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Bankwest Online Term Deposit

Advertiser disclosure
Best rate (up to 1 year)
0.65% p.a.6 months
Minimum deposit
$1,000.00
Interest paid to another bank?
yes

Details

Rates and fees information correct as at 4 December 2020. 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
  • 0.10% p.a. ($1,000 to $5,000,000)

  • 0.25% p.a. ($1,000 to $5,000,000)

  • 0.45% p.a. ($1,000 to $5,000,000)

  • 0.45% p.a. ($1,000 to $5,000,000)

  • 0.45% p.a. ($1,000 to $5,000,000)

  • 0.65% p.a. ($1,000 to $5,000,000)

  • 0.50% p.a. ($1,000 to $5,000,000)

  • 0.50% p.a. ($1,000 to $5,000,000)

  • 0.50% p.a. ($1,000 to $5,000,000)

  • 0.50% p.a. ($1,000 to $5,000,000)

  • 0.50% p.a. ($1,000 to $5,000,000)

  • 0.65% p.a. ($1,000 to $5,000,000)

  • 0.60% p.a. ($1,000 to $5,000,000)

  • 0.60% p.a. ($1,000 to $5,000,000)

  • 0.60% p.a. ($1,000 to $5,000,000)

  • 0.60% p.a. ($1,000 to $5,000,000)

Other financial bits
  • $1,000.00

  • $5,000,000.00

Features
  • yes

  • yes

  • Must link to transaction account to transfer funds. 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 Online Term Deposit

  • Overall 9/10
    Satisfaction of the highest order, great service

    When visiting any Bankwest branch I have found staff to be polite, courteous, very helpful and extremely knowledgeable when questioned about accounts and services. Their online banking service is easily manageable making it very user friendly. I'm very satisfied and happy with this banking organization.

    Read full review

    When visiting any Bankwest branch I have found staff to be polite, courteous, very helpful and extremely knowledgeable when questioned about accounts and services. Their online banking service is easily manageable making it very user friendly. I'm very satisfied and happy with this banking organization.

    Price
    8/10
    Features
    9/10
    Customer service
    9/10
    Convenience
    9/10
    Trust
    9/10
    Less
    Percy, Western Australia reviewed almost 7 years ago
  • Overall 8/10
    The easy way to lock it away

    Term Deposit with this bank was easy to set up and a great way to lock away those savings for something special, whereas a normal savings account allows you to spend those savings all too easy. I love the ease of using online banking and Bankwest is just the best.

    Read full review

    Term Deposit with this bank was easy to set up and a great way to lock away those savings for something special, whereas a normal savings account allows you to spend those savings all too easy. I love the ease of using online banking and Bankwest is just the best.

    Price
    8/10
    Features
    8/10
    Customer service
    7/10
    Convenience
    8/10
    Trust
    9/10
    Less
    Paula, Western Australia reviewed almost 7 years ago
  • Overall 9/10
    Great customer service

    I like the fact that I have a term deposit that I can access and move money to and from very easily. This is through Bankwest.

    Read full review

    I like the fact that I have a term deposit that I can access and move money to and from very easily. This is through Bankwest.

    Price
    8/10
    Features
    9/10
    Customer service
    9/10
    Convenience
    9/10
    Trust
    9/10
    Less
    Janine, Western Australia reviewed about 7 years ago
  • Overall 8/10
    Customer service is generally first-rate.

    TERM DEPOSIT PROS * rate is usually very competitive, when compared with other (major) banks; in fact, the term deposit rate is usually higher than other banks, especially for short-term (e.g. 2- to 3-month) term deposits. A good rate for short-term term deposits is ideal for people who are saving for a house/apartment, and you don't have to wait many months before the term deposit matures in order to get the money out. * always look around at the rates offered by other banks but don't discount smaller banks such as Bankwest: although they're not a Melbourne-based bank, their rates are competitive and product range is very good. CONS * more advertising is required when there are special term deposit rates. At times, I've missed out on a good rate because I didn't know they were offering one. In addition, any special rate (i.e. those on top of what is advertised in-branch) should be made prominent at the front of the branch so that a customer (actual or potential) knows what s/he can get. The times when I've got a special rate was by good fortune, when I happened to be inside the bank and a staff member has told me about it.

    Read full review

    TERM DEPOSIT PROS * rate is usually very competitive, when compared with other (major) banks; in fact, the term deposit rate is usually higher than other banks, especially for short-term (e.g. 2- to 3-month) term deposits. A good rate for short-term term deposits is ideal for people who are saving for a house/apartment, and you don't have to wait many months before the term deposit matures in order to get the money out. * always look around at the rates offered by other banks but don't discount smaller banks such as Bankwest: although they're not a Melbourne-based bank, their rates are competitive and product range is very good. CONS * more advertising is required when there are special term deposit rates. At times, I've missed out on a good rate because I didn't know they were offering one. In addition, any special rate (i.e. those on top of what is advertised in-branch) should be made prominent at the front of the branch so that a customer (actual or potential) knows what s/he can get. The times when I've got a special rate was by good fortune, when I happened to be inside the bank and a staff member has told me about it.

    Price
    8/10
    Features
    6/10
    Customer service
    9/10
    Convenience
    6/10
    Trust
    8/10
    Less
    Denise, Victoria reviewed almost 8 years ago
  • Overall 10/10
    Generous term deposit rates

    In today's economy squeeze, Bankwest offers the highest interest rate for Term Deposit from all other banks. Isn't it nice to get such a generous rate from the bank? It's rare to get something extra from any bank, but here it is.

    Read full review

    In today's economy squeeze, Bankwest offers the highest interest rate for Term Deposit from all other banks. Isn't it nice to get such a generous rate from the bank? It's rare to get something extra from any bank, but here it is.

    Price
    10/10
    Features
    10/10
    Customer service
    9/10
    Convenience
    10/10
    Trust
    10/10
    Less
    John, Victoria reviewed almost 8 years ago
Bankwest

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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MyState Bank

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$5,000.00

Yes up to $250,000

Citi

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$10,000.00

Yes up to $250,000