Savings account
Westpac Life
Current savings rate from Westpac. Compare the ongoing rate, bonus conditions, introductory offers, and eligibility in one place.
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).
What to know
This page focuses on the ongoing rate: 5.00% p.a. That is the rate after any honeymoon period ends.
To earn the full rate, you need to meet these conditions: 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).
If you miss the conditions in a given month, you earn only the base rate: 0.10% p.a.
Eligibility: minimum age 18 .
Get alerted when this rate changes
We'll email you when Westpac Life changes. No spam, unsubscribe any time.
Compare more accounts
The information on this page is general in nature and does not constitute financial advice. Rates are subject to change — verify directly with the provider before making a financial decision.