Bankwest Hero Saver
Bonus rate
A savings account that rewards you for growing your balance
- Base rate up to
- 0.10%
- Introductory rate
- None
- Maximum balance
- None published
Rate with bonus, up to
Rates by balance
| Balance | Base rate | Bonus | Total |
|---|---|---|---|
| $0 to $250,001 | 0.10% | +5.25% | 5.35% |
| $250,001 to $5,000,001 | 0.10% | None | 0.10% |
| $5,000,001 and over | 0.00% | None | 0.00% |
How to earn the bonus
Bonus interest will be paid in respect of each day of a month of the year at Your Bonus Interest Rate on that day if the total amount of deposits (excluding interest) exceeds the total amount of withdrawals in that month.
Who can open it
- Age to open
- 14 and over
- Maximum balance
- None published
Limits and conditions
- There is a limit of one account per person, whether as a single or joint account holder.
- A maximum of two account holders is permitted on the account. Additional eligibility criteria apply for joint accounts.
How it compares
Against the other savings accounts we compare. Typical means the middle half of them.
Most it pays
5.35%
At its best balance, with any bonus. Typical is 3.65%.
Base rate
0.10%
What it pays without a bonus. Typical is 2.40%.
Pros and cons
Pros
- A higher rate. Up to 5.35%, above the typical 3.65%. On $10,000 that's about $535 a year.
Cons
- A low base rate. Only 0.10% in any month you miss the bonus conditions.
- Conditions for the bonus. You need to meet them every month, or you earn only the base rate.
Similar savings accounts
Savings accounts from other banks that pay a similar rate at their best.
- Most it pays
- 5.35%
- Bonus conditions
- None
- Most it pays
- 5.35%
- Bonus conditions
- None
- Most it pays
- 5.35%
- Bonus conditions
- Yes
