The Bankwest Regular Saver is a high interest savings account that might be suitable for those that are seeking to save up to $500 per month and do not require access to these funds.

The interest rate is very high currently 6.00% pa. However to qualify for this interest rate you need to deposit between the minimum $50 and maximum $500 per month and make no withdrawals. Any month where you do not meet these requirements the interest will be nil.

The Regular Saver account must also be linked to one of the following Bankwest accounts in the same name:

• Bankwest Hero Transaction Account
• Bankwest Zero Transaction Account
• Instant Saver Account
• Gold Cash Management Account
• Lite Transaction Account – Direct or Transaction option
• Complete Account
• Reward Pension Saver Account

Another restriction is that you must be 15 years of age or older.

This account is therefore suitable only for those who are specifically interested or able to deposit $50 to $500 per month and are not going to make withdrawals. For those that wish to deposit lump sum amounts then another Bankwest product the Telenet Saver account might be more suitable.

For more information click through to the Bankwest Regular Saver page.

Disclaimer: Product features including interest rates and qualifications change without notice. Please check all details with the product provider before making any decision.