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Bank accounts
Whether you're managing your day to day or working towards your goals, Westpac bank accounts are designed to make it easy to stay in control. Explore our range of transaction and savings accounts.
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Savings account
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Everyday banking & savings accounts
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Cashback offer
Bank Account with Debit Card
Westpac Choice is our most popular account. A simple-to-use everyday bank account.
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Offer
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You could earn $50 cashback with a new account.
If you open a new Westpac Choice everyday account and an eligible savings account by 31st March 2027, here's how you could get $50:[#]
- Spend at least $50 on your debit card within 15 days of opening on eligible purchases
- You must not have held any Westpac transaction account or savings account in the last 2 years
- Accounts must be in your name only (no joint accounts).
Features
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- Award winning - Voted Canstar's Outstanding Value for Transaction Accounts 2024-2026 and WeMoney Winner 2025 for Best Quality - Transaction Accounts.
- $0 monthly and withdrawal fees - No Account-Keeping Fees for at least 12 months. Then, for deposits of $2,000 a month or eligible customers (details in fees section). No cash withdrawal fees from Westpac and select partner ATMs
- Instant Digital Card - Use your digital card right away, before your physical Debit Mastercard® arrives. Add your debit card to your mobile wallet or use it in the Westpac App.
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Cashback offer
Goal savings account for regular savers
Make your savings work harder to achieve your goals with Westpac Life. You could earn bonus interest each month your balance grows.
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Rates
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Earn up to:
5.00% p.a.
Total variable interest rate
With a:
0.10% p.a.
Standard variable base rate
To earn bonus interest[#] over the month:
- Account balance must not fall below $0 at any time
- Make at least one deposit. Interest paid into the account doesn't count
- Account balance on the last business day of the month is higher than the account balance on the last business day of the previous month
Features
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- Bonus interest - You could boost savings each month you grow your balance.
- Bucket your savings - In up to 6 different Savings Goals with just one account.
- Set Savings Goals - Track how much you should save to reach your goal or create a shared goal and invite others to contribute.
- Separate savings - Check savings and spending in one view with the Westpac App.
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Term deposit account for long-term savers
A fixed interest rate means you'll know exactly how much you'll earn. Make the most of our bonus interest offer and choice of different terms.
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Rates
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12 months Special Offer
5.30% p.a.
Open or renew online fixed rate[#]
Special offer rate[#] are available from 21/09/2026:
- On Term Deposits opened or renewed by a Westpac Customer
- For deposits of $5,000 to $2,000,000
- Interest payments paid monthly, half-yearly or at maturity. T&Cs apply.
Features
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- Fixed return - With a fixed interest rate over a fixed term, you’ll know exactly how much you’re going to earn.
- Choice of terms - Pick a term from 1 month to 5 years, knowing your money will be invested securely.
- Easy to manage - Easily view and manage your investment in Online Banking and the Westpac App.
- Options at maturity - Choose whether to renew funds or withdraw, or set up instructions in advance
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Cashback offer
Westpac Choice Youth bank account with debit card
A simple-to-use kids bank account with a debit card that will grow up with you.
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Offer
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Double your $50 when you bank and save with Westpac
Open a new Choice Youth everyday account and an eligible savings account together by 31st March 2027, and here's how you can get $50:[#]
- Deposit $50 or more into your new Choice Youth everyday account within 10 days.
- We’ll add $50 to your savings account once you meet the criteria.
- You must not have held any Westpac transaction account or savings account in the last 2 years.
Features
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- Award winning - WeMoney Winner 2025 for Youth Account of the Year & Canstar's Outstanding Value for Junior & Youth Banking 2024-2026
- We’ve got your back - 24/7 fraud monitoring and our Fraud Money Back Guarantee
- Pocket money - Set up regular pocket money payments paid directly into their account.
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Cashback offer
New to Australia? Westpac Choice bank account with debit card
An everyday bank account with features designed for people who have recently arrived in Australia.
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Offer
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You could earn $50 cashback with a new account.
If you open a new Westpac Choice everyday account and an eligible savings account by 31st March 2027, here's how you could get $50:[#]
- Spend at least $50 on your debit card within 15 days of opening on eligible purchases
- You must not have held any Westpac transaction account or savings account in the last 2 years
- Accounts must be in your name only (no joint accounts).
Features
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- Award winning - Voted Canstar's Outstanding Value for Transaction Accounts 2024-2026 and WeMoney Winner 2025 for Best Quality - Transaction Accounts.
- $0 monthly fees - No Account-Keeping Fees for at least the first year.
- No cash withdrawal fees from Westpac and select partner ATMs.
- Unlimited transactions and account enquiries.
- No international transfer fees to send money overseas via Online Banking or the Westpac App (other fees may apply).
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- product-service:savings-accounts/life-choice-spend-save
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Cashback offer
Spend&Save for 18-40 year olds
Aged 18-40? You could earn bonus interest when you Spend&Save using a Westpac Life and Choice account together.
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Rates
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Earn up to:
5.75% p.a.
Total variable interest rate
With a:
0.75% p.a.
Spend&Save variable bonus rate (on up to $150,000)
To earn the Spend&Save variable bonus rate:[#]
- Be aged 18-40 with a Westpac Life and Westpac Choice account in your name
- Make at least 20 eligible purchases with the Debit Mastercard® linked to your Westpac Choice account
- Purchases made with eligible transactions
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- Fee waivers - $0 monthly fees for under 41s or full-time tertiary students.
