BankWest lifts deposit rates

BankWest has passed on the Reserve Bank's cash rate increase to its deposit customers by increasing the TeleNet Saver's 12 month variable introductory rate from 7.00 per cent to 7.20 per cent while the standard ongoing rate has been increased by 25 basis points to 6.75 per cent. The bank's business customers do not miss out with the AgriOne account rate up by 25 basis points to 6.0 per cent and the Business TeleNet Saver rate increased by the same amount to 6.85 per cent.