Bankwest

Established by the Western Australian government in 1895, Bankwest has developed a number of highly competitive banking products and services that give the Big Four Banks a run for their money.

This year has also seen Bankwest earn the title of Money Minder of the Year in Money Magazine’s 2011 Bank of the Year Awards, and with the following six savings accounts to choose from it is definitely a bank that could give people their money’s worth.

Regular Saver – Best Account For High Interest

The Regular Saver offers account holders an outstanding interest on their savings when regular deposits of $50 to $500 are made every month.

This account is usually one of the highest interest rates for an online saving account, with most other options sitting slightly lower when bonus interest is calculated.

The only other requirements are to link the Regular Saver to an everyday Bankwest account and make sure the opening deposit is no more than $500, then you can be on your way to earning a lot more for putting away as little as $12.50 per week.

Instant Saver

The Instant Saver account is Bankwest’s most basic saving account option, combining good access with a standard but competitive interest rate on all balances all the time.

It features unlimited free ATM withdrawals from the Bankwest network, four free non-ATM electronic withdrawals per month and no maintenance fee for balances over $500.

Kids Bonus Saver

With an extremely high interest rate when monthly deposits of $25-$250 are made, it is no wonder this account has won Money Magazine’s Best Kids Savings Account award for five years in a row.

This online savings account is also linked to the Children’s Savings Account, where everything over $1 will be transferred after 12 months, making it ideal for teaching kids about goal-based savings.

Smart eSaver

This online savings option offers a variable standard on all balance, which goes up to a higher rate for every month there are no withdrawals.

The Smart eSaver provides a great savings incentive for people who may not be able to deposit regular amounts of money every month, because they can simply earn a bonus for leaving their savings alone.

Solid Gold Saver

People who have large amounts of money but do not want to use a term deposit option could find the Solid Gold Saver a nice compromise.

This account offers a standard interest rate on balances over $10,000, with interest reducing by 1% for every transaction made in a month before reverting back to the higher rate of interest.

TeleNet Saver

This online savings account can be linked to any other bank account in Australia and offers a competitive ongoing rate.

The big drawcard for this account is that people who sign up before the end of 2011 will get a bonus rate of 6.05% p.a. for the first 12 months, with no minimum deposit required.

With all of these different accounts to choose from, chances are Bankwest has a savings option worth considering for any savings plan.