You could earn better interest by opening a Westpac Life account
Earn up to 0.40% p.a. variable interest rate
Standard variable base rate
Variable bonus rate each month you grow your balance1
Why open a Westpac Life account?
Set up and track your personalised savings goals3 via Online Banking
Competitive base rate
Enjoy a competitive base rate on your savings
Ongoing bonus interest
You could earn bonus interest each month you grow your balance1
How Savings Goals work
Savings Goals3 is a handy feature of Westpac Life that lets you set up and track personalised savings goals via Online Banking.
With Savings Goals you can keep tabs on your progress and the savings calculations will show you how much to contribute regularly to help you stay on track.
1. Setting up your savings goals
Set up to 6 different goals in the one account! You can change the savings amount, date and category across all of your goals and adjust them at any time.
2. Adding to your savings goals
Each time you transfer money into your savings, you can distribute your amount across goals. Make it easier by setting up recurring transfers so the money automatically splits after pay day.
3. Tracking your progress
Tap on each of your savings goals to see how you're doing and how much you should be saving to make it in time.
Who is this account for?
Westpac Life is great if you want to:
- Save for different goals without the hassle of managing multiple accounts
- Earn a competitive interest rate even when you don't grow your balance
- Do most of your day-to-day banking online
|Standard fees (fees may change)||Amount|
|Monthly service fee||$0|
|Online Banking withdrawal (including Mobile Banking)||$0|
|Telephone Banking withdrawal (self service)||$0|
|Telephone Banking withdrawal (staff assisted)||$2.50|
|Branch staff assisted withdrawal||$2.50|
|Account overdrawn fee||N/A|
|Outward dishonour fee||N/A|
There are no fees for Online Banking or Automated Telephone Banking transfers from a Westpac Life account to a Westpac everyday account held in the name of the account holder or authorised user who is requesting the transfer. To access your money, we recommend you transfer funds to your Westpac everyday account and then make your withdrawal or payment.
Direct debits, periodical payments, BPAY®, Pay Anyone, cheque withdrawals and ATM transactions are not available from a Westpac Life account.
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.