(30 July 2007 – Australia) BankWest has already put its balance sheet where its mouth is by launching a savings account offering eight percent interest.BankWest, owned by UK bank HBOS, recently announced plans to open 160 new branches on Australia’s eastern seaboard over the next three to four years.
The bank said its BankWest Regular Saver Account was designed to help Australians save by offering them a strong incentive to start saving.
The bank said the product was the first of a number of new products to be launched.
BankWest head of Deposits, Paul Vivian, said the bank was reinvigorating the savings space and leading the charge.
He said the new product would provide an opportunity and incentive to save for a goal such as a mortgage or holiday over a 12 month period.