What happens if I have more than $30,000 in my Westpac Life savings account?
The Spend&Save variable bonus interest (1.5% p.a.) applies to the first $30,000 in your Westpac Life account, while the Westpac Life variable base interest (0.15% p.a.) and variable bonus interest (0.35% p.a.) applies to your entire savings balance.
For example, if you have $40,000 in your Westpac Life account, and you fulfil all the criteria that month, you will receive:
- 2.00% p.a. variable interest on $30,000
- 0.50% p.a. variable interest on $10,000