Skip to main content Skip to main navigation
Skip to access and inclusion page Skip to search input

Savings account interest rates

At a glance, compare variable and fixed interest rates to help you decide what type of savings account works best for your needs.

Westpac Life savings account

A flexible savings account with bonus interest for regular savers, supporting both long- and short-term savings goals.


Total variable rate 5.00% p.a. if bonus interest criteria are met 
Standard variable rate 2.00% p.a.  
Bonus variable rate

3.00% 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 rate 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.

These savings accounts need to be linked to an eligible transaction account.

Aged 18-29?

You could earn up to 5.20% p.a. variable interest on your first $30,000 savings with a Life Savings and Choice bank account.

Find out more

Things you should know

Conditions, fees and charges apply and may change. Unless otherwise specified, the products and services described on this website are available only in Australia from Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714