Bankwest Easy Saver account

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Bankwest Easy Saver
Maximum variable rate
5.15% p.a.
Base interest rate
3.85% p.a.

Our verdict

Earn 5.15% p.a. for the first 4 months then 3.85% p.a. ongoing, with no conditions to meet.

This account could suit you if you’re looking for a decent return on your savings but you don’t want to worry about meeting any ongoing conditions. You’ll get 5.15% p.a. for the first 4 months then an ongoing rate of 3.85% p.a. after that.

The ongoing 3.85% p.a. rate is a bit lower than what you could get elsewhere, but there are no conditions to meet! Balances of $250,001 and higher will get a lower 4-month variable rate of 4.75%, followed by an ongoing rate of 2.00%.

Pros

  • Maximum variable rate of 5.15% p.a. (base rate 3.85% p.a.)
  • Earn interest on balances up to $250,000.99
  • Make withdrawals and still be eligible for interest

Cons

  • The bonus rate is only for the first 4 months

In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question

The Bankwest Easy Saver account offers an introductory bonus rate of 5.15% p.a. for new account holders for the first 4 months after opening the account. After the introductory period ends, the rate will revert to the standard variable rate, currently 3.85% p.a.

Note that the interest you can get with this account is lower if your balance is $250,001 or higher. In this case you get a 4-month introductory rate of 4.75% and then an ongoing rate of 2.00% after that.

There are no monthly deposit conditions to meet and you can make withdrawals at any time while still being eligible for interest.

Details

Key details

Product Name Bankwest Easy Saver
Maximum Variable Rate 5.15% p.a.
Standard Variable Rate 3.85% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $0
Minimum Age 16

Key features

Introductory bonus rate of 5.15% p.a.

New customers will earn a bonus interest rate of 5.15% p.a. for the first 4 months after opening the account. You can earn this rate on balances up to $250,000.99.

This bonus rate is not available if you've had the bonus rate on an Easy Saver account in the last two years.

Lower rates for larger balances

For balances of $250,001 and higher you will get a 4-month variable rate of 4.75%, followed by an ongoing rate of 2.00%.

Ongoing interest rate of 3.85% p.a.

After the 4 month period ends the rate will revert to the standard variable rate, currently 3.85% p.a. You can earn this rate on balances up to $250,000.99.

Launch savings calculator


How to apply

Eligibility

Check first to make sure that you are able to meet the eligibility requirements:

  • Personal account. This account is only for individual use, not joint holders, companies or SMSFs
  • Age. You need to be aged 16 years or older
  • Address. You must have a valid Australian residential address
  • Existing account. If you already have an Easy Saver account, you will not be permitted to open another.

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Alison Finder

Editorial Manager, Money

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