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Introductory bonus interest

1.55% p.a. for the first 5 months for new Westpac eSaver customers

  • 1.45% p.a. 5 month introductory fixed rate 1
  • 0.10% p.a. Standard variable rate

Why open an eSaver account?

  • Competitive interest rate on savings
  • No monthly service fee 2
  • Unlimited access via a linked Westpac Choice account
  • No minimum deposit or monthly balance
  • Safe Online Banking with our security guarantee 3
  • New Westpac eSaver customers receive an introductory fixed bonus rate on top of the standard variable rate for the first 5 months.

Who is this account for?

  • Regularly transfer money into and out of savings
  • Do most of the day-to-day banking online
  • Already have an eligible Westpac account 2  and are trying to save (if you don't have one, we'll open a Westpac Choice account for you).
Introductory special rate for the first 5 months  
Total introductory variable rate 1.55% p.a.
5 month introductory fixed rate 1.45% p.a.
Standard variable rate 0.10% p.a.

When does the introductory special rate apply?

An introductory fixed bonus rate of 1.45% 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 0.10% 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.

Standard fees (fees may change) Amount
Monthly service fee $0
Online Banking (including Mobile Banking) $0
Telephone Banking withdrawal (automated) $0
Telephone Banking withdrawal (non-automated) $5
Domestic ATM Transactions5 Nil
Point of Sale (POS) transactions - All transactions conducted at a POS terminal $5
Direct debit $5
Branch staff assisted withdrawal $5
Cheque withdrawal N/A
Dishonour of direct debit or cheques written $5
Account overdrawn fee $15
Periodical payment not made $5

Overseas ATM Transactions & Foreign Transaction Fees apply. Refer to Terms and Conditions for details.

There are no fees for Online Banking or Automated Telephone Banking transactions between your Westpac eSaver and Westpac accounts held in the same name. To access your money, we recommend you transfer funds to your Westpac transaction account and then make your withdrawal or payment.

Periodical payments , BPAY® and Pay Anyone cannot be made from eSaver.

Other fees and charges may apply. Please refer to the Terms and Conditions (PDF 1MB)

Things you should know

Deposit Accounts for Personal & SMSF customers - Terms and Conditions (PDF 1MB)

Online Banking Terms and Conditions (PDF 313KB)

Find out what information you need to provide to become a customer (PDF 768KB)

Westpac Debit Mastercard Terms and Conditions (PDF 3MB)


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. Bonus interest: If you have not had a Westpac eSaver account before, an introductory fixed bonus rate of 1.45% p.a. applies for the first 5 months, on top of the standard variable rate. After 5 months, the standard variable interest rate, currently 0.10% 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. Westpac everyday account: To open a Westpac eSaver account, you must hold a Westpac everyday account. Fees and charges apply on a Westpac everyday account.

3. Fraud guarantee: If your Westpac account is compromised as a result of Internet fraud we guarantee to refund any missing funds, providing you comply with our Online Banking Terms and Conditions (PDF 313KB).

4. Westpac Foreign Transaction Fee: a 3% Westpac Foreign Transaction Fee applies to overseas debit or credit card withdrawals. A 2% cash advance fee applies to credit card withdrawals where the "Credit" option is selected. A list of Global Alliance members is available. It is important to know that the functionality to withdraw money from a linked Westpac account via Credit Card is not available when using overseas ATMs, including Global Alliance ATMs. To ensure access to Savings and or Cheque account funds when overseas please speak to us about obtaining a Debit Mastercard®.

5. Non-Westpac Group branded ATMs: may apply an operator fee by the ATM owner for a balance enquiry or cash withdrawal made, which should be disclosed at the time of the transaction on the ATM screen. This fee is debited on the day (or next business day) of the transaction and is itemised separately on your statement.

6. Debit Mastercard holders need to be at least 14 years of age, and have an Australian residential address to be eligible for the card. If you're not eligible for a Debit Mastercard, apply for a Handycard to access your account. Refer to the Westpac Debit Mastercard® Terms and Conditions (PDF 3MB) for full details of when cardholders may be liable.


World Mastercard®, Mastercard® and the Mastercard brand mark are registered trademarks, and PayPass is a trademark of Mastercard International Incorporated.

BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.