- Spending vs saving - Separate spending and saving for simple money management.
- Spend&Save bonus - Use your linked debit card 20+ times a month for bonus interest.
- Exclusive offers - Check out our customer-only discounts and offers, including bonus Cashback on over 4,000 brands with ShopBack.
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Cashback offer
Online savings account for short-term savers
Save smarter with Westpac eSaver. Enjoy an intro rate for the first 5 months for new customers, unlimited withdrawals, and 24/7 access to your savings.
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Rates
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Intro rate:
5.25% p.a.
Online application (sole applicants only)
Intro rate:
4.80% p.a.
In-branch or staff assisted applications
The 5-month introductory rate[#] applies for:
- Sole applicants who have never held an eSaver account before
- Joint account holders where the primary account holder has never had an eSaver account
- The first 5 months, on top of the standard variable rate. After 5 months, the standard variable interest rate of 1.25% p.a. will apply.
Features
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- Introductory rate - Fixed rate for the first 5 months for new eSaver customers.
- $0 monthly fee - No eSaver Account-Keeping Fees (other fees may apply).
- Unlimited access - Move and access your funds with your linked Westpac everyday account.
- Online account - With no minimum deposit or monthly balance requirements.
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Cashback offer
Youth savings account
Get a Westpac Bump account to separate your savings from your spending. Set up Savings Goals and get bonus interest when you make regular savings.
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Rates
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Earn up to:
5.05% p.a.
Total variable interest rate
With a:
1.75% p.a.
Standard variable base rate
To earn bonus interest[#] over the month:
- Account balance must not fall below $0 at any time
- Make at least one deposit. Interest paid into the account doesn’t count
- Account balance on the last business day of the month is higher than the account balance on the last business day of the previous month.
Features
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- Zero monthly fees - There are no account-keeping or transaction fees, but other fees might apply.
- Bonus interest - You could boost savings each month you grow your balance.
- Make shared savings goals - Sharing your saving goals with others may motivate you to save even more.
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55+ and Retired
An everyday account with a debit card that gives you interest like a savings account.
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Rates
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Earn up to:
2.65% p.a.
Total variable interest rate
With a:
0.05% p.a.
Minimum variable interest rate
Variable interest rate is calculated daily on your account balance:
- On the part of the balance up to $9,999 | 0.05% p.a.
- On the part of the balance above $9,999 to $49,999 | 1.70% p.a.
- On the part of the balance above $49,999 to $249,999 | 2.05% p.a.
- On the part of the balance above $249,999 | 2.65% p.a.
Features
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- $0 monthly and withdrawal fees - No Account-Keeping Fees for at least 12 months. Then, for deposits of $2,000 a month or eligible customers (details in fees section). No cash withdrawal fees from Westpac and select partner ATMs.
- Instant Digital Card - Use your digital card right away, before your physical Debit Mastercard® arrives. Add your debit card to your mobile wallet or use it in the Westpac App.
- Lock your card - Can’t find your card? Don’t panic. Temporarily lock it in seconds while you search.
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Award-winning accounts
Transaction account
Westpac Choice transaction account with a Debit Mastercard® voted:
- Canstar's Outstanding Value for Transaction Accounts 2024-2026
- WeMoney Winner 2025 for Best Quality - Transaction Accounts
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Find out more
Youth account
Westpac Choice Youth account (with a debit card for children 8 and over) voted:
- Canstar's Outstanding Value for Junior & Youth Banking 2024-2026
- WeMoney Winner 2025 for Youth Account of the Year
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Savings account
Westpac Savings account (with a debit card for children 8 and over) voted:
- Canstar's Outstanding Value for Savings Accounts 2026
- WeMoney Winner 2025 for Best Quality - Savings Accounts
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Rates and calculators
Calculate your savings potential
Estimate your monthly savings by starting with your current balance to determine how long it may take to reach your goal.
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Savings calculator
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Term deposit calculator
Use our calculator to explore how interest works for a term deposit.
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Term deposit calculator
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Savings account interest rates
Compare variable and fixed interest rates to help you decide what type of savings account works best for your needs.
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Savings rates
Term deposit interest rates
Check fixed interest rates for your chosen term and explore any available bonus rate offers.
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Term deposit rates
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Step 1 - Check you're eligible
About you
You must have an Australian residential address and be 14 years or over.
Conditions apply for under 14s.
Step 2 - Get your documents ready
Your identity
Not already a Westpac customer? You'll need at least 1 of these ID documents
- Passport
- Australian driver license
- Australian birth certificate
- Medicare card (can only be used in conjunction with a second form of ID)
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Explore the Westpac app and security features
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Westpac App
Australia's #1 Banking App
Rest assured knowing the smart budgeting and savings tools on Australia's best banking app[#] can help you get more from your dollars.
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Spend&Save
Everyday banking and up to 5.75% p.a. on savings
Aged 18-40? You could earn bonus interest when you Spend&Save using a Westpac Life and Choice account together.
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Award-winning security
Secure your account with safeblock
Find out how Canstar's 2026 Innovation Excellence Award winner SafeBlock can help keep you safe when you need it most by locking your cards and account.
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Other accounts
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Money matters
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Managing your bank account
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Things you should know
Protected by the Financial Claims Scheme (FCS): If you have a Westpac deposit account, in certain circumstances you may be entitled to a payment under the FCS. Payments under the FCS are limited for each customer. You can find out more information from the APRA website at www.fcs.gov.au.