BankWest sets pace in high yield accounts

Bank of Western Australia has launched a high-yield online savings account with introductory interest rates of 6 per cent all up. The at-call savings account has an opening variable rate of 5.25 per cent, plus an introductory bonus rate for 12 months of 0.75 per cent. At 6 per cent in total, the BankWest high yield account exceeds that of Citibank's Online Cash Manager at 5.4 per cent and ING Direct's Savings Maximiser at 5.25 per cent.