Bankwest
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Bankwest is an Australian banking brand operating as a division of Commonwealth Bank of Australia. Its products include savings and transaction accounts, term deposits, credit cards and home loans, with a focus on digital banking through its app and online services. Founded in 1895 as the Agricultural Bank of Western Australia, Bankwest joined the Commonwealth Bank Group in 2008.
| Legal name | Commonwealth Bank of Australia |
|---|---|
| ABN | 48123123124 |
| Ownership group | CBA Group [4]Controlling entity: Commonwealth Bank of Australia |
| Deposit issuer | Commonwealth Bank of Australia [1] |
| Deposit protection | Eligible AUD deposits are covered up to $250,000 per account holder across this issuer, including its other brands. [5] |
| Same issuer brands | CommBankEligible deposits across these brands share the issuer’s FCS limit. |
| Banking identity | Bankwest operates under the Commonwealth Bank banking licence [1] |
| Banking access | Digital banking with app support. Bankwest no longer operates branches. [3] |
Savings rates
Compare allRates p.a. at a balance of $699.
| Easy Saver | Visit | 5.25% | 5.25%Ongoing cap: $250K | $250K | 6.00%4 mths | $250K | 4 mths | 0 | - | $0 | 0 | - | - | 16 | - | $0 | - |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Easy Saver (Interesting Rates competition winners) | Visit | 5.25% | 5.25%Ongoing cap: $250K | $250K | 11.50%4 mths | $250K | 4 mths | 0 | - | $0 | 0 | - | - | 18 | - | $0 | - |
| Hero Saver | Visit | 0.10% | 5.35%Ongoing cap: $250K | $250K | - | - | - | 0 | - | $0.01 | 0 | - | - | 14 | - | $0 | - |
| Retirement Advantage Account | Visit | 0.05% | 0.05%Ongoing cap: $10K | $10K | - | - | - | 0 | - | $0 | 0 | - | - | 55 | - | $0 | - |
Source: noren.com.au
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Savings products
Bankwest Easy Saver
A variable-rate savings account. The reviewed ongoing rate has no monthly activity requirements. An introductory offer is available to eligible customers.
Hero Saver
A variable-rate savings account. Bonus interest depends on meeting the account’s monthly requirements.
Retirement Advantage Account
A variable-rate savings account. The reviewed ongoing rate has no monthly activity requirements.
Useful links
Similar institutions
Sources and review
- Institution background (commbank.com.au)
- APRA ADI register (apra.gov.au)
- Banking access (bankwest.com.au)
- Ownership group information (commbank.com.au)
- APRA FCS institution list (apra.gov.au)
Bankwest data reviewed . Next profile review due .