BankwestBankwest Term Deposit
The Bankwest Term Deposit lets you lock away your savings for a fixed term of up to five years with a competitive fixed interest rate, giving you certainty on the interest you'll earn
Term depositsBank updated 9 Oct 2026
At a glance
- Best rate
- 5.30% for 12m
- 12 months
- 5.30%
- Min deposit
- $1,000
How it compares
This term deposit 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 term deposit | Best anywhere | Typical institution | Where it sits |
|---|---|---|---|---|
| 3-month term depositBest rate for 3 months | 5.00% | 5.30%Heartland Bank's Broker Term Deposit | 4.60%of 55 institutions | 12th highest of 55, level with 5 others |
| 6-month term depositBest rate for 6 months | 4.40% | 5.47%Heartland Bank's Broker Term Deposit | 5.10%of 63 institutions | 51st highest of 63 |
| 12-month term depositBest rate for 12 months | 5.30% | 5.75%Suncorp Bank's Term Deposit | 5.30%of 65 institutions | 28th highest of 65, level with 14 others |
| 2-year term depositBest rate for 2 years | 5.00% | 5.60%Judo Bank's Personal Term Deposits | 4.90%of 55 institutions | 18th highest of 55, level with 8 others |
| 3-year term depositBest rate for 3 years | 5.00% | 5.60%Judo Bank's Personal Term Deposits | 4.25%of 44 institutions | 10th highest of 44, level with 3 others |
| 5-year term depositBest rate for 5 years | 5.00% | 5.65%Judo Bank's Personal Term Deposits | 4.00%of 27 institutions | 8th highest of 27, level with one other |
Rates
Every rate Bankwest publishes for this term deposit, 31 in all.
Its best rate at each term
- 1 mo2.00%
- 2 mo2.00%
- 3 motypical 4.60%5.00%
- 4 mo4.40%
- 5 mo5.15%
- 6 motypical 5.10%4.40%
- 7 mo4.40%
- 8 mo4.40%
- 9 mo4.40%
- 10 mo4.40%
- 11 mo4.40%
- 1 yrtypical 5.30%5.30%
- 2 yrstypical 4.90%5.00%
- 3 yrstypical 4.25%5.00%
- 4 yrs5.00%
- 5 yrstypical 4.00%5.00%
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| FixedFixed Credit Interest. | - | 1 mo | $1,000–$10,000,000 | 2.00% | - | paid at maturity; paid every 1 mo |
| FixedFixed Credit Interest. | - | 10 mo | $1,000–$10,000,000 | 4.40% | - | paid at maturity; paid every 10 mo |
| FixedFixed Credit Interest. | - | 11 mo | $1,000–$10,000,000 | 4.40% | - | paid at maturity; paid every 11 mo |
| FixedFixed Credit Interest. | - | 1 yr | $1,000–$10,000,000 | 5.18% | - | paid every 1 mo |
| FixedFixed Credit Interest. | - | 1 yr | $1,000–$10,000,000 | 5.30% | - | paid every 1 yr |
| FixedFixed Credit Interest. | - | 1 yr | $1,000–$10,000,000 | 5.20% | - | paid every 3 mo |
| FixedFixed Credit Interest. | - | 1 yr | $1,000–$10,000,000 | 5.23% | - | paid every 6 mo |
| FixedFixed Credit Interest. | - | 2 mo | $1,000–$10,000,000 | 2.00% | - | paid at maturity; paid every 2 mo |
| FixedFixed Credit Interest. | - | 2 yrs | $1,000–$10,000,000 | 4.89% | - | paid every 1 mo |
| FixedFixed Credit Interest. | - | 2 yrs | $1,000–$10,000,000 | 5.00% | - | paid every 1 yr |
| FixedFixed Credit Interest. | - | 2 yrs | $1,000–$10,000,000 | 4.91% | - | paid every 3 mo |
| FixedFixed Credit Interest. | - | 2 yrs | $1,000–$10,000,000 | 4.94% | - | paid every 6 mo |
| FixedFixed Credit Interest. | - | 3 mo | $1,000–$10,000,000 | 5.00% | - | paid at maturity; paid every 3 mo |
| FixedFixed Credit Interest. | - | 3 yrs | $1,000–$10,000,000 | 4.89% | - | paid every 1 mo |
