Skip to main contentGo to search

Savings accounts that stack up

Compare our Easy Saver and Hero Saver savings accounts to find your fit.
See savings rates

Compare savings accounts

Easy Saver

High interest savings account

A flexible savings account for dipping in and out of.

5.20%p.a.

Variable introductory rate

4.25%p.a.
Variable ongoing rate
Rates shown are for balances up to $250,000.99. Different rates apply for different balance tiers.
  • No fees
  • Earn interest with no withdrawal or deposit requirements
  • Comes with a fee-free linked Easy Transaction Account
Learn more

Hero Saver

Bonus interest savings account

A savings account that rewards you when you grow your balance.

4.25%p.a.
Variable Hero rate
0.65%p.a.
Standard variable rate
Rates shown are for balances up to $250,000.99. On balances from $250,001 to $5,000,000.99 the standard variable rate will apply.
  • No fees
  • Earn bonus interest when you grow your balance each month
  • No linked Bankwest bank account required
Learn more
The above rates are variable, calculated daily and paid on the first business day of the following month. Fees and charges may apply to linked accounts.

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.

A linked account is an everyday bank account that’s connected to your savings account. It’s used to move money in and out of your savings account.

At Bankwest, you can open up to one Hero Saver and one Easy Saver account.

Smart ways to stay on top of your money

Explore the app

Things to consider

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 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 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.