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Savings account interest rates

At a glance you can compare savings account rates to work out what best suits your needs. An online savings account usually offers a higher interest rate; while those with a specific goal might prefer a savings account that rewards regular savers with bonus interest.

Westpac eSaver

A savings account that offers a great interest rate with access to funds through a linked account via Online Banking and Telephone Banking.


Total variable rate 2.51% p.a. for the first 5 months (new eSaver customers only)
Standard variable rate 0.80% p.a.
Special offer rate Total variable rate includes fixed introductory bonus of 1.71% p.a. for first 5 months for new eSaver customers
Bonus variable rate N/A
Fixed rate N/A

Bump Savings - for under 18s

A regular savings account designed for children to  support their long-term savings needs


Total variable rate 2.30% p.a. if bonus interest criteria are met
Standard variable rate 1.50% p.a.
Special offer rate N/A
Bonus variable rate

0.80% p.a.

Bonus interest is payable each month that you:

  • Make a deposit to the account;
  • Ensure your account balance is higher at the end of the month than the beginning; and
  • Keep your account balance above $0 at all times.

For bonus interest qualification, a month is the period from close of business on the last business day of the previous month to close of business on the last business day of the current month

Fixed rate N/A

Term Deposits

A term deposit let's you invest your money with the certainty of a fixed interest rate and a choice of terms.


Total variable rate See rates
Standard variable rate N/A 
Special offer rate N/A
Bonus variable rate N/A
Fixed rate 12 < 24 months  $5000 < $250000  2.30%
24 < 36 months  $5000 < $250000  2.40%
36 months  $5000 < $250000  2.50%
Things you should know

Conditions, fees and charges apply.