Bankwest Term Deposit

Bankwest Term Deposit Accounts

A term deposit allows you to earn a high interest rate and subsequent return on a portion of your savings which you don’t need to immediately access. A Bankwest term deposit account is so easy to open and use that you don’t have to feel daunted by using a new financial product, all you have to do is decide on an investment amount and term.

Term Deposit	1 mth	3 mth	4 mth	6 mth	9 mth	12 mth	24 mth	Min and Max Deposit
Bankwest Term Deposit	-	3.61%	-	5.01%	-	5.60%	-	$1,000 – 5m

Benefits of a Bankwest term deposit account:

• Bankwest has a range of term deposit accounts with varying features to suit your investment style and access needs.
• You can choose a term from one month to five years for your term deposit.
• There are no set up or ongoing fees paid for your Bankwest term deposit.
• You can apply online or over the phone in less than ten minutes – you can also go into a branch if you’d prefer to deal with a bank representative.
• Your investment amount and interest rate are locked in, guaranteed and secure for the duration of your chosen term.
• You can compare the benefits and features of all Bankwest term deposit accounts right here.

Bankwest Special Term Deposit Interest Rate

Bankwest are offering a promotional interest rate on their term deposits, for all accounts opened after 10 November 2009. The special rate can earn you 5.80% on your investment over 12 months and the term deposit account attracts no ongoing fees and no set up fees. Your interest returns will be paid out at the maturity of the term, and you can open a Bankwest term deposit and take advantage of this great rate online, over the phone or in person.

Features of a tddirect Term Deposit with Bankwest

You can apply for a tddirect term deposit account with Bankwest over the phone, online or in person, and you can also follow the progress of your investment online. This online term deposit account offers:

• No set up or ongoing fees.
• A minimum balance of just $1,000 is required.
• A three month term, earning 3.61% interest, with interest paid at maturity.
• A six month term, earning 3.51% interest, with interest paid at maturity.
• A 12 month term with the option for interest to be paid monthly, quarterly, six monthly or at maturity.
• On a 12 month term, you can earn 5.80% if interest is paid at maturity.

The tddirect term deposit account suits anyone with $1,000 to $5 million to invest. With a short term, and a great interest rate, you can have your savings earning a guaranteed interest rate and you don’t have to worry about managing investment accounts, or be concerned with anything else going on in the financial markets in Australia or around the world.

Features of a Bankwest Term Deposit Account

Bankwest’s Gold Term Deposit account offers you a wider choice of terms for your investment as you can lock in your funds for anywhere between one month and five years. Compare the features of the Gold Term Deposit:

• No set up or ongoing fees.
• A minimum balance of $5,000 is required.
• Investments can be up to $2 million.
• The option to choose a term from one month to five years.
• The option for investments of more than one year to have returns paid monthly, quarterly, six monthly, annually or at maturity.
• On a 12 month term you can earn 5.80% if interest is paid at maturity.
• You can earn up to 7.00% on a five year term if interest is paid annually or at maturity.
• You have the ability to take 10 days at the end of the term to decide whether to reinvest your principal amount, your interest, both your principal and interest, or choose an alternative investment option.

With an online application and a wide range of terms, payment options and interest rates, there is no need to be worried about the rigidity of locking your savings into a term deposit because you can take the time to choose a term and a payment schedule which perfectly suits your needs and lifestyle.

Choosing an Early Release Term Deposit

If you are looking for the guaranteed interest rate and return of a term deposit investment, but you’re worried about being penalised if you access your funds, with an Early Release Term Deposit account Bankwest guarantees you a constant interest rate for 12 months on your funds and you can access your money at any time in case of an emergency and still earn your guaranteed rate. So, how does an Early Release Term Deposit account work:

• There are no fees or charges associated with the account on set up, for transactions or at the time of withdrawals.
• The Early Release Term Deposit account requires a minimum of $10,000 opening deposit.
• ou can lock in a 2.20% interest rate on your funds for 12 months.
• There are no penalty fees if you need to access your funds after the first month.
• Your interest rate is not affected if you need to access your funds after the first month, as long as the balance remains above $10,000 for 12 months.

The Early Release Term Deposit really is the best of both worlds because you know if you maintain your balance above $10,000 you are guaranteed the 2.20% interest rate for 12 months, however if you decide to reinvest part of your funds, or need access to your money to cover an unexpected cost, you have the freedom to access your funds without penalty.

To Apply for a BankWest Term Deposit

Compare the Bankwest term deposit accounts available here and choose one with features, benefits and inclusions which meet your needs and savings targets. Then simply apply online, over the phone or in a branch.

To apply for a Bankwest term deposit account:

• Applying online you will need details of the linked account from which you intend to transfer your investment, you’ll need your tax file number and you simply need to enter your personal details and choose an investment term and payment schedule.
• Applying over the phone you will also need details of where your initial investment will come from, as well as your employer’s contact details and your tax file number.

• you’ll need to bring all of your identification documents and a cheque or bank cheque as your initial deposit, unless you are transferring your deposit from an existing Bankwest account.

• Anyone over 12 years old can open a Bankwest term deposit account.
• Term deposits can be opened in joint names for easier access to funds for all investees.
• In your application you will be asked to choose your initial investment amount, your term and how often you want the returns to be paid.

If you start an online application which is interrupted, Bankwest automatically and progressively saves your application and emails you an access code so you can resume your saved application at any time. If you get really stuck, you can call the friendly, Australian-based Bankwest call centre anytime from 7 am – 7 pm during the week and 8 am – 4 pm on the weekends.

Once you have compared the features of each Bankwest term deposit account, follow our secure link to the Bankwest website for contact details, branch locations or an online application form. In as little as ten minutes you could have your hard earned savings locked away, continuing to work hard for you.