Finding the best rates…
Bank One
Best available
From 5.79% p.a.
Line-up
145 live products
Compare Bank of Melbourne and Bankwest home loans in March 2026. Bank of Melbourne offers rates from 5.79% p.a. across 145 products, while Bankwest starts at 5.69% p.a. with 106 products. Bankwest currently has the lower rate by 0.10%.
145 live products
Best available rate
Fixed Rate Home Loan (Fixed 1 Yr)
Highest ranked offer currently surfaced for this bank on the compare page.
Comparison
6.26%
Offset
Not included
Redraw
Included
106 live products
Best available rate
Bankwest Simple Home Loan (Variable)
Highest ranked offer currently surfaced for this bank on the compare page.
Comparison
5.72%
Offset
Included
Redraw
Included
Live edge
Bankwest is lower on headline home loan rate by 0.10%, which is roughly $42 per month on a $500,000 loan.
Feature Comparison
Side-by-side view of the strongest offers surfaced above.
| Feature | Bank of Melbourne | Bankwest |
|---|---|---|
| Interest rate | 5.79% | 5.69% |
| Comparison rate | 6.26% | 5.72% |
| Offset account | No | Yes |
| Redraw | Yes | Yes |
Every tracked home loans option from Bank of Melbourne.
Every tracked home loans option from Bankwest.
Bank of Melbourne's lowest variable rate is 5.79% p.a. (comparison rate 6.26%) while Bankwest starts at 5.69% p.a. (comparison rate 5.72%). Bankwest is 0.10% lower, which saves approximately $42/month on a $500,000 loan.
Key features: Bank of Melbourne includes redraw, Bankwest includes offset, Bankwest includes redraw.
| Feature | Bank of Melbourne | Bankwest |
|---|---|---|
| Interest Rate | 5.79% | 5.69% |
| Comparison Rate | 6.26% | 5.72% |
| Offset Account | No | Yes |
| Redraw Facility | Yes | Yes |
Common Questions
Bankwest currently offers the lower variable rate at 5.69% p.a. compared to 5.79% p.a. Always check the comparison rate for a true cost picture.
Bank of Melbourne does not include an offset account. Bankwest offers an offset account.
Bank of Melbourne's lowest variable rate is 5.79% p.a. (comparison rate 6.26%) on the Fixed Rate Home Loan (Fixed 1 Yr).
Bankwest's lowest variable rate is 5.69% p.a. (comparison rate 5.72%) on the Bankwest Simple Home Loan (Variable).
Bank Two
Best available
From 5.69% p.a.
Line-up
106 live products
| Annual Fee | $395 | $0 |
Bankwest currently offers a 0.10% lower home loan rate.
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