5 features to look for in a high-interest, flexible savings account this year

You can grow your savings while still having flexibility if surprise expenses pop up.

It's no secret that high-interest accounts can be annoying to manage.

There can be lots of hoops to jump through. Depositing a set amount each month, growing your balance, making a certain number of transactions… Sometimes they're so difficult and often end up in the too-hard basket!

But the good news is that it doesn't have to be that way. With the right account, you could grow your savings without making it a hassle.

Bankwest Easy Saver Account

1. Give your savings a boost with an intro rate

One way you could give your savings a kickstart is by looking for a savings account that offers a competitive intro rate.

One example is the Bankwest Easy Saver Account. You can earn a competitive intro variable rate of 5.35% p.a. on balances up to $250,000.99 and 4.75% p.a. on balances $250,001 and over during the first four months.

Of course, you need to keep an eye on the ongoing rate, too. To build savings long-term, a healthy ongoing interest rate after any intro rate period helps.

The Bankwest Easy Saver Account offers an ongoing variable rate of 4.00% p.a. for balances up to $250,000.99 and 2.00% on balances $250,001 and over. So you could still grow your savings, even after the intro period.

There aren't any restrictions like needing to deposit a certain amount each month or losing interest if withdrawals are made from the account.

To get an idea of how much you can save, check out the Bankwest Savings Calculator.

2. Earn interest no matter your balance

Some savings accounts don't pay interest above a certain savings limit – which sounds a bit counterintuitive!

With the Bankwest Easy Saver Account, balances $250,001 and over earn a 4.75% p.a. variable intro rate during the first four months.

After the first four months, balances $250,001 and over get an ongoing variable rate of 2.00% p.a.

This can mean any amount of savings will still be able to grow.

3. Earn interest even if you move money around

Life happens! Emergencies pop up, cash is needed and you've got to dip into your savings.

The problem is that sometimes you can miss out on earning interest.

With the Bankwest Easy Saver Account, get monthly interest even if money is moved in and out. Plus, it doesn't require a minimum monthly deposit.

4. No monthly fees

With some savings accounts, unnecessary fees can chip away at your savings over time.

The Bankwest Easy Saver Account doesn't charge any fees.

Features like this can help minimise costs and allow you to save more efficiently.

5. Access to an everyday account

Being able to easily transfer funds between an everyday account and a main savings account can be a handy feature.

The Bankwest Easy Saver Account comes with a linked Easy Transaction Account.

The Easy Transaction Account is designed for everyday spending. There's no monthly account fee or minimum monthly deposit required.

Plus, it also comes with a Platinum Debit Mastercard, which features no foreign transaction fees.

You can manage your accounts through the Bankwest App and easily transfer money between an Easy Transaction Account and Easy Saver.

Learn more about the Bankwest Easy Saver Account

• More info about Bankwest

  Consider the PDS available from Bankwest before deciding whether the product is right for you. Easy Saver 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. 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 welcome letter. At the end of the introductory rate term, the account reverts to the Easy Saver variable rate. T&Cs subject to change. Local and overseas ATM operator fees may charge a fee for the Easy Transaction Account and are subject to change. Target Market Determinations are available at bankwest.com.au/tmd. Consider the Bankwest App Terms of Use and associated PDS available from Bankwest before deciding whether the product is right for you. Fees and charges may apply.