BankwestHero Saver
A savings account that rewards you for growing your balance
At a glance
- Up to
- 5.25%
- Base rate
- 0.00%
- Bonus rate
- 5.25%
- Monthly fee
- $0
How it compares
This account in ink, against the best that every other institution publishes for anyone to apply for. Each figure is counted the same way for all of them.
| Rate | This account | Best anywhere | Typical institution | Where it sits |
|---|---|---|---|---|
| Bonus savings accountBase plus bonus, when every condition is met | 5.25% | 5.75%Defence Bank Limited's iSaver | 5.25%of 51 institutions | 24th highest of 51, level with 4 others |
Rates
Every rate Bankwest publishes for this account, 6 in all.
How the rate is made up
5.25%in a month every condition is met
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| BonusBonus 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 with… | - | - | up to $250,001 | 5.25% | - | paid every 1 mo |
| BonusBonus 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 with… | - | - | $250,001–$5,000,001 | 0.00% | - | paid every 1 mo |
| BonusBonus 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 with… | - | - | $5,000,001+ | 0.00% | - | paid every 1 mo |
| VariableCredit interest will be paid in respect of each day at Your Credit Interest Rate current on that day. | - | - | up to $250,001 | 0.10% | - | paid every 1 mo |
| VariableCredit interest will be paid in respect of each day at Your Credit Interest Rate current on that day. | - | - | $250,001–$5,000,001 | 0.10% | - | paid every 1 mo |
| VariableCredit interest will be paid in respect of each day at Your Credit Interest Rate current on that day. | - | - | $5,000,001+ | 0.00% | - | paid every 1 mo |
Rate changes
3 changes logged, newest first.
| Date | Rate | Was | Now | Change |
|---|---|---|---|---|
| 10 Oct 2026 | Bonus, up to $250,001 | 4.45% | 5.25% | up 0.80 |
| 10 Oct 2026 | Variable, up to $250,001 | 0.65% | 0.10% | down 0.55 |
| 10 Oct 2026 | Variable, $250,001–$5,000,001 | 0.65% | 0.10% | down 0.55 |
Each change is logged the night it appears in the rates Bankwest publishes. See how every lender answered the RBA on the rate tracker.
Fees
2 fees published, grouped by when they're charged.
While you hold it1
- Maintenance Fee
No monthly maintenance fees apply to this product.
No fee
When particular things happen1
- Search Handling Fee
For completion of any search conducted by the Bank (per search)
$40
Features
- 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…
- No maximum monthly deposit limit.
Eligibility and limits
- Minimum age 14
- Residency: Australian citizen or Australian permanent resident
- Available to individuals
- 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.
Compare it with others
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Published by Bankwest under the Consumer Data Right, last changed by them on 10 Oct 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.