Bankwest Retirement Advantage Account Summary
Description
An everyday bank account with no maintenance fees that rewards you with interest. For those aged 55 and over.
Benefits
- No monthly savings-account fee.
- No monthly activity requirements for the ongoing rate.
Hoops
- Applicants must be at least 55.
- Ongoing rate cap: $10,000. See the rate breakdown for higher balances.
On this page
Details
Key details
| Product name | Bankwest Retirement Advantage Account |
|---|---|
| Maximum variable rate | 0.05% p.a. |
| Ongoing interest rate | 0.05% p.a. |
| Base interest rate | 0.05% p.a. |
| Minimum age | 55 years |
Source: noren.com.au
All comparison details
| Base | 0.05% |
|---|---|
| Ongoing | 0.05% |
| Ongoing cap | $10K |
| Intro | - |
| Intro cap | - |
| Intro period | - |
| Dep/mth | 0 |
| Dep $/mth | - |
| Growth/mth | $0 |
| Buys/mth | 0 |
| Txns/mth | - |
| W/d/mth | - |
| Min age | 55 |
| Max age | - |
| Fee/mth | $0 |
Source: noren.com.au
Rates & features
Interest rates
Variable rates % p.a. at $699, assuming applicable bonus conditions are met.
- Base: 0.05% p.a..
Full rate breakdown
| Type | Rate | Applies to | Balance |
|---|---|---|---|
| Standard variable | 0.05% | This band only | First $10k |
| Standard variable | 1.55% | This band only | Over $10k to $50k |
| Standard variable | 2.05% | This band only | Over $50k to $250k |
| Standard variable | 2.55% | This band only | Over $250k |
Source: noren.com.au
Share/Export
This band only: the rate applies to the money within the listed balance range. Other portions earn their own rates.
Requirements
- No ongoing monthly deposit, purchase or balance-growth conditions in the reviewed pricing.
Fees
- Monthly account fee: $0
Showing reviewed fees only, other charges may apply
How to apply
Check these eligibility requirements before applying with Bankwest.
- A bank account exclusively for those aged 55 and over, for joint accounts one customer must meet this age requirement and additional eligibility rules apply. For applications post 15 April 2025, this product cannot be opened by an individual in their capacity as an executor/administrator of a deceased estate.
- The Retirement Advantage account is an account for customers who are aged 55 or over.
- Australian citizen or Australian permanent resident: Customer must have a residential address in Australia (limited exceptions may apply subject to conditions)
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Sources & review
Noren aggregates information from multiple primary sources to ensure you're getting the most up-to-date, accurate information. All product information is peer reviewed.
Collected on 31 Oct 2026. Pricing verified on 27 Oct 2026.