Bankwest Hero Saver

savings accountterms checked

Hero Saver is a savings account from Bankwest. At $50,000 it pays 5.50% p.a. in a month in which the conditions below are met and 0.10% when they are not.

Rate tiers

Every balance band in the bank's feed: base is the rate when the bonus conditions are not all met, bonus the add-on for meeting them, conditional the two together.

The rates are stepped: each band's rate is paid on the part of the balance that falls in it, so a balance across several bands earns a blend of them.

The bonus is paid on top of the base rate in a month in which the conditions are met; conditional is the two together, and the base rate is what is paid otherwise.

The bonus is paid on balances up to $250,000; the band above it shows what the feed states there.

Conditions

For the bonus rate

• 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.

Other conditions

• the applicant cannot be a trustee of any trust

Features

app

yes

Osko

yes

PayID

yes

notifications

yes

joint accounts

yes

Other features, in the bank's words:

• You can bank over the phone.
• Direct credits to the account are permitted.
• Create a goal, set up regular deposits and track your progress in the app.
• To receive bonus interest, make at least one deposit of any amount (excluding interest) on or before the close of business on the last business day of the month, where you make a withdrawal the total deposits exceeds the total withdrawals made during the month.
• No maximum monthly deposit limit.

Fees, limits and who can open it

monthly fee

$0

bonus paid up to

$250,000

interest paid

monthly

interest calculated

daily

age

ages 14 and over

open to

personal customers

Who can open it, in the bank's own words:

• There is a limit of one account per person, whether as a single or joint account holder: 1
• A maximum of two account holders is permitted on the account. Additional eligibility criteria apply for joint accounts: 2
• residency: Customer must have a residential address in Australia (limited exceptions may apply subject to conditions): Australian citizen or Australian permanent resident

About this account

A savings account that rewards you for growing your balance

Data

• Bankwest's own page for this account.
• The bank's documents its product record links to: terms and conditions, fees, eligibility.
• Our verbatim snapshot of the bank's product record (source), as fetched on 13 November 2026.
• We read the bank's own page and terms against this page on 1 November 2026: bonus-interest, PDS_20140522-125921.pdf; conditions they state and its feed does not are listed above.
• /au/finance/savings-accounts/v1/brands/bankwest.json: this bank's accounts and every balance band as JSON; Bankwest's page lists them.
• The bank last updated this record on 13 November 2026. Rates are per annum as the bank states them; "stale" means the bank has not updated the record for over 60 days or since the latest cash rate change.

Other accounts at Bankwest

• Easy Saver savings account, 5.50% base at $50,000
• Retirement Advantage Account savings account, 1.25% base at $50,000
• Easy Transaction Account transaction account

All of Bankwest's accounts on its page, with its best rates per segment and rate kind, and every account at every bank.