Bankwest Term Deposit

Deposit rates

Features

• Changes aimed at strengthening the banking system mean we need 31 days' notice if you want to withdraw your funds before the maturity date. This can also affect the interest we pay you. You can still access your money at maturity and during the grace period. You may request the withdrawal of all or part of your funds prior to the maturity date provided that you give 31 days' notice. If your Term Deposit has less than 31 days to maturity, you will only be able to access funds on the maturity date. The notice period starts on the day you request withdrawal. However, where the request falls on a non-business day the notice period will start on the next business day. If you are experiencing hardship and need your funds before maturity, please contact us. If you withdraw all or part of your funds prior to the maturity date, your entitlement to interest in respect of the deposit will be reduced, according to when an early repayment is made. Please refer to the Term Deposits Terms & Conditions for further details.
• This account is only available for either the 1,2,3,4,5,6,7,8,9,10,11,12,24,36,48, or 60 Months term.
• At the end of your term, unless we notify you that we will not be renewing your deposit, you have seven calendar days (known as your 'grace period') to let us know you want to withdraw your funds or reinvest them. If you don't let us know, your funds will be automatically reinvested for the same term at the applicable rate.
• You may instruct us at any time during the term of your deposit, to renew it at its maturity.
• Set up online or over the phone and manage your term deposit online.

Who can apply

• min age - 14The account is available to personal customers who meet the following age criteria: If applying through staff assisted channels, be aged 14 years or older. If applying through online channels, be aged 16 years or older. Effective 4 May 2026, the customer cannot be acting in the capacity of a trustee of a trust (unless the product was already held in a trust capacity prior to that date). Additional eligibility criteria apply for joint accounts.
• natural personThe account is available to personal customers who meet the following age criteria: If applying through staff assisted channels, be aged 14 years or older. If applying through online channels, be aged 16 years or older. Effective 4 May 2026, the customer cannot be acting in the capacity of a trustee of a trust (unless the product was already held in a trust capacity prior to that date). Additional eligibility criteria apply for joint accounts.
• otherAccount is available for single and joint account holder.
• otherYou must have a current Direct Debit Request at all times (this enables us to transfer funds from your Linked Account to your account).
• otherYou must have an Australian transaction account, with Bankwest or another financial institution, that allows direct debits to and from the account (so we can transfer funds from your linked account to your term deposit).
• otherA Linked Account is optional for a Bankwest Term Deposit that is migrated from a Gold Term Deposit.
• other - Maximum term 5 yearsMaximum term of the deposit is five years.
• other - Minimum term 1 monthMinimum term of the deposit is one month.
• residency status - AUAvailable to Australian citizens and permanent or temporary residents with an Australian residential address (limited exceptions may apply subject to conditions).

Limits

• opening balance - 1000.00Minimum opening deposit is $1,000.

The provider's own documents

• Product overview › (opens in a new tab)
• Terms and conditions › (opens in a new tab)
• Eligibility criteria › (opens in a new tab)
• Fees and pricing › (opens in a new tab)

Published by the provider under the Consumer Data Right. These are their documents, not ours - they are the authority on this product.