Bank West offers 8.5% on 7 month term deposit

6 May 2008

I was enquiring about this today and was told the rate would increase 'tomorrow' but they wouldn't tell me. I checked their website after close today and found the following

A BankWest Gold Term Deposit Account helps you secure your future with a guaranteed rate of return - 8.50% p.a. for 7 months. Interest is paid upon maturity, there are no bank fees and you can invest as little as $5,000 right up to $2 Million.

A great rate of up to 8.50% p.a. guaranteed throughout the term.
Choice of terms ranging from 1 to 12 months, or even longer
No bank fees
When your term deposit matures, enjoy 10 days grace to consider your options
You can make withdrawals during the term - but the interest rate will be adjusted.

TOPICS:   Shopping


  • nod
    They are certainly offering some great rates - .45% ahead of the others at least
  • admin EDITOR
    Thats interesting - no fee's but there are penalties for withdrawing early. Not fixed amount ones - they just deduct from your original interest rate - somewhere between 2.2 and 1.7%
  • luong
    ... too bad they are making loss. Nevertheless, still a great deal.
  • nod
    :flowers: Welcome to Buckscoop Luong I guess the name of the game at the moment it to gather as much cash as you can to avoid problems with the credit crunch :) So a loss now may mean a win for them later
  • ozpete
    ... too bad they are making loss. Nevertheless, still a great deal.
    please explain :confused:
  • port
    I saw an ad in yesterdays paper for ERB where they offer 8.6% for term deposits. It's a great time to be a saver!
  • nod
    If you mean ]Elders Rural Bank Port - they only have earn up to 8.4% on their site

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