
Savings accounts
For regular savers
Why open a Westpac Life savings account?
- Bonus interest every month you grow your savings even if you withdraw money1
- Bucket your money into different Savings Goals
- No monthly or online transfer fees2.
Open in less than 3 minutes
Get up to 3% p.a. variable interest on your savings

When you grow your savings with a Westpac Life account and make 5 eligible purchases with a debit card linked to your Choice account each month
For short term savers
Westpac eSaver can help you boost your savings with an introductory rate for the first 5 months.2
Why open a Westpac eSaver account?
- Bonus interest on your savings for the first 5 months3
- Bonus rate applies whether you've grown your savings or not
- No monthly or online transfer fees2.
Open in less than 3 minutes
For kids and teens
Bump Savings is an account designed to help children kickstart their savings. Available for under 18s.
Why open a Bump Savings account?
- Earn bonus interest every month you grow your savings, even if you withdraw money1
- Earn interest even if your savings don't grow
- Set up and track your progress toward different savings goals
- No account fees4.
Open an account

What’s the difference between a term deposit and a savings account?
A term deposit lets you lock your money away for a set length of time at a guaranteed interest rate, whereas a savings account gives you access to your money at any time but has an interest rate that can change.
More Options
Interest rates
Tools and calculators
Things you should know
4. Westpac everyday account: To open a Westpac Bump Savings account, customers must hold a Westpac everyday account, which can be in the name of the child or a parent signatory. Fees and charges may apply on the everyday account.