Savings accounts that stack up
Compare savings accounts
Easy Saver
High interest savings account
An award-winning flexible savings account for dipping in and out of.
- No fees
- Earn interest with no withdrawal or deposit requirements
- Comes with a fee-free linked Easy Transaction Account
Win an Interesting Rate of 11.50% p.a. fixed for 4 months
Open an Easy Saver in the mobile Bankwest App using a code for your chance to win. 50 lucky winners each month during the 3-month competition period will get our Interesting Rate on balances up to $250,000.99. Entry open to WA, NSW, VIC and QLD residents 18+ only. Competition T&Cs apply.
Hero Saver
Bonus interest savings account
A savings account that rewards you when you grow your balance.
- No fees
- Earn bonus interest when you grow your balance each month
- No linked Bankwest bank account required
Tap to set goals
Level up your savings account with Goals in the app.
Give it a name
Sailing lessons or surrealist art collection? Rename your account to match your goal.
Track your progress
Keep yourself motivated as you move towards your target amount and deadline.
Save on auto
Set and forget with recurring transfers to put aside money regularly.
Common questions
Savings accounts
A savings account lets you earn interest on your money while keeping it easy to access.
- Interest is usually calculated daily and paid regularly (often monthly).
- You can add money whenever you like.
- You can generally withdraw money when you need it (though some accounts may have conditions to earn bonus interest, such as not making any withdrawals).
- Ideal if you want flexibility and ongoing access to your savings.
Term deposits
A term deposit involves locking away a set amount of money for a fixed period at a fixed interest rate.
- You’ll know exactly how much interest you’ll earn by the end of the term.
- You usually can’t add more money during the term.
- Access to your money is limited until the term ends.
- Early withdrawals are generally only allowed in specific circumstances, such as financial hardship, or with 31 days’ notice.
- Best suited if you’re happy to leave your money untouched for a set time.
At Bankwest we have two savings accounts Easy Saver and Hero Saver. We also offer term deposit accounts.
An introductory rate is a higher interest rate offered for a limited time when you open a new savings account. Once that time is up, your account earns interest at the ongoing rate.
At Bankwest, if you haven’t received an introductory rate on an Easy Saver in the past two years, you may be eligible for a higher introductory rate for the first four months after opening your account. This is a variable rate, which means it can change at any time, including during the introductory period.
A bonus interest rate is extra interest that may be paid on top of the standard rate. Bonus interest is usually earned through meeting specific product conditions.
Interest rates vary depending on the type of savings account and whether you’re earning the standard variable rate or a promotional rate, such as introductory or bonus interest rates.
Savings account interest rates can go up or down at any time.
For the most up-to-date interest rates visit the Bankwest rates page.
Every savings account is different. At Bankwest, for Easy Saver and Hero Saver, interest is:
- Worked out daily based on the money in your account
- Paid into your account monthly, on the first business day of each month.
When interest rates are shown as “p.a.” (per year), it means the yearly rate is used to work out how much interest you earn each day, based on your daily balance.
Smart ways to stay on top of your money
Things to consider
- Apple, the Apple logo and Apple Pay are trademarks of Apple Inc. App Store is a service mark of Apple Inc. Bankwest Apple Pay Terms of Use apply.
- Android, Google Play and the Google Play logo are trademarks of Google LLC. Bankwest Google Pay Terms of Use apply. Google Pay and Google Wallet are trademarks of Google LLC.
- Bankwest Samsung Wallet Terms of Use apply. Samsung and Samsung Wallet are trademarks of Samsung Electronics Co Ltd.
- Canstar’s 2026 Outstanding Value awards recognise products offering outstanding value to consumers as part of Canstar’s Star Ratings & Awards. Find more about the awards and categories.
Bankwest ‘Interesting Rates’ Competition
‘Bankwest ‘Interesting Rates’ Competition’ (Promotion) is conducted by Bankwest (Promoter) and runs from 9:30am (AWST) on 1 September 2026 to 6:00pm (AWST) on 30 November 2026 (Promotion Period) (see full Bankwest ‘Interesting Rates’ Competition Terms and Conditions PDF). Open to individuals who reside in WA, NSW, VIC or QLD, are 18 years or over, are eligible to open a Bankwest Easy Saver account and are not employees of the Promoter, involved in the Promotion or management of the Promoter or any other benefitting organisation. Entry through opening a Bankwest Easy Saver account via the Bankwest App and applying one of the following promotion codes in the ‘code’ box when opening the account: ‘DENIM’, ‘PUG’ or ‘PERMS’ during the Promotion Period. Max 1 entry and 1 prize per person. The first 150 eligible entries randomly drawn will each receive an interest rate of 11.50% p.a. for 4 months on balances up to $250,000.99 on their Bankwest Easy Saver account valued at up to $9,688.39. Total prize value: up to $1,445,382. Random electronic prize draws conducted at the offices of Trade Promotions and Lotteries Pty Ltd (ACN 601 297 330), Level 13, 477 Pitt St, Sydney NSW 2000. Eligible entrants will be placed into 1 of 3 draws based on their Bankwest Easy Saver account open date. For Bankwest Easy Saver accounts opened from 1 September 2026 to 30 September 2026, the draw will be at 11:00am (AWST) on 6 October 2026. For Bankwest Easy Saver accounts opened from 1 October 2026 to 31 October 2026, the draw will be at 11:00am (AWST) on 11 November 2026. For Bankwest Easy Saver accounts opened from 1 November 2026 to 30 November 2026, the draw will be at 11:00am (AWST) on 9 December 2026. Winners notified by email within 5 business days of the relevant draw and must have their Bankwest Easy Saver account open until then in order to be able to receive the prize. Each winner’s first initial, last name and postcode will be published on the Promoter’s website within 30 days of the relevant draw date. Prizes which cannot be delivered to a winner will be forfeited. Winners should consider seeking advice from the Australian Tax Office or their own taxation adviser or independent financial adviser if they are unsure of the tax implications that may arise from their prize. Entrants should review the applicable terms and conditions for their Bankwest Easy Saver account as they will apply to the prizes. Permit: NSW Authority No. TP/05238 (NTP/17797)
# Rates
Rates are variable and subject to change.
Easy Saver
- The variable introductory rate is paid on a tiered basis on all balances in the account.
- The Easy Saver variable introductory rate only applies to new accounts. Not available if you’ve previously held an Easy Saver account with an introductory rate that expired within the last 2 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 standard variable rate applicable at that time. T&Cs subject to change.
- This introductory rate offer is available for a limited time only and the Bank reserves the right to terminate this offer at any time.
- Must link to an Easy Transaction account. Limit one account per customer – not available for joint accounts.
- Fees and charges may apply and subject to change.
Hero Saver
- To earn the variable bonus rate, the account balance (excluding interest) at the close of business hours on the last business day of the month must be higher than at the first business day of the month, otherwise you will earn a standard variable interest rate for that month.
- For balances over $250,000.99 and up to $5,000,000.99, the standard variable interest rate also applies.
- Interest is calculated at the applicable rate on the portion of the balance that falls within each of the tiers.
- Rates are variable and subject to change.
