Updated 13 August 2026 — rates from CDR APIs
Bankwest Hero Saver vs ING Savings Accelerator
Bankwest's 5.10% beats ING's 4.80% — but only if your balance grows every month. ING asks for nothing and pays a flat rate regardless. Here's when each account wins.
Bankwest
Hero Saver
5.10% p.a.
ongoing rate (one condition required)
- ✓ Higher ongoing rate
- ✓ One simple condition — balance just needs to grow, no minimum amount
- · Earns 0.65% if condition missed
- · $250,000 bonus rate cap
ING
Savings Accelerator
4.80% p.a.
ongoing rate — no conditions required, on balances up to $2m
- ✓ Zero conditions — ever
- ✓ No linked account required
- · Rate applies to every dollar up to $2m — drops to a lower rate above that
- · Lower ongoing rate than Bankwest
Head-to-head comparison
| Bankwest Hero Saver | ING Savings Accelerator | |
|---|---|---|
| Ongoing rate | 5.10% | 4.80% |
| Rate if condition missed | 0.65% | N/A — no conditions |
| Conditions required | Balance must grow (any amount) | None |
| Balance cap on top rate | $250,000 | $2,000,000 |
| Linked account required | No | No |
| Minimum age | 14 | 18 |
Rates current as of 13 August 2026. Always verify directly with the bank before opening an account.
What the rate difference means in dollars
Annual interest at ongoing rates, assuming the Hero Saver condition is met every month.
| Balance | Bankwest annual interest | ING annual interest | Difference |
|---|---|---|---|
| $25,000 | $1,275 | $1,200 | Bankwest +$75 |
| $50,000 | $2,550 | $2,400 | Bankwest +$150 |
| $100,000 | $5,100 | $4,800 | Bankwest +$300 |
Rates current as of 13 August 2026. Always verify directly with the bank before opening an account.
Bankwest's condition is easy to meet but easy to miss by accident
Your closing balance just needs to be higher than it was at the start of the month — no minimum deposit amount. But the check is on your month-end balance, not individual transactions, so a withdrawal late in the month that isn't offset by a larger deposit before the month closes is the most common way to lose the bonus. Interest payments don't count as growth. Miss it and you drop to 0.65% for that month — ING pays 4.80% unconditionally either way.
Choose Bankwest if…
- → You're actively saving and confident your balance will grow most months — the condition costs nothing if you're already building savings.
- → You want the higher rate and can track a simple month-end balance check — no card spend, no linked account, no fixed deposit amount.
Choose ING if…
- → You want zero ongoing admin. ING earns its rate automatically every month, no conditions to track.
- → Your balance is irregular — you might withdraw some months, or can't guarantee a net positive movement every month.
- → You're a retiree or drawing down on savings. ING doesn't penalise you for balance decreases.
The information on this page is general in nature and does not constitute financial advice. Rates are subject to change — verify directly with the provider before making a financial decision.
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