The special 2.70% variable intro rate is a stand-out feature but what makes this even more impressive is the high $5 million balance limit. So if you have a spare $5 million lying around, throw it into the Bankwest TeleNet Saver account. Of course, we're not all millionaires, so another great feature is the no minimum balance or deposit requirements.
The Bankwest TeleNet Saver has to be linked to a Bankwest Transaction Account and once the intro period ends the interest rate reverts to a 1.00% standard variable rate. There's no account maintenance or transaction fees (fees may apply to linked account) and interest is calculated daily and paid into your account monthly.
The TeleNet Saver account has 24/7 access and the unlimited phone and internet access will give you the freedom to transfer money whenever you feel like it, wherever you are.
With all this freedom to access your savings you may be concerned that you'll be tempted to save less. But you can set up an automated direct debit to ensure you're regularly saving and getting the most out of the TeleNet Saver account's high variable interest rates.
Who it's good for:
The Bankwest TeleNet Saver is ideal for savers looking for a high variable interest savings account that can push their savings sky-high without any balance or deposit restrictions!
This is only a phone and internet savings account, so there's no branch access. The special variable interest rate is also not available to previous TeleNet Saver customers.