BankwestRetirement Advantage Account
An everyday bank account with no maintenance fees that rewards you with interest. For those aged 55 and over.
At a glance
- Base rate
- 0.05%
- Monthly fee
- $0
Rates
Every rate Bankwest publishes for this account, 4 in all.
| 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 |
Fees
8 fees published, grouped by when they're charged.
While you hold it1
- Maintenance Fee
No maintenance fees apply to this product.
No fee
When you make a transaction4
- ATM Fee
No ATM fees when you use major bank ATMs Australia-wide. Other ATM operators may charge fees. Other fees and charges may apply.
No fee - Foreign Transaction Fee
No foreign transaction fees.
No fee - Overseas ATM Fee
No Bankwest-charged overseas ATM access fees. The overseas bank may charge a fee for using their ATM.
No fee - Electronic Withdrawal 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.
No fee
When particular things happen3
- Cheque Stop Payment
$15 fee to stop payment on an issued cheque. This fee is $25 when payment is stopped on a range of cheques.
$15 to $25 - Cheque Withdrawal Fee
No cheque withdrawal fees apply to this product.
No fee - Search Handling Fee
For completion of any search conducted by the Bank (per search)
$40
Features
- 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.
Eligibility and limits
- Minimum age 55
- Residency: Australian citizen or Australian permanent resident
- Available to individuals
Compare it with others
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.