Variable rates are calculated daily and paid on the first business day of the following month.
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Savings accounts
Whether you're working towards a savings goal, like a home or holiday, or to keep some money aside, Bankwest has flexible and high interest accounts to help get you there.
Compare your savings options
Fees and charges may apply to linked accounts. Only one Easy Saver or Hero Saver account allowed per customer.
Benefits
Our savings accounts help you reach your savings goals.
Frequently asked questions
With a savings account, interest is accrued daily on your balance and credited monthly.
With a term deposit, you lock away a set amount of money for a set amount of time at a fixed rate, and funds are only able to be withdrawn during the fixed period in limited circumstances (like in times of hardship or with 31 days' notice).
If you're eligible (and you haven't had an introductory rate on an Easy Saver account in the last two years), you may be offered a higher introductory rate for your first four months on an Easy Saver account. This rate is variable and subject to change daily, including during the introductory period.
The hero rate allows you to earn a bonus interest rate each month that you meet certain requirements on your Hero Saver account (like depositing $200 and making no withdrawals).
Interest rates vary depending on the account and whether you're getting the standard variable rate or a higher rate (like an introductory or hero rate). They're also subject to change daily. Check this page for the most up-to-date interest rates for each product.
The interest rate is calculated daily based on the amount of money in your account, then credited to your account on the first business day of each month.
Looking for something else?
Savings calculator
Use our savings calculator to find out how you could reach your savings goals.
Manage your savings account
Check out our range of guides on managing your savings account.
Frequently asked questions
Find the answers to questions on accounts, cards, home loans and online banking services.
Support
Want to chat? We have a range of contact options to suit your needs.
- The Easy Saver variable introductory rate only applies to new accounts. Not available if you’ve had the introductory rate on an Easy Saver Account in the last two years. Variable introductory rate and term are set out in the welcome letter. At the end of the introductory rate term, the account reverts to the Easy Saver variable rate. T&Cs subject to change.
- A standard variable rate applies each month you make a withdrawal and/or deposit less than $200. A standard variable rate also applies to balances over $250,001 and up to $5,000,000.99. Interest is calculated at the applicable rate on the portion of the balance which falls within each of the tiers.