Bankwest Hero Saver Summary
Description
A savings account that rewards you for growing your balance
Benefits
- No monthly savings-account fee.
Hoops
- Applicants must be at least 14.
- For bonus interest, grow the balance by at least $0.01 each month. Check the full requirements below.
- Ongoing rate cap: $250,000.99. See the rate breakdown for higher balances.
On this page
Details
Key details
| Product name | Bankwest Hero Saver |
|---|---|
| Maximum variable rate | 5.35% p.a. |
| Ongoing interest rate | 5.35% p.a. |
| Base interest rate | 0.10% p.a. |
| Minimum age | 14 years |
Source: noren.com.au
All comparison details
| Base | 0.10% |
|---|---|
| Ongoing | 5.35% |
| Ongoing cap | $250K |
| Intro | - |
| Intro cap | - |
| Intro period | - |
| Dep/mth | 0 |
| Dep $/mth | - |
| Growth/mth | $0.01 |
| Buys/mth | 0 |
| Txns/mth | - |
| W/d/mth | - |
| Min age | 14 |
| 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: 0.10% p.a., before bonus interest.
- Ongoing: 5.35% p.a. when bonus conditions are met. Up to $250,000.99.
Full rate breakdown
| Type | Rate | Applies to | Balance |
|---|---|---|---|
| Base rate component | 0.10% | This band only | First $5,000,000.99 |
| Base rate component | 0.00% | This band only | Over $5,000,000.99 |
| Ongoing total, conditions met | 5.35% | This band only | First $250,000.99 |
| Ongoing total, conditions met | 0.10% | This band only | Over $250,000.99 to $5,000,000.99 |
| Ongoing total, conditions met | 0.00% | This band only | Over $5,000,000.99 |
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
- Balance excluding interest at close of business on the last business day must exceed the balance on the first business day. Withdrawals are permitted if growth is still achieved. Bonus only on the first $250,000.99, base on the next portion to $5,000,000.99, then zero.
Fees
- Monthly account fee: $0
Showing reviewed fees only, other charges may apply
How to apply
Check these eligibility requirements before applying with Bankwest.
- The Hero Saver is an interest bearing account for personal customers. If applying through staff assisted channels, be aged 14 years or older. If applying through online channels, be aged 16 years or older. Effective 4 May 2026, the applicant cannot be a trustee of any trust. Additional eligibility criteria apply to joint accounts.
- The Hero Saver is an interest bearing account for personal customers aged 14 years or older. If applying through staff assisted channels, be aged 14 years or older. If applying through online channels, be aged 16 years or older. Effective 4 May 2026, the applicant cannot be a trustee of any trust. Additional eligibility criteria apply to joint accounts.
- 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.
- 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.