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Bankwest Gold Term Deposit

Advertiser disclosure
Best rate (up to 1 year)
0.55% p.a.6 months
Minimum deposit
$5,000.00
Interest paid to another bank?
yes

Mozo editorial review Bankwest Gold Term Deposit

Last updated: 14 December 2020.

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What's hot
  • 0.55% p.a interest rate for a 1 year term
  • Term options ranging from 1 month to 5 years
  • Interest can be paid into another account
What's not
  • Minimum deposit of $5,000
  • 31 days notice required if customers want to withdraw their funds before the maturity date.
Mozo snapshot

The Bankwest Gold Term Deposit hits the ground running with competitive interest rates and a wide selection of term options ranging from 1 month to 5 years. Not to mention, this account comes with a few savings-savvy features, including, the ability to have your interest paid into another bank account.

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Key features

The Bankwest Gold Term Deposit gets the ball rolling with interest rates that start from 0.05% p.a. for a 1 month and goes right up to 0.55% p.a for a 1 year term - just be aware that the rate you get will depend on the term you choose.

Speaking of terms, this account offers loads of term options, ranging from 1 month terms all the way up to 5 year terms, so whether you’re looking to lock away your savings for a short time or long time, Bankwest has a number of terms to suit your needs.

The Bankwest Gold Term Deposit has a minimum deposit amount of $5,000 and a maximum deposit amount of $1,000,000.

The Bankwest Gold Term Deposit offers a selection of features to help give you a boost on your savings journey, including the ability to have the interest you earn paid into another bank account.

The Bankwest Gold Term Deposit account also comes with an automatic rollover feature which allows you to roll your account over should you choose to continue on for another term once your account reaches maturity. However, just make sure that you’ve still got a competitive deal first otherwise you could risk missing out on a better deal elsewhere because you’ve locked yourself into another term.

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Who is it good for

From it’s range of flexible account features to its wide range of term options - if you’re after a solid term deposit account to lock your money away in, then the Bankwest Gold Term Deposit could be just the thing you’re after.

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Any catches

The Bankwest Gold Term Deposit, like most term deposit products, requires a minimum of 31 days notice if you’d like to withdraw funds from your account before it reaches maturity.

Details

Rates and fees information correct as at 2 March 2021. 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
  • 0.05% p.a. ($5,000 to $2,000,000)

  • 0.20% p.a. ($5,000 to $2,000,000)

  • 0.35% p.a. ($5,000 to $2,000,000)

  • 0.35% p.a. ($5,000 to $2,000,000)

  • 0.35% p.a. ($5,000 to $2,000,000)

  • 0.55% p.a. ($5,000 to $2,000,000)

  • 0.40% p.a. ($5,000 to $2,000,000)

  • 0.40% p.a. ($5,000 to $2,000,000)

  • 0.40% p.a. ($5,000 to $2,000,000)

  • 0.40% p.a. ($5,000 to $2,000,000)

  • 0.40% p.a. ($5,000 to $2,000,000)

  • 0.55% p.a. ($5,000 to $2,000,000)

  • 0.50% p.a. ($5,000 to $2,000,000)

  • 0.50% p.a. ($5,000 to $2,000,000)

  • 0.50% p.a. ($5,000 to $2,000,000)

  • 0.50% p.a. ($5,000 to $2,000,000)

Other financial bits
  • $5,000.00

  • $2,000,000.00

Features
  • yes

  • yes

  • 31 days notice required if customers want to withdraw their funds before the maturity date.

  • none

Different interest rates apply to different amounts or different interest payment frequencies.

Customer Reviews

How are Bankwest term deposits rated by the Mozo community?

Overall
7.7/10
Price
7.6/10
Features
6.9/10
Customer service
7.6/10
Convenience
7.6/10
Trust
7.7/10

Latest reviews of Bankwest Gold Term Deposit

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About Bankwest

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.

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