Bankwest Shredder 1 Yr Intro

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Headline interest rate p.a.
Comparison rate p.a.
Annual fee

Moneybuddy says

Bankwest's Mortgage Shredder 12 Month Intro home loan is perfect for borrowers that do not have a big deposit, as this home loan product enables borrowers to borrow up to 95% of the value of their new home (conditions apply). What makes this product different to Bankwest's Mortgage Shredder home loan, is that it provides clients with an introductory interest rate which is 1% lower than the standard Mortgage Shredder rate for the first year of the loan.

The Basics

Max LVR 95.00%

Interest type Variable rate

Headline interest rate p.a. 5.09%

Comparison rate p.a. 6.05%

Annual fee $180

The cool stuff: features

Draw down loan progressively -

Insurance details -

Loan is Transferable -

Line of credit available No

Product suits Owner - Occupier

The Facts & Figures

Introductory rate p.a. 5.09%

Introductory term 1 year

Interest rate (p.a.) 1 year 5.09%

Interest rate (p.a.) 2 years 5.89%

Interest rate (p.a.) 3 years 5.89%

Interest rate (p.a.) 4 years 5.89%

Interest rate (p.a.) 5 years 5.89%

Interest rate (p.a.) 7 years 5.89%

Interest rate (p.a.) 10 years 5.89%

Interest rate (p.a.) 15 years 5.89%

Comparison rate (p.a.) 1 year 6.54%

Comparison rate (p.a.) 2 years 6.93%

Comparison rate (p.a.) 3 years 6.93%

Comparison rate (p.a.) 4 years 6.93%

Comparison rate (p.a.) 5 years 6.93%

Comparison rate (p.a.) 7 years 6.93%

Comparison rate (p.a.) 10 years 6.93%

Comparison rate (p.a.) 15 years 6.93%

Minimum loan term -

Maximum loan term -

Min loan amount -

Max loan amount -

Early repayments Yes

Redraw facility Yes

Repayment holiday No

Ability to split loan -

Extra repayments Yes

Offset account available Yes

Interest only payments -

The ugly stuff: fees

Application fee $695

Valuation fee -

Subsequent valuation fee -

Valuation fee details -

Discharge fee -

Discharge fee details -

Legal fee -

Settlement fee -

Redraw fee -

Comparison Rate Disclaimer -

All product information comes from the product provider or an affiliate and to the best of our knowledge is correct at time of publishing. MoneyBuddy endeavours to keep product information up to date however we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. We recommend that you check the accuracy of all information provided on this website with the product provider. MoneyBuddy earns a referral fee from redirecting website users to a product provider's website. Further details are provided in relation to specific product information. Website users have no obligation to apply for a product or service that they may be referred to by this website.

Warning: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Bankwest says

Don’t have a big deposit? Don’t worry. With a Mortgage Shredder Home Loan you can borrow up to 95% of the value of your new home (conditions apply).How can you save more? To help you shred interest even further, you also have the options of a 100% offset facility and making extra repayments without penalty. Make as many transfers into your offset account to help reduce your balance and interest repayments

Key features

  • Variable rate home loan
  • $695 application fee
  • $180 annual fee
  • 100% offset facility available
  • Extra repayments permitted penalty free
  • Redraw facility
  • Minimum deposit 5%


  • No monthly fees
  • No penalty for early repayments
  • Construction loan available


  • Application fees and annual fees
Interested in this home loan?

We can pass your details on directly to a home loan expert from the bank, who will contact you within 24 hours to discuss your situation.


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We've partnered with Tomorrow Finance for home loan data, advice and details. You will be contacted within 24 hours by a home loan expert from the bank to discuss your situation. There is no obligation to complete the home loan. You are simply making an enquiry.

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