodgement.
  • Security Assessment Fee (Variable), Amount: Not Listed.. Additional Information: Payable when we perform a valuation on any mortgaged real property forming part of the Security after the initial settlement in reimbursement of the valuer's fee.

 Limitations & Restrictions (Constraints)

  • Min Limit of 20000.00 Additional Information: Minimum individual loan size is $20,000.

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