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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 Life

A flexible savings account with bonus interest for regular savers that supports both long and short term savings goals.


Total variable rate 1.35% p.a. if bonus interest criteria are met 
Standard variable rate 0.65% p.a.  
Bonus variable rate

0.70% 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

Aged 18-29?

You could earn up to 2.75% 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