based on 5931 Bankwest banking product reviews as rated by Mozo community

Bankwest term deposits

Bankwest is all about making your finances simple. 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, which has promised to retain the Bankwest brand. So if you like the sound of simple banking, check out Bankwest's range of personal banking products including savings accounts, bank accounts, credit cards, home loans and more.

Bankwest offers the following term deposits

Rates and fees verified as correct at 2 July 2022. Other information correct at the time of writing. Advertiser disclosure.

Product Best rate (up to 1 year) Minimum deposit Interest paid to another bank?
Gold Term Deposit

2.30% p.a.1 year

$5,000.00

yes

Online Term Deposit

2.30% p.a.1 year

$1,000.00

yes

How are Bankwest term deposits rated?

Mozo users have rated Bankwest term deposits on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of term-deposits
Bankwest term deposits
Overall
Price
Features
Customer service
Convenience
Trust

170 Reviews

Recent Bankwest term deposit reviews

Bankwest Term Deposit
Overall 4/10
Overly long wait for a response to a phone call

We had a query in regard to Term Deposits. We phoned and were kept waiting online for an hour or more - spoke to a customer service person and then referred to a second person - another long wait " will be progressing and will be with you.....". Not sure how long is reasonable - but 1.5 hours is not reasonable. Bankwest needs to lift its game and recognise its customer's time has a value.

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We had a query in regard to Term Deposits. We phoned and were kept waiting online for an hour or more - spoke to a customer service person and then referred to a second person - another long wait " will be progressing and will be with you.....". Not sure how long is reasonable - but 1.5 hours is not reasonable. Bankwest needs to lift its game and recognise its customer's time has a value.

Price
2/10
Customer service
2/10
Convenience
1/10
Trust
10/10
Less
Hamish, Western Australia, reviewed 30 days ago
Bankwest Term Deposit
Overall 7/10
Reliable, helpful and efficient online and in bank

I have been associated with this bank for 15 years. Staff always pleasant and helpful.

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I have been associated with this bank for 15 years. Staff always pleasant and helpful.

Price
8/10
Features
8/10
Customer service
8/10
Convenience
7/10
Trust
7/10
Less
Franca, Western Australia, reviewed over 1 year ago
Bankwest Term Deposit
Overall 9/10
Better bank than the main four.

I have been banking with this bank for more than 20 years and wouldn't change it. It has competitive rates and they take good care of customers.

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I have been banking with this bank for more than 20 years and wouldn't change it. It has competitive rates and they take good care of customers.

Price
8/10
Features
6/10
Customer service
10/10
Convenience
9/10
Trust
10/10
Less
Anna, Western Australia, reviewed almost 2 years ago
Bankwest Term Deposit
Overall 10/10
Bankwest has provided me with 20 years of service

Reliable, efficient and trustworthy.

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Reliable, efficient and trustworthy.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
David, Western Australia, reviewed almost 2 years ago

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Term deposit quick links