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BankWest TeleNet Saver 6.05% p.a.

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BankWest TeleNet Saver 6.05% p.a.
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Jabei on 28/02/2012 - 16:21 bankwest.com.au (329 clicks)

For a limited time only, the Bankwest Telenet Saver includes a bonus 0.25% p.a. for accounts opened between 28 February and 5 March 2012. That's a 6 month variable intro Bonus Booster rate of 6.05% p.a! Plus, you'll get our high ongoing variable rate after 6 months, now 4.75% p.a.

This high interest online savings account is ideal for people who enjoy meaningful benefits, like no monthly fees, no minimum balance, 24/7 phone and online access to your savings and an awesome rate.

New TeleNet Saver Customers Only

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closed Comments

  • SBOB on 28/02/2012 - 16:44

    Their site seems to say 6.05 + 0.25% for the 6 mths (then back to the crappy rate)

    -> So its really 6.3%pa for 6 months (or 0.25% above whatever the variable rate changes to during those 6 months)

    • lusicul on 28/02/2012 - 16:46

      I think 6.05% is inclusive of the bonus 0.25%

      • SBOB on 28/02/2012 - 17:34
        +1

        true, the line
        " The special variable intro rate of 6.05% p.a. includes our current variable intro rate of 6.05% p.a. plus a guaranteed bonus rate of 0.25% p.a."

        Talk about an unclear explanation…

    • petestrash on 28/02/2012 - 16:54

      I agree the website is a little confusing.

      If you look at this
      http://www.ubank.com.au/ub/web/usaver/online-savings-compare…

      You will see the regular "intro" rate for Bankwest was 5.80%, it is now 6.05% (or 0.25% above whatever the intro rate becomes over the next 6 months).

  • c64 on 28/02/2012 - 16:44
    +6

    bah, ubank is 6.01% with $200 asp deposit each month

    • [Deactivated] on 28/02/2012 - 17:39
      +3

      and is ongoing- not just for a few months.

      • rifter on 28/02/2012 - 19:33

        Costs me more than 0.04% to move my money in and then out again. Around 4 days lost interest.

        • TtiGeR on 29/02/2012 - 06:06

          Um.. true

        • chyawala on 01/03/2012 - 14:36

          First transfer $1, it will take two days, then subsequent transactions only take one day.

  • shortgum on 29/02/2012 - 03:45

    time to move my money from ubank to telnet (transfer no need 4days - mention by rifter) . one instant day will do once telnet account setup.

    6.05 is equivalent to 6.22 term deposit 6months rate if no rate change

    A=P(1+r/100)^n forumula

    shame i put most my money in ubank term deposit with 6.11.

    • TtiGeR on 29/02/2012 - 06:08

      If rate goes down…

    • chyawala on 01/03/2012 - 14:38

      As mentioned above only the first transfer takes two days, so move only $1 to start with.

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