In branch term deposit

The Gold Term Deposit lets you lock in a fixed rate for a range of periods from one month to five years.


Face to face support

If you’re a new or existing customer, we can help get you set up in a branch.

Consider your options

Enjoy seven calendar days' grace when your deposit matures to work out if you want to withdraw or reinvest.

Build wealth

Invest from $5,000 up to $2,000,000.

How it works

  • Set up your term deposit

    Apply in a branch, or call us if you’re an existing customer. Choose a term that suits you and transfer your chosen amount (minimum $5,000) into your term deposit, and watch your money earn interest.
  • Once your term deposit matures

    You have seven days' grace period to decide whether you want to withdraw your funds or reinvest them. If you do nothing by the end of your grace period, your funds will be automatically reinvested at the same term at the rate applicable at the time of maturity.
  • If your situation changes

    Changes aimed at strengthening the banking system mean we require 31 days' notice if you want to withdraw your funds before the maturity date. This can also affect the interest that we pay you. You can still access your money at maturity and during the grace period. 1


Show me

Term Maturity/
Half-yearly Quarterly Monthly
1 month 0.25% p.a. - - -
2 months 0.40% p.a. - - -
3 months 0.55% p.a. - - -
4 months 0.55% p.a. - - -
5 months 0.55% p.a. - - -
6 months 1.00% p.a. - - -
7 months 0.75% p.a. - - -
8 months 0.75% p.a. - - -
9 months 0.75% p.a. - - -
10 months 0.75% p.a. - - -
11 months 0.75% p.a. - - -
12 months 2.30% p.a.
2.29% p.a.
2.28% p.a.
2.28% p.a.
24 months 2.30% p.a.
2.29% p.a.
2.28% p.a.
2.28% p.a.
36 months 2.30% p.a.
2.29% p.a.
2.28% p.a.
2.28% p.a.
48 months 2.30% p.a.
2.29% p.a.
2.28% p.a.
2.28% p.a.
60 months 2.30% p.a.
2.29% p.a.
2.28% p.a.
2.28% p.a.
For deposits with a term of 12 months or greater you may ask us to pay your interest monthly, quarterly, six monthly or annually; however, the rate applicable may vary depending on the interest payment frequency (note, interest must be paid at least once a year and cannot be paid only at maturity).

Rates displayed are current and were last updated on 23 June 2022.
Interest rates on offer may vary at any time without notice.

Gold Term Deposit terms and conditions:
The relevant Product Schedule together with all of the related documents form the complete Product Disclosure Statement for this product.

Product Schedule:
Gold Term Deposit Product Schedule (PDF)

Related documents:
Bankwest Term Deposit Terms and Conditions (PDF)

Apply today

Get started in a branch, or call us if you're an existing customer

Check your eligibility

  • Available to people aged 12 and older
  • You can have more than one Gold Term Deposit account, but the total amount invested in these accounts must not exceed $2,000,000, unless Bankwest agrees otherwise
  • Minimum term of the deposit is one month
  • Maximum term of the deposit is five years
  • Minimum deposit $5,000.

  • Photo identification, such as an Australian driver's licence or passport. Or, see a handy list of other ID documents we’ll accept
  • Australian residential address
  • Sufficient funds to transfer as an opening deposit on the day your new account is opened
  • Tax file number (optional).

Find out more about what you may need to provide.

Already bank with us? Call 13 17 19.

What’s the difference between a term deposit and a savings account?


With a savings account, you can access your money at any time, and you earn a variable rate. But to be eligible for this interest rate each month you usually need to meet some requirements (like a monthly deposit or making no withdrawals).

Looking for something else? 

Our other term deposit might be more your style.

  1. You may request the withdrawal of all or part of your funds prior to the maturity date provided that you give 31 days’ notice. If your Term Deposit has less than 31 days to maturity, you will only be able to access funds on the maturity date. The notice period starts on the day you request withdrawal. If you are experiencing hardship and need your funds before maturity, please contact us. If you withdraw all or part of your funds prior to the maturity date, your entitlement to interest in respect of the deposit will be reduced, according to when an early repayment is made. Please refer to the Term Deposits Terms & Conditions for further details.