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.


Plan for your future

This term deposit can be opened in a personal name or in the name of a self-managed super fund.

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 0.05% p.a. - - -
2 months 0.10% p.a. - - -
3 months 0.20% p.a. - - -
4 months 0.20% p.a. - - -
5 months 0.20% p.a. - - -
6 months 0.50% p.a. - - -
7 months 0.25% p.a. - - -
8 months 0.25% p.a. - - -
9 months 0.25% p.a. - - -
10 months 0.25% p.a. - - -
11 months 0.25% p.a. - - -
12 months 0.50% p.a.
0.50% p.a.
0.50% p.a.
0.50% p.a.
24 months 0.50% p.a.
0.50% p.a.
0.50% p.a.
0.50% p.a.
36 months 0.50% p.a.
0.50% p.a.
0.50% p.a.
0.50% p.a.
48 months 0.50% p.a.
0.50% p.a.
0.50% p.a.
0.50% p.a.
60 months 0.50% p.a.
0.50% p.a.
0.50% p.a.
0.50% 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 9 April 2021.
Interest rates on offer may vary at any time without notice.

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.