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    • Bankwest term deposit reviews

    How are Bankwest term deposits rated by the Mozo community?

    73%

    Overall Mozo Community rating: 7.3 out of 10

    Bankwest term deposits

    Overall rating: 7.3 (21 reviews)

    Last reviewed: 26 January 2012


    11. Overall customer rating
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    Reviews: 77

    Thumbs up: 67 | Thumbs down: 10

    Featured term deposit from Bankwest

    • Gold Term Deposit

    • interest rate

      5.05%

    • minimum deposit

      $5,000.00
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    Recent Bankwest term deposit reviews

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        11. Overall customer rating
        12. (Reviewed 10 days ago)

      This product has made it possible for me to save money for my upcoming overseas holiday! The pro of this product is that I can't touch the money once it's in and the interest rates are very competitive. The con would be that the terms that have bo...       Full review 

      This product has made it possible for me to save money for my upcoming overseas holiday! The pro of this product is that I can't touch the money once it's in and the interest rates are very competitive. The con would be that the terms that have bonus interest rates change from month to month so you could be earning more interest depending on which month it is. Overall though, I'm very happy.


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      Bankwest Term Deposit reviewed by Rebecca from Western Australia

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        11. Overall customer rating
        12. (Reviewed 10 days ago)

      Having dealt with Bankwest for many years we have always received excellent service and I feel very happy with this bank.       Full review 

      Having dealt with Bankwest for many years we have always received excellent service and I feel very happy with this bank.


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      Bankwest Term Deposit reviewed by Pauline from Western Australia

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        11. Overall customer rating
        12. (Reviewed about 1 month ago)

      Bankwest term deposits give you no interest if you withdraw your money before the end of the term compared to Westpac term deposits which do give you some interest money(at a reduced rate)if you withdraw your money before the end of the term       Full review 

      Bankwest term deposits give you no interest if you withdraw your money before the end of the term compared to Westpac term deposits which do give you some interest money(at a reduced rate)if you withdraw your money before the end of the term


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      Bankwest Term Deposit reviewed by John from Western Australia

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        11. Overall customer rating
        12. (Reviewed about 1 month ago)

      Competitive interest rates, but auto rollover at maturity to the same term at prevailing rates is terrible. And penalties to cancel, even within the "grace" period is unfair.       Full review 

      Competitive interest rates, but auto rollover at maturity to the same term at prevailing rates is terrible. And penalties to cancel, even within the "grace" period is unfair.


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      Bankwest Term Deposit reviewed by Jon from New South Wales

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        11. Overall customer rating
        12. (Reviewed 3 months ago)

      This is one very dishonest bank. Check you interest rate and the amount that you receive - they differ (in the bank's favour of course)! Called their number and they tried to tell me that there wasn't 365 days in a year.       Full review 

      This is one very dishonest bank. Check you interest rate and the amount that you receive - they differ (in the bank's favour of course)! Called their number and they tried to tell me that there wasn't 365 days in a year.


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      Bankwest Term Deposit reviewed by Julie-therese from New South Wales

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        11. Overall customer rating
        12. (Reviewed 4 months ago)

      I check each roll over and have found that they have been the same or better than other banks       Full review 

      I check each roll over and have found that they have been the same or better than other banks


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      Bankwest Term Deposit reviewed by John from Western Australia

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        11. Overall customer rating
        12. (Reviewed 5 months ago)

      For a physical bank they provide a high interest, short term, options that reap profitable results. The branch is comfortable and staff are welcoming. Answering questions are never a problem and time is on the customers side. Very easy account to ...       Full review 

      For a physical bank they provide a high interest, short term, options that reap profitable results. The branch is comfortable and staff are welcoming. Answering questions are never a problem and time is on the customers side. Very easy account to open. A quality banking product for the novice investor.


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      Bankwest Term Deposit reviewed by Amanda from New South Wales

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        11. Overall customer rating
        12. (Reviewed 5 months ago)

      The service officer made me feel confident in choosing the product. She knew the answers to all my questions and put my mind at rest for such a big decision. I will definitely return for more advice.       Full review 

      The service officer made me feel confident in choosing the product. She knew the answers to all my questions and put my mind at rest for such a big decision. I will definitely return for more advice.


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      Bankwest Term Deposit reviewed by Kayleen from Western Australia

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        11. Overall customer rating
        12. (Reviewed 5 months ago)

      There are no in-branch business persons - all comunicaton for business products is done by phone or internet which for businesses is very inconvenient. When i took out the term deposit, my instructions were NOT to reinvest but that is what happen...       Full review 

      There are no in-branch business persons - all comunicaton for business products is done by phone or internet which for businesses is very inconvenient. When i took out the term deposit, my instructions were NOT to reinvest but that is what happened and at a considerably lower rate.


