A little bit goes a long way
It’s easy to get your savings started. Here’s how:
Start with a transfer from another Westpac account
You can transfer money from another Westpac account in Online Banking or with our mobile banking app. You can also set up a regular deposit straight into your savings account, to make sure you don’t miss out on bonus interest^ each month.
Start with a transfer from another bank
You can deposit money directly into your Westpac Life savings account from another Australian bank. All you’ll need is your Westpac Life account name, BSB and account number.
Finding your account details
- You can find your account name in your Online Banking dashboard (this is the name you used to open your account)
- Your BSB is the first 6 numbers on your account tile
- Your account number is the remaining numbers in the tile.
Here's how to earn up to 3.00% p.a. on your savings*
Not sure if you can save right now? Spend more than 5 times a month and get 2.65% p.a. on your savings (up to $30,000). This includes a variable base rate of 0.20% p.a. and a Spend&Save of 2.45% p.a.
Stay on track with Savings Goals
- Set up to 6 Savings Goals
Saving for more than one thing? Set up to 6 different goals in just the one account. You can choose the savings amount, date and category across all your goals and adjust them at any time.
- Track your progress
You can keep tabs on your progress whenever you want in our mobile banking app. Just tap on each of your savings goals to see how you’re doing and how much you should be saving to reach your goal in time.
- Put your savings on autopilot
Whenever you transfer money into your savings, you can distribute your amount across your goals. You can also make it easy on yourself by setting up a regular deposit that will automatically split your funds across your goals.
Need some ideas? These are some popular goals as the moment...
Aiming for 8 weeks
Just in case
Aiming for 1 year
Aiming for 5 years
Save big with discounts and offers
We’ve partnered with a range of major stores and brands to give you access to savings in everyday shopping, entertainment, fashion, travel and more when you use your Westpac Debit Mastercard.
Select ‘Rewards and offers’ in the main menu of our app to check out the latest discounts and offers.
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Things you should know
Before making a decision about any of our products or services, please read all the terms and conditions and consider whether the product or service is right for you. Fees and charges apply and may change.
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