Bankwest TeleNet Saver

0.25% p.a.(for $0 and over)

2.10% p.a. (for $0 to $5,000,000)

Bankwest TeleNet Saver

0.25% p.a.(for $0 and over)

2.10% p.a. (for $0 to $5,000,000)

Mozo Review   Bankwest TeleNet Saver Review

Last updated: 16 October 2019.

What's hot:
  • 2.10% special variable intro rate for 4 months

  • balances up to a whopping $5 million

  • no deposit or minimum balance requirements

What's not:
  • Special variable intro rate only available to new customers

Mozo snapshot:

The Bankwest TeleNet savings account is made for telephone or internet banking, hence the name TeleNet! The savings account has no maintenance or transaction fees (fees may apply to linked account), unlimited phone and internet transactions and a special 2.10% variable intro rate for the first 4 months when you open your first TeleNet Saver account. 

Key features:

The special 2.10% 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 0.25% 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 competitive variable interest savings account that can push their savings sky-high without any balance or deposit restrictions!

Any catches?

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.

Details

Rates and fees information correct as at 21 October 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Balances from $0: 0.25% p.a.

  • Balances from $0: 2.10% p.a.
    Balances from $5,000,000: 0.25% p.a.

  • Bonus variable intro rate for the first 4 months

Fees
  • $0.00

  • n/a

  • Unlimited free transactions from phone and internet.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • $0.00

  • $0.00

  • n/a

Other financial bits
  • $0.00

  • $0.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • no

  • no

  • yes

  • yes

  • no

  • no

  • Must link to a Bankwest transaction account

  • none

  • none

Customer Reviews

How are Bankwest savings accounts rated by the Mozo community?

Overall customer rating
8.0/10
Price
7.7/10
Features
6.8/10
Customer service
8.1/10
Convenience
8.1/10
Trust
8.0/10

Latest reviews of Bankwest TeleNet Saver

  • Overall
    10/10
    Awesome customer services very clear on fees.

    I recommend this bank to my families and friends, I find the bank pretty good with their...

    I recommend this bank to my families and friends, I find the bank pretty good with their customers services and clear on with all the your banking needs with ATM and online banking i have no troubles with BankWest.

    Price
    6/10
    Features
    9/10
    Customer service
    8/10
    Convenience
    10/10
    Trust
    10/10

    Norani | Western Australia

    reviewed over 3 years ago

  • Overall
    8/10
    Definitely 'friendly' banking

    Amazing service.

    Amazing service.

    Price
    7/10
    Features
    7/10
    Customer service
    10/10
    Convenience
    6/10
    Trust
    8/10

    Amy | Western Australia

    reviewed over 3 years ago

  • Overall
    9/10
    Nodbodys better than bankwest

    BankWest is an all round good bank to be with.

    BankWest is an all round good bank to be with.

    Price
    8/10
    Features
    5/10
    Customer service
    6/10
    Convenience
    8/10
    Trust
    8/10

    Ariahna | Western Australia

    reviewed over 3 years ago

  • Overall
    10/10
    Great customer serive and interest rates

    Excellent bank. Always very helpful. Great online banking system and interest rates. No faults.

    Excellent bank. Always very helpful. Great online banking system and interest rates. No faults.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    9/10
    Trust
    10/10

    Tawa | Queensland

    reviewed over 3 years ago

  • Overall
    10/10
    Great customer service

    Very convenient ATM just outside retirement village and everything else can be done on line.

    Very convenient ATM just outside retirement village and everything else can be done on line.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10

    John | Western Australia

    reviewed over 3 years ago

Bankwest

About Bankwest

Bankwest is the bank best known for Making Banking Easier, an initiative which aims to make banking a more positive experience. Originally from Western Australia, Bankwest has attracted thousands of customers around the country with its competitively priced products such as the Hero Saver. In late 2008 the bank was bought by the Commonwealth Bank, who have promised to retain the Bankwest brand. So if you like the sound of Making Banking Easier, check out Bankwest's range of personal banking products including savings accounts, bank accounts, credit cards, home loans and more.

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0% p.a.(for $0 and over)

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0.01% p.a.(for $0 and over)

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