Westpac
Big4Westpac offers three savings accounts with varying structures. The Bump Savings account is available for those aged 17 and under, offering 4.8% when a deposit is made, the balance grows, and it stays above zero. Westpac Life targets adults aged 18 and over with a 4.75% rate under the same monthly growth conditions. The eSaver suits those aged 14 and over with a 4.55% introductory rate for five months, reverting to a 1.0% base rate.
Savings Accounts
Make at least one deposit and ensure your balance is higher at month end than at month start. A separate Spend&Save bonus (+0.75%) is also available for customers aged 18-34 who make 20+ settled debit card purchases on a linked Westpac Choice account (applies on balances up to $30,000).
Then reverts to 1.25% ongoing rate.