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      Bankwest Term Deposit reviewed by Anthony from New South Wales

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        11. Overall customer rating
        12. (Reviewed 5 months ago)

      I like this product with Bankwest because the staff are fantastic to work with and are always willing and able to help with any queries. I would happily recommend this product and Bank to anyone that asked me.       Full review 

      I like this product with Bankwest because the staff are fantastic to work with and are always willing and able to help with any queries. I would happily recommend this product and Bank to anyone that asked me.


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      Bankwest Term Deposit reviewed by Catherine from New South Wales

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        11. Overall customer rating
        12. (Reviewed 5 months ago)

      competitive rates are easy to get along with       Full review 

      competitive rates are easy to get along with


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      Bankwest Term Deposit reviewed by Cliff from Western Australia

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        11. Overall customer rating
        12. (Reviewed 7 months ago)

      I have been looked after by Bankwest for 18 yrs and they have been most helpful particularly after my husband died. I have a small branch locally and I am very satisfied with the service... I get a very good interest rate on my term deposits and ...       Full review 

      I have been looked after by Bankwest for 18 yrs and they have been most helpful particularly after my husband died. I have a small branch locally and I am very satisfied with the service... I get a very good interest rate on my term deposits and can choose how long I leave my money in depending on what I might want to use it for...


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      Bankwest Term Deposit reviewed by Barbara from Western Australia

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        11. Overall customer rating
        12. (Reviewed 9 months ago)

      BankWest are easy to deal with and have a great term deposit interest rate of 6.15%. This is better than most other banks and customer service is always good as well.       Full review 

      BankWest are easy to deal with and have a great term deposit interest rate of 6.15%. This is better than most other banks and customer service is always good as well.


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      Bankwest Term Deposit reviewed by Karen from Western Australia

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        11. Overall customer rating
        12. (Reviewed 9 months ago)

      Don't like how they just roll the money over at the lowest rate. I always have to check what other banks are offering and ring Bankwest to get them to match it. It should be automatic in offering the highest rate.       Full review 

      Don't like how they just roll the money over at the lowest rate. I always have to check what other banks are offering and ring Bankwest to get them to match it. It should be automatic in offering the highest rate.


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      Bankwest Term Deposit reviewed by Rebecca from Western Australia

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        11. Overall customer rating
        12. (Reviewed 9 months ago)

      I wanted to open up a fixed deposit account with Bankwest. The interest rate offered was competitive. As I wanted the account in the name of our family superannuation fund it took many visits to the branch plus phone calls to finalise this deposit...       Full review 

      I wanted to open up a fixed deposit account with Bankwest. The interest rate offered was competitive. As I wanted the account in the name of our family superannuation fund it took many visits to the branch plus phone calls to finalise this deposit. They, Bankwest, lost some of the documents which both our Accountant and I had provided and there was so much unnecessary delay in the setting up of the account. It took almost 2 months


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      Bankwest Term Deposit reviewed by Rod from Victoria

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        11. Overall customer rating
        12. (Reviewed 9 months ago)

      BankWest have a great term deposit rate of 6.15%. This is better than most other banks around and I am in the process of gradually transferring all my super from MLC (formerly Aviva) into this account. It is a slow process trying to get funds out...       Full review 

      BankWest have a great term deposit rate of 6.15%. This is better than most other banks around and I am in the process of gradually transferring all my super from MLC (formerly Aviva) into this account. It is a slow process trying to get funds out of MLC as most have been frozen but at least I didn't lose as much during the economic downturn as a lot of other people.


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      Bankwest Term Deposit reviewed by Alan from Western Australia

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        11. Overall customer rating
        12. (Reviewed 10 months ago)

      I like the term deposits at Bankwest because they have high interest rates. The best maturity option is one year - it has generally the best rates for its length of time. Selecting a maturity of less than a year has generally very low rates and ab...       Full review 

      I like the term deposits at Bankwest because they have high interest rates. The best maturity option is one year - it has generally the best rates for its length of time. Selecting a maturity of less than a year has generally very low rates and above a year, the rates do not increase quite so much.


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      Bankwest Term Deposit reviewed by Maybel from New South Wales

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        11. Overall customer rating
        12. (Reviewed about 1 year ago)

      I like Bankwest cause they give you good rates compared to the banks....they are friendly. Only problem is the phone banking, find it a bit complicated as I think you have to open up another joining account to transfer money etc. Otherwise they of...       Full review 

      I like Bankwest cause they give you good rates compared to the banks....they are friendly. Only problem is the phone banking, find it a bit complicated as I think you have to open up another joining account to transfer money etc. Otherwise they offer better rates than most banks. Thanks


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      Bankwest Term Deposit reviewed by Evelyn from New South Wales

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        11. Overall customer rating
        12. (Reviewed about 1 year ago)

      I get 10% interest for my child and it is a great product. I highly recommend it. The bad part is that Bankwest was very slow to send us the details. You have to put in monthly, more than $25 but no more than $250. Really good service.       Full review 

      I get 10% interest for my child and it is a great product. I highly recommend it. The bad part is that Bankwest was very slow to send us the details. You have to put in monthly, more than $25 but no more than $250. Really good service.


