
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
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 kick-start 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
Aged 18-29?
You could earn up to 2% p.a. variable interest on your first $30,000 savings with a Life Savings and Choice bank 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
* 2% p.a. variable interest: earn up to 2% p.a. variable interest when you meet the criteria for both Westpac Life variable interest and Spend&Save Bonus variable interest. For bonus interest qualification, a month is the period from close of business on the last business day of the prior month to close of business on the last business day of the current month.
Available to individuals aged 18-29 on new and existing sets of Westpac Life and Choice accounts from 1st July 2020 and may be varied or withdrawn at any time in accordance with the deposit account terms and conditions. Westpac Choice and Westpac Life sole or joint accounts must be opened in the same customer name(s). Eligible on a maximum of 3 sets of Choice and Westpac Life sole and/or joint accounts.
Westpac Deposit Accounts for personal and self-managed superannuation fund customers Terms and Conditions apply. (PDF 805KB)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.