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Why open a Westpac eSaver savings account?

  • Competitive standard variable interest rate
  • Bonus fixed interest rate for the first 5 months¹
  • No account-keeping fee²
  • No minimum deposit or monthly balance
  • Unlimited withdrawals and deposits via a linked everyday account
  • Manage and access your account 24/7 using only Online Banking³
     

Tip: Once you arrive in Australia, you can apply online in just a few minutes. We'll need to verify your ID, which may mean we need to see you in person at your nearest branch.


Earn interest on your savings while you settle in

5.20% p.a.

Total variable interest rate for the first 5 months

|

1.10% p.a.

Standard variable interest rate after 5 months

Earn up to 5.20% p.a. in total interest for the first 5 months when you open a new Westpac eSaver account within 12 months of arrival4

  • The rate of 5.20% p.a. for the first 5 months is a combination of a fixed introductory rate of 3.55% p.a. and a new arrival fixed bonus rate4 of 0.55% p.a. on top of the standard variable rate, currently 1.10% p.a.  
  • Bonus offer available from 10/10/2023 for a limited time only. Only available for new eSaver accounts opened by sole applicants who are new arrivals to Australia and have never held an eSaver account. 
     

Pair up your Westpac eSaver with an everyday account

Westpac eSaver savings account

Bonus interest on your savings for the first 5 months

plus

Westpac Choice transaction account

Everyday bank account with access via a Debit Mastercard®5

Get more with a Westpac Choice account

Open a new Westpac eSaver account and we'll also open a Westpac Choice account if you don't have one yet. You’ll get the benefit of an everyday account with a debit card to make deposits and withdrawals, plus:

Instant Digital Card®

There’s no need to wait for your physical card. Use the digital version6 in the Westpac App.

 

$0 monthly fee

No monthly fees for your first year if you've arrived in Australia within the last 12 months.

$0 overseas transfer fees

No international transfer fees7 when you send funds via Online Banking or the Westpac App.

Exclusive offers

Access discounts, cashbacks and special offers just for being a Westpac customer.

The details

Introductory special rate for the first 5 months  
Total introductory variable rate 4.65% p.a.
5 month introductory fixed rate 3.55% p.a.
Standard variable rate 1.10% p.a.

When does the introductory special rate apply?

An introductory fixed bonus rate of 3.55% p.a. applies for the first 5 months, on top of the standard variable rate when you are a new Westpac eSaver customer.

After 5 months, the standard variable interest rate, currently 1.10% p.a. will apply to your eSaver account.

When is interest paid to my eSaver account?

Interest is paid on the last business day of each calendar month.

Balances in your account on or after the last business day won't be included in the interest calculation for that month but will be included in the interest calculation for the following month. Balances include deposits made to your account.

Westpac Protect™ Online Banking Security Guarantee

If your Westpac account is compromised due to Online Banking fraud, we guarantee to repay any missing funds, provided you complied with our Online Banking Terms and Conditions.
 


 

Westpac Protect Security Guarantee
Things you should know

 

Before making a decision about any of our products or services, please read all the terms and conditions. Fees and charges apply and may change. 

 

1. Introductory fixed interest: If you have not had a Westpac eSaver account before, an introductory fixed interest rate of 3.55% p.a. applies for the first 5 months, on top of the standard variable rate. After 5 months, the standard variable interest rate, currently 1.10% p.a. will apply. Existing or previous eSaver account holders are not eligible for this offer. Joint accounts are eligible where the primary account holder has not held an eSaver account before.   
 

2. No account-keeping fee on Westpac eSaver: To open a Westpac eSaver account, you must hold a Westpac everyday account. Fees and charges apply on a Westpac everyday account.

3. Online Banking 24/7 access is subject to system availability.
 

4.  New Arrivals Fixed Bonus Rate

  • Bonus offer available from 10/10/2023 for a limited time only for customers who are new to Australia (arrived in the last 12 months).​
  • Only available for new eSaver accounts opened by sole applicants who have never held an eSaver account before.​
  • Customers must hold a valid foreign issued identification document in our identification checklist (PDF 657KB) ​
  • If you are experiencing issues applying online, please contact a Westpac branch.​
  • Not available in conjunction with any other offer, unless we determine otherwise.​
  • We reserve the right to withdraw, amend or extend this offer at any time.
     
5. Debit Mastercard®: holders need to be at least 8 years of age and have an Australian residential address to be eligible for the card. 

Once you arrive in Australia you can request a Debit Mastercard®. Read the Terms and Conditions (PDF 205KB) and decide whether the product is right for you.
 

6. The Digital Card: The Digital Card is only available on the Westpac App and supported with the latest version of Westpac Mobile Banking. The terms and conditions applicable to your product also apply to the use of your digital card.  Online Banking Terms & Conditions also apply. You may not always be able to access your digital card.
 

7. Westpac transfer fees still apply for funds sent in Australian dollars. Receiving bank fees may also apply, check the currency converter for indicative rates and fees.