8.25% interest at call with Telenet Saver @ BankWest (existing accounts also benefit)

6 May 2008

BankWest TeleNet Saver

As a proud sponsor of the Australian Olympic Team, we love to see someone giving their all. It's what our athletes will do in Beijing 2008, and it's what we're doing with BankWest TeleNet Saver featuring Australia's highest variable online rate of 8.25% p.a.

We've combined the ease and convenience of online banking with a new variable promotional rate of 8.25% p.a. that will be paid until 1 January 2009.

8.25% p.a. on balances up to $5million per customer *
Other rates apply
No fees and no minimum deposit.
24/7 access to your money via online and phone banking

AND IF you are already an introductory offer Telenet saver ie 7.75% rate then any funds you deposit in excess of what you had as of May1 will attract the higher rate of 8.25% ie if you had $400, then that gets 7.75% and if then add $100 then you get 8.25% on that extra deposit.

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  • nod
    Quite a nice rate if you don't have a savings account already :)
  • admin EDITOR
    I dont quite get their bit about those that are already on an introductory offer. Surely they could just close the introductory account with the lower rate and swap over to this one.
  • admin EDITOR
    hmm - I see what they mean. I guess you'd have to be a little liberal with the truth in trying to get swapped onto the new account.
  • ozpete
    I guess the only real way to get a "new" account is to have it linked to another account outside bankwest. Might give it a try one day. (You can only get 1 intro account). How they determine that I dont know. I had a joint account with the standard rate, then opened two separate accounts for tax reasons, and they said these could not be intro accounts as we already had had one. But when accounts opened they were intro rates (noticed our middle names were missing off the accounts, so maybe that had something to do with it). That said at least they do provide some way to get partial benefit. Considering that the alternative - Rabobank is offering only 7.80% and they haven't been passing on the full rate rises this is the best at call rate

What do you think?

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