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Gold Term Deposit

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Calculate term deposit interest for Bankwest

Deposit amount

Savings term

months

Pros and Cons

Pros:
  • Covered By government guarantee
  • Interest can be paid to other institution
Cons:

    Bankwest term deposit rates

    Savings Term
    $5,000 - $2,000,000
    1 month 1.50%
    2 months 1.50%
    3 months 2.00%
    4 months 1.50%
    5 months 1.50%
    6 months 1.90%
    7 months 1.50%
    8 months 1.50%
    9 months 1.85%
    10 months 1.50%
    11 months 1.50%
    1 year 1.90%
    2 years 1.75%
    3 years 1.75%
    4 years 1.80%
    5 years 1.85%

    Features

    Fees

    FAQs

    Yes, term deposits are covered by the Australian government guarantee.

    Under the Financial Claims Scheme, the Australian government guarantees term deposits up to $250,000, capped at one person, per financial institution.

    This means that your term deposit (if it’s $250,000 or less) is protected in the unlikely event the bank, building society or credit union collapses.

    If you have more than $250,000 in a term deposit with one the one bank, for example, then only up to $250,000 of your principal is covered.

    If you’ve got more than $250,000 and you wish to invest in a term deposit, you could consider dividing your money between term deposits and banks (limiting each deposit to $250,000 per bank).

    That way all of your deposits are protected by the Australian government guarantee and you will not suffer any financial losses.

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