Bankwest online term deposit

Open a Bankwest online term deposit with as little as $1,000 and choose from terms ranging from one month to 60 months.

The minimum amount you require to open a new Bankwest online term deposit is $1,000, and you don’t have to pay any account keeping fees. The term of your deposit can vary from one month to 60 months, with a number of options in between.

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Up to 0.5% p.a.

Interest rate

24 months interest rate

$1,000

Minimum opening deposit

$0

Account keeping fee

$5,000,000

Maximum deposit

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Details

Product NameBankwest Online Term Deposit
3 month interest rate0.20%
4 month interest rate0.20%
6 month interest rate0.40%
7 month interest rate0.25%
9 month interest rate0.25%
12 month interest rate0.45%
24 month interest rate0.50%
36 month interest rate0.50%
48 month interest rate0.50%
60 month interest rate0.50%
Minimum Opening Deposit$1,000
Minimum Age Requirement12
The rates displayed above are interest rates paid at maturity only. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide.

Key features

Minimum investment of $1,000

The minimum you can invest in this online term deposit is $1,000, so you can get on the savings bandwagon without requiring too much money. The maximum you can invest is $5,000,000.

Linked transaction account required

This account requires you to link it to an Australian transaction account held by you with Bankwest or another financial institution. The linked account must be in the same name, or names if a joint account, as the one listed on the term deposit. Interest is paid into the linked transaction account, and a withdrawal from your term deposit account can only be made to this linked account.

Launch term deposit calculator


How to apply

Applying for a Bankwest online term deposit is easy, and the online application does not take much time to complete.

Eligibility

  • You are at least 12 years of age
  • You have at least $1,000 to invest

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32 Comments

    Default Gravatar
    Norman
    August 23, 2019

    If we are looking at a 4 or 6 month term, can the interest earned be added to the principal and term deposit renewed at maturity without the interest being paid into a nominated account?

      Default Gravatar
      Ash
      August 24, 2019

      Hi Norman,

      Thank you for contacting Finder.

      Yes, you may request for the principal deposit as well as the interest earned be deposited once you renew your Term Deposit Account. You have to make the necessary request 7 days before your maturity so that Bankwest can process it. You will be sent a Confirmation Letter for the changes that you have requested to be made.

      I hope this helps.

      Please do not hesitate to reach out again to us if you have further questions.

      Cheers,
      Ash

    Default Gravatar
    Margaret
    July 16, 2019

    I have a Bankwest Business Zero Transaction Account, and I am wondering if this can be transferred to a Term Deposit Account.

      Avatarfinder Customer Care
      Jhez
      July 16, 2019

      Hi Margaret,

      Thank you for your comment.

      Your Bankwest Business Zero Transaction Account cannot be converted to a term deposit account. You’ll need to apply for a new separate term deposit account. To apply, please visit Bankwest’s website and make an online application.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.

      Regards,
      Jhezelyn

    Default Gravatar
    Bob
    April 9, 2019

    Can you tell me if Bankwest or ME bank do 60-day term deposits? They don’t mention them on their internet sites. Thank you!

      Avatarfinder Customer Care
      Joshua
      April 9, 2019

      Hi Bob,

      Thanks for getting in touch with Finder. I hope all is well with you. 😃

      Upon checking, both Bankwest and ME bank offers 60-day or 2-month term deposit. You can learn more about ME bank term deposits.

      For Bankwest, you can read the details above.

      I hope this helps. Should you have further questions, please don’t hesitate to reach out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    Gallou
    April 1, 2019

    Rate term deposit 12 months?

      Default Gravatar
      Nikki
      April 2, 2019

      Hi Gallou,

      Thanks for getting in touch! As it says on our page, the interest rate for 12 months is 2.45% and the rate displayed is paid during maturity only. As a friendly reminder, review the eligibility criteria of the account before applying and read up on the terms and conditions as well.. Feel free to reach out to the bank if you have any clarifications. Hope this helps!

      Best,
      Nikki

    Default Gravatar
    Graeme
    October 3, 2018

    Where is the application form for online term deposits? I searched the page and couldn’t find it.

      Avatarfinder Customer Care
      Jhez
      October 3, 2018

      Hello Graeme,

      Thank you for your comment.

      If you’re referring to the online application of Bankwest Online Term Deposit, you can see the form when you visit Bankwest’s website, search for the Online Term Deposit and click apply today.

      Please make sure that you’ve read the relevant T&Cs or PDS of this account to help consider whether the product is right for you.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

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