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      Bankwest Term Deposit reviewed by Michelle from Victoria

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        11. Overall customer rating
        12. (Reviewed about 1 year ago)

      Always seem to have the best interest rates on Term Deposits without risks.       Full review 

      Always seem to have the best interest rates on Term Deposits without risks.


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      Bankwest Term Deposit reviewed by Barbara from Western Australia

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        11. Overall customer rating
        12. (Reviewed about 1 year ago)

      I didn't see much performance out of my term deposit account, the rates were initially great, but other banks came out with far more competitive offers. In addition to that, I had lots of miscommunications around the product offering when deal...       Full review 

      I didn't see much performance out of my term deposit account, the rates were initially great, but other banks came out with far more competitive offers. In addition to that, I had lots of miscommunications around the product offering when dealing with Bankwest staff.


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      Bankwest Term Deposit reviewed by Shaon from New South Wales

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        11. Overall customer rating
        12. (Reviewed over 1 year ago)

      not very flexible when trying to get a good rate of interest       Full review 

      not very flexible when trying to get a good rate of interest


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      Bankwest Term Deposit reviewed by James from Western Australia

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        11. Overall customer rating
        12. (Reviewed over 1 year ago)

      The term deposit with BankWest is acceptable. I believe they offer good rates, but not extremely sure what other banks offer in comparison, to be honest. I found this term deposit out of convenience and value the good customer service when I do go...       Full review 

      The term deposit with BankWest is acceptable. I believe they offer good rates, but not extremely sure what other banks offer in comparison, to be honest. I found this term deposit out of convenience and value the good customer service when I do go into a branch.


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      Bankwest Term Deposit reviewed by Susannah from Western Australia

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        11. Overall customer rating
        12. (Reviewed over 1 year ago)

      Great product website, easy to use.       Full review 

      Great product website, easy to use.


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      Bankwest Term Deposit reviewed by Lynley from Victoria

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        11. Overall customer rating
        12. (Reviewed over 1 year ago)

      The information is simple and informative, but customer service could be improved.       Full review 

      The information is simple and informative, but customer service could be improved.


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      Bankwest Term Deposit reviewed by a Mozo reviewer from Queensland

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        11. Overall customer rating
        12. (Reviewed over 1 year ago)

      I thought the rate was good, it was the best out of all the big banks and ING at the time I put the long term deposit in. I love banking with BankWest - friendly, easy, no fees, no fuss, no attitude.       Full review 

      I thought the rate was good, it was the best out of all the big banks and ING at the time I put the long term deposit in. I love banking with BankWest - friendly, easy, no fees, no fuss, no attitude.


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      Bankwest Term Deposit reviewed by Kellie from New South Wales

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        11. Overall customer rating
        12. (Reviewed over 1 year ago)

      Great rate, acceptable customer service, prompt action when required. Easy access to branch if living in WA.       Full review 

      Great rate, acceptable customer service, prompt action when required. Easy access to branch if living in WA.


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      Bankwest Term Deposit reviewed by Helen from Queensland

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        11. Overall customer rating
        12. (Reviewed over 1 year ago)

      Interest rates are reasonable. For long-term customers they should provide a rewards program or let them know of better rates of return near the end of the maturity of the deposits. Better service to service because they constitute a big % of thei...       Full review 

      Interest rates are reasonable. For long-term customers they should provide a rewards program or let them know of better rates of return near the end of the maturity of the deposits. Better service to service because they constitute a big % of their customers.This are not so au fait with technology so rely more on written communication to increase the return on their savings/deposits and find it increasingly necessary to get a better returnbecause cost of living is tearing ahead.


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      Bankwest Term Deposit reviewed by Diana from Western Australia

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        11. Overall customer rating
        12. (Reviewed over 1 year ago)

      Pros: * BankWest's rates for term deposits are definitely the most competitive. (I research this whenever it is time to rollover and I always find BankWest's to be best.) * They always make me well aware in advance of when the term is coming to ...       Full review 

      Pros: * BankWest's rates for term deposits are definitely the most competitive. (I research this whenever it is time to rollover and I always find BankWest's to be best.) * They always make me well aware in advance of when the term is coming to an end by mail and phone. * Their staff are always helpful and accommodating in the branch and on the phone. Cons: * The only negative aspect relating to term deposits is that the customer needs to be flexible when renewing the term to ensure that you receive the best interest rate. That is, one term's best rate may only be for 3 months, then the next term may be 11 months; so you need to be vigilant and make sure you renew at the best rate.


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      Bankwest Term Deposit reviewed by Angela from New South Wales

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        11. Overall customer rating
        12. (Reviewed over 1 year ago)

      Very good interest on fix term deposits. very friendly and professionell service. No Dislikes.       Full review 

      Very good interest on fix term deposits. very friendly and professionell service. No Dislikes.


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      Bankwest Term Deposit reviewed by Barbara from Western Australia

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