Savings account
Hero Saver — Bankwest
Current savings rate from Bankwest. Compare the ongoing rate, bonus conditions, and eligibility in one place.
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.
Bonus rate applies on balances up to $250,000
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 History
The Hero Saver rate has not changed since we started tracking on 22 May 2026. Current rate: 5.10% p.a.
| From | To | Ongoing rate p.a. |
|---|---|---|
| 22 May 2026 | — | 5.10% Current |
What to know
This page focuses on the ongoing rate: 5.10% p.a.
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.
The bonus component is capped at $250,000.
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.