Bankwest Smart eSaver

Bankwest Smart eSaver

Maximum Variable Rate


Standard Variable Rate


Maintain your savings balance and be rewarded with a bonus interest rate.

  • Ongoing, variable 1.90% p.a. when you link to a Bankwest transaction account and make no withdrawals
  • Available on balances up to $500,000
  • No minimum balance
  • $0 account keeping fees

Product details

The Smart eSaver account gives you a real incentive to save by paying you a bonus interest rate just for making no withdrawals each month. You have to link your savings with a Bankwest transaction account, which will then make managing your savings and making transfers as easy as logging into your account online. With no fees to pay, you can feel confident that your savings are growing at a steady rate.

You must link your Bankwest Smart eSaver account to a Bankwest transaction account to receive the bonus interest.

Product Name
Bankwest Smart eSaver
Maximum Variable Rate
1.90% p.a.
Standard Variable Rate
0.01% p.a.
Bonus Variable Rate
1.89% p.a.
Introductory / Bonus Offer Conditions
1.90% p.a. is valid only if you make no withdrawals each month, otherwise base rate of 0.01% p.a. applies. Exclusive to balances up to $500,000 and customers with a Bankwest transaction account.
Monthly Fee
Minimum Opening Deposit
Minimum monthly deposit for bonus interest rate
Internet Banking
Internet Transaction Fee
Phone Banking
Phone Transaction Fee
Joint application?
Minimum Age Requirement
Maximum Age Requirement
No Maximum Age
Covered by Government Guarantee?
Yes (Up to $250,000 per person, per institution)

What are the features of the Bankwest Smart eSaver savings account?

The award winning Bankwest has packed its Smart eSaver account with benefits that make reaching a savings goal easy. Compare the following features with what other banks offer in their online savings products to see which one fits in best with your savings style. If you decide this account isn't right for you, take a look at the alternative accounts offered by Bankwest.

No monthly account keeping fees

You will not be charged any monthly fees for your savings account, but you may have to pay a fee for the linked account depending on which you choose.

Maximum bonus interest rate of 1.90%

Each month you don't make any withdrawals from the Smart eSaver account you will receive the maximum variable interest rate of 1.90%. A standard variable interest rate of 0.01% is applied to your balance for those months where you make a withdrawal from your savings.

Earn bonus interest on balances up to $500,000

When you don’t make any withdrawals from the account in a calendar month, you are rewarded with a variable competitive interest rate on balances of up to $500,000.

Interest calculated daily

The interest is calculated daily and paid into your account on the first day of the subsequent month.

No monthly deposit requirement

There is no minimum deposit requirement for each month.

Must have linked Bankwest account

You need to have an active Bankwest transaction account to link to your Smart eSaver.

Phone and internet banking

You can transfer money in and out of your savings account over the phone or online.

Mobile app available

Bankwest offers an app for iPhone and Android mobile devices that gives you the same access to your savings account as online banking does.

Direct credit available

This account allows for direct credits via electronic deposit.

Launch savings calculator


  • Earn a competitive interest rate of 1.90% p.a. if conditions are met
  • $0 Account keeping fees
  • Phone and internet banking available


  • You'll lose the bonus interest if you make a withdrawal
  • Need to link to Bankwest transaction account
  • Bonus interest rate applies up to balances of $500,000

How do I apply for the Bankwest Smart eSaver Savings Account?

If you have found that this account has the features you need to meet your savings needs, you can apply easily online in under 15 minutes. Before you will be able to begin, make sure you meet the following eligibility requirements and have the necessary documents handy. You should also note that this account requires that you have a transaction account with Bankwest first, so you may have to open that type of account before you can apply for the Smart eSaver.


  • Minimum age. Applicants can be as young as 12 years of age, but those under 18 will need the assistance of an adult to complete the application.
  • Residency requirements. Australian citizens and permanent residents are welcome to apply, as well as temporary residents with valid visas. Temporary residents should keep in mind that there may be additional requirements that need to be met in order to qualify for this account.


Documentation needed:

  • Tax file number. As this is an interest earning account, you will want to provide your tax file number (TFN) or exemption code. If not, Bankwest is obligated to withhold tax on your interest earnings at the highest marginal rate.
  • Identification. Photo identification such as your passport or driver’s licence will be required in order to confirm your identity.
  • Linked account. You will need to be able to provide your Bankwest transaction account details including the BSB and account number that you will be using as the linked account.


What happens next?

You will receive a confirmation email after applying and your account will be opened immediately if you have provided all of the necessary information. If not, you will be informed of the next steps you need to take in order for Bankwest to issue the account in your name.
















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