Quick Overview

Available with Bankwest?

Bonus Interest

✅

$250,000 Deposit Guarantee

✅

Osko Payments

✅

ATM Access

✅ via linked transaction account

No Regular Fees

✅

Pay ID

✅

Joint Savings

✅

Zero Foreign Transaction or ATM Fees?

✅ via linked transaction account

Bankwest Hero Saver Explained

The Hero Saver is a popular savings account with bonus interest criteria to earn the top interest rate.

  • To attain the top rate, every month savers must deposit $200 and make no withdrawals.

Should you fail to meet this monthly criteria, a much lower rate of base interest applies for that month.

This rate applies on balances up to $250,000. Balances exceeding this receive a lower rate. No linked transaction account is required to setup this account.

Bankwest Easy Saver Explained

The Easy Saver is Bankwest’s introductory rate product. Customers can receive a higher rate for four months with no deposit criteria.

After the four months is up, a lower ongoing rate applies. The special rate applies on balances up to $250,000 and lower rates apply thereafter.

A linked transaction account is required, and unlike the Hero Saver, joint accounts aren’t allowed. After the four-month period is up, you won’t be eligible to take advantage of a new intro rate for two years.

How to Get Started

Opening a savings account is easy with Bankwest and can be completed in minutes. The requirements are:

  • You're a real person (i.e. not a company)

  • You're aged 16 years or over

  • You don’t have an existing Bankwest Easy Saver Account already (if applying for the Easy Saver)

  • If opening an Easy Saver, you're the only account holder

  • Link the transaction account for the Easy Saver; no linking required for the Hero Saver

  • Have your Tax File Number (TFN) handy to avoid paying the maximum marginal rate on your savings interest