Savings account

Hero Saver

Current savings rate from Bankwest. Compare the ongoing rate, bonus conditions, introductory offers, and eligibility in one place.

Hero Saver

View on bank website ↗ 14+
5.10% p.a.
ongoing rate
Rate breakdown
Base rate: 0.65%
Bonus rate: + 4.45%
How to earn it

Your closing balance for the month (excluding interest) must be higher than your closing balance at the end of the previous month. There is no minimum deposit amount, but any net outflow during the month forfeits the bonus rate. One Hero Saver account per person.

The condition is based on your balance at month-end, not on 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.

Rate current since 22 May 2026.

What to know

This page focuses on the ongoing rate: 5.10% p.a. That is the rate after any honeymoon period ends.

To earn the full rate, you need to meet these conditions: Your closing balance for the month (excluding interest) must be higher than your closing balance at the end of the previous month. There is no minimum deposit amount, but any net outflow during the month forfeits the bonus rate. One Hero Saver account per person.

If you miss the conditions in a given month, you earn only the base rate: 0.65% p.a.

Most common catch: The condition is based on your balance at month-end, not on 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.

Eligibility: minimum age 14 .

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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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