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Westpac Life
Westpac Life
Westpac Life could help you reach your savings goals sooner by earning bonus interest every month you save.
  • Earn up to 0.30% variable interest, including a 0.15% standard variable base rate on all your savings plus 0.15% variable bonus rate each month you grow your balance.~
  • $0 Account-keeping fee
  • 18+ Minimum age to open account
  • Split your savings into up to 6 different savings goals

  • Boost your savings with bonus interest each month you grow your balance

  • Unlimited access via a Westpac Choice account (if you don't have one, we'll open one for you) 2
  • Registered for Online Banking & Phone Banking

    Special offer
 

Get up to 2.5% p.a. variable interest on your savings

For 18-29 year olds

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

This is made up of 0.15% p.a. variable base rate + 0.15% p.a. variable bonus for saving each month + 2.20% p.a. Spend&Save bonus for spending 5 times. Applies to the first $30,000 in your Westpac Life savings account. After this amount you’ll earn 0.30% p.a. variable interest. *
Westpac Choice
Westpac Choice
An everyday account to make deposits and withdrawals with access via a debit card
  • $5 Account-keeping fee, unless you're under 21, a fulltime tertiary student, new to Australia (for the first 12 months) or deposit at least $2,000 each month

  • 12+ Minimum age to open account
  • Access to your money with a Debit Mastercard®¹ and a range of digital wallets (including Apple Pay & Google Pay)

  • Access to exclusive offers and discounts

  • 24/7 Fraud monitoring

  • Fraud Money Back Guarantee 4
Things you should know
1 Debit Mastercard: You 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.
2 Westpac everyday account: To open a Westpac savings account, customers must hold a Westpac everyday account in the same name and be registered for Online and Phone Banking. Fees and charges may apply on the everyday account.
4  Westpac Fraud Money Back Guarantee: Customers will be reimbursed for any unauthorised transactions provided that the customer has not contributed to the loss and contacted Westpac promptly.
* 2.5% p.a. variable interest: earn up to 2.5% 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.
~ Payable each month that you; make a deposit to the account, ensure the account balance is higher at the end than the beginning of the month, and keep the account balance above $0. 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.