In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question
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Bankwest Gold Term Deposit

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Bankwest Gold Term Deposit
Interest rate 9 months interest rate
Up to 4.8% p.a.
Minimum opening deposit
$5,000
Account keeping fee
$0
Maximum deposit
$2,000,000

Summary

Open a Bankwest Gold Term Deposit with $5,000 or more and earn 4.75% for 12 months.

The Bankwest Gold Term Deposit offers a range of terms lengths between 1 month and 5 years. You can apply in branch, or call Bankwest if you are an existing customer.

Pros

  • $0 Account keeping fees
  • 7 days of grace when term matures to decide whether to reinvest or withdraw fund
  • Wide ranges of terms from from 1 month to 5 years

Cons

  • 31 days advance notice required in case of withdrawing funds before maturity
  • Minimum investment of $5,000

In this guide

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

Details

Key details

Product Name Bankwest Gold Term Deposit
3 month interest rate 3.75%
4 month interest rate 3.00%
6 month interest rate 4.25%
7 month interest rate 4.00%
9 month interest rate 4.80%
12 month interest rate 4.75%
24 month interest rate 4.40%
36 month interest rate 4.00%
48 month interest rate 4.00%
60 month interest rate 4.00%
Minimum Opening Deposit $5,000
Minimum age requirement 12
Government guarantee Yes

Eligibility

Minimum Age Requirement 12
Joint account availability Yes
Min Deposit $5,000
Available to children Not available for children under 12 years of age

Key features

No account keeping fees

You will pay no monthly charges for this term deposit.

Choose when to receive interest payments

The interest is calculated on the balance daily. For terms of less than one year, the interest will be paid at maturity. For longer terms you can choose to have the interest paid into the account monthly, quarterly, six monthly or annually. Interest payments can be made into another Bankwest account, by cheque, direct credit to an account with another bank or by having it added to your deposit at maturity.

Launch term deposit calculator


How to apply

Eligibility

If you believe the Gold Term Deposit offered by Bankwest has everything that you need, you can apply by visiting your local branch or giving them a call. Unfortunately you cannot apply for this account online.There are some eligibility requirements that you will have to meet first in order for your application to be considered:

  • Minimum age. Applicants should be at least 12 years of age to be considered for a term deposit.
  • Residency requirement. Bankwest offers this savings product to residents of Australia. If you are currently living overseas and have plans on making a move to Australia in the near future, you can contact Bankwest now to begin making your savings plans.

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Westpac Life (18-29 year olds only)
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Standard Variable Rate p.a.
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Rabobank High Interest Savings Account
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Bank of Queensland Simple Saver Account
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St.George Maxi Saver
Maximum Variable Rate p.a.
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Standard Variable Rate p.a.
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Max Variable Rate includes 0.35% p.a. for 3 months for new customers who apply online
AMP Saver Account
Maximum Variable Rate p.a.
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Standard Variable Rate p.a.
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Intro Period
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Government Guarantee
Monthly Max Rate Conditions
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