Bankwest
Retirement Advantage Account
An everyday bank account with no maintenance fees that rewards you with interest. For those aged 55 and over.
Savings & transaction accountsBank updated 23 Sept 2026
At a glance
- Base rate
- 0.05%
- Monthly fee
- $0
§ 01 — Rates · 4
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableVariable Credit Interest. | — | — | up to $10,000 | 0.05% | — | paid every 1 mo |
| VariableVariable Credit Interest. | — | — | $10,000–$50,000 | 1.55% | — | paid every 1 mo |
| VariableVariable Credit Interest. | — | — | $250,000+ | 2.55% | — | paid every 1 mo |
| VariableVariable Credit Interest. | — | — | $50,000–$250,000 | 2.05% | — | paid every 1 mo |
§ 02 — Fees · 8
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Cheque Stop Payment | Event | $15 to $25 | — | $15 fee to stop payment on an issued cheque. This fee is $25 when payment is stopped on a range of cheques. |
| Cheque Withdrawal Fee | Event | No fee | — | No cheque withdrawal fees apply to this product. |
| Search Handling Fee | Event | $40 | — | For completion of any search conducted by the Bank (per search) |
| Maintenance Fee | Periodic | No fee | Every 1 mo | No maintenance fees apply to this product. |
| ATM Fee | Transaction | No fee | — | No ATM fees when you use major bank ATMs Australia-wide. Other ATM operators may charge fees. Other fees and charges may apply. |
| Foreign Transaction Fee | Transaction | No fee | — | No foreign transaction fees. |
| Overseas ATM Fee | Transaction | No fee | — | No Bankwest-charged overseas ATM access fees. The overseas bank may charge a fee for using their ATM. |
| Electronic Withdrawal Fee | Withdrawal | No fee | — | No electronic withdrawal fees apply to this product. However, you will be required to meet the cost of any Direct Charge levied in respect of a withdrawal at an ATM which is not operated by CommBank. |
§ 03 — Features
Instant paymentsPayIDDigital banking2 additional cardsApple PayGoogle PaySamsung Pay
- · You can bank over the phone.
- · Cheque Access will no longer be available for Retirement Advantage Accounts issued on or after 16 June 2023. After 20 March 2024, new or replacement chequebooks will not be available on any Bankwest…
- · Create a goal, set up regular deposits and track your progress in the app.
- · Backed by Mastercard 24/7 Zero Liability Protection.
- · You can set up ongoing payments for things like bills or loan repayments.
§ 04 — Eligibility & limits
- · Minimum age 55
- · Residency: Australian citizen or Australian permanent resident
- · Available to individuals
§ 05 — Compare
§ 06 — Run the numbers
Put this product through a calculator
Published by Bankwest under the Consumer Data Right, last changed by them on 23 Sept 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.