| FixedFixed Credit Interest. | - | 3 yrs | $1,000–$10,000,000 | 5.00% | - | paid every 1 yr |
| FixedFixed Credit Interest. | - | 3 yrs | $1,000–$10,000,000 | 4.91% | - | paid every 3 mo |
| FixedFixed Credit Interest. | - | 3 yrs | $1,000–$10,000,000 | 4.94% | - | paid every 6 mo |
| FixedFixed Credit Interest. | - | 4 mo | $1,000–$10,000,000 | 4.40% | - | paid at maturity; paid every 4 mo |
| FixedFixed Credit Interest. | - | 4 yrs | $1,000–$10,000,000 | 4.89% | - | paid every 1 mo |
| FixedFixed Credit Interest. | - | 4 yrs | $1,000–$10,000,000 | 5.00% | - | paid every 1 yr |
| FixedFixed Credit Interest. | - | 4 yrs | $1,000–$10,000,000 | 4.91% | - | paid every 3 mo |
| FixedFixed Credit Interest. | - | 4 yrs | $1,000–$10,000,000 | 4.94% | - | paid every 6 mo |
| FixedFixed Credit Interest. | - | 5 mo | $1,000–$10,000,000 | 5.15% | - | paid at maturity; paid every 5 mo |
| FixedFixed Credit Interest. | - | 6 mo | $1,000–$10,000,000 | 4.40% | - | paid at maturity; paid every 6 mo |
| FixedFixed Credit Interest. | - | 5 yrs | $1,000–$10,000,000 | 4.89% | - | paid every 1 mo |
| FixedFixed Credit Interest. | - | 5 yrs | $1,000–$10,000,000 | 5.00% | - | paid every 1 yr |
| FixedFixed Credit Interest. | - | 5 yrs | $1,000–$10,000,000 | 4.91% | - | paid every 3 mo |
| FixedFixed Credit Interest. | - | 5 yrs | $1,000–$10,000,000 | 4.94% | - | paid every 6 mo |
| FixedFixed Credit Interest. | - | 7 mo | $1,000–$10,000,000 | 4.40% | - | paid at maturity; paid every 7 mo |
| FixedFixed Credit Interest. | - | 8 mo | $1,000–$10,000,000 | 4.40% | - | paid at maturity; paid every 8 mo |
| FixedFixed Credit Interest. | - | 9 mo | $1,000–$10,000,000 | 4.40% | - | paid at maturity; paid every 9 mo |
Rate changes
6 changes logged, newest first.
| Date | Rate | Was | Now | Change |
|---|---|---|---|---|
| 10 Oct 2026 | Fixed, 1 yr, $1,000–$10,000,000 | 5.08% | 5.18% | up 0.10 |
| 10 Oct 2026 | Fixed, 1 yr, $1,000–$10,000,000 | 5.20% | 5.30% | up 0.10 |
| 10 Oct 2026 | Fixed, 1 yr, $1,000–$10,000,000 | 5.10% | 5.20% | up 0.10 |
| 10 Oct 2026 | Fixed, 1 yr, $1,000–$10,000,000 | 5.13% | 5.23% | up 0.10 |
| 10 Oct 2026 | Fixed, 3 mo, $1,000–$10,000,000 | 4.80% | 5.00% | up 0.20 |
| 10 Oct 2026 | Fixed, 5 mo, $1,000–$10,000,000 | 5.00% | 5.15% | up 0.15 |
Each change is logged the night it appears in the rates Bankwest publishes. See how every lender answered the RBA on the rate tracker.
Features
Instant paymentsDigital banking
- 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…
- 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…
- 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.
Eligibility and limits
- Minimum age 14
- Residency: AU
- Available to individuals
- Opening balance $1,000
- Account is available for single and joint account holder.
- You must have a current Direct Debit Request at all times (this enables us to transfer funds from your Linked Account to your account).
- You 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 t…
- A Linked Account is optional for a Bankwest Term Deposit that is migrated from a Gold Term Deposit.
- Maximum term of the deposit is five years.
- Minimum term of the deposit is one month.
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Published by Bankwest under the Consumer Data Right, last changed by them on 9 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.