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1.75% p.a. variable interest when variable bonus interest applies, paid monthly

  • 0.01% p.a. standard base variable rate
  • 1.74% variable bonus interest monthly when a deposit of any amount and no withdrawals are made each month
  • Free withdrawals (when a withdrawal is made the variable bonus rate won't apply)
  • Anyone can deposit money into the account at a Westpac branch or through Online Banking (by providing the BSB and account number)
  • Access your money at any Westpac branch
  • Can be opened for a child as a trust account

More on bonus interest

Variable bonus interest is paid on the full balance of a Reward Saver account in a month when bonus interest criteria are met:

  • A credit balance is maintained
  • A deposit of any amount is made
  • No withdrawals are made (except withdrawal of funds to place in a Westpac Term Deposit)

The balance in a Reward Saver account on and after the last business day of the month, including deposits made to the account on or after the last business day of the month, aren’t included in the interest calculation for that month. It’s included in the interest calculation for the following month.

Earn bonus interest each month you deposit and don't withdraw

$0 Monthly service fee. Other fees may apply


How can you access your money?

There are multiple ways to access your money, including:

  • Online Banking
  • Telephone Banking
  • BPAY®
  • Branch

When your Youth Reward Saver account is open

  • Register for Westpac Online Banking and/or Telephone Banking for more ways to manage your savings
  • Choose eStatements for convenient online access to 7 years of account activity
Standard fees (fees may change) Amount
Monthly service fee $0
Online Banking withdrawal $0
Telephone Banking withdrawal (automated and staff assisted) $0
Direct debit $0
Branch staff assisted withdrawal $0
Additional fees
Dishonour of direct debits $5
Periodical payment not made fee $5
Account overdrawn fee $15
Things you should know

Deposit Accounts for Personal & SMSF customers - Terms and Conditions (PDF 993KB)

Find out what information you need to provide to become a customer (PDF 768KB)

Read the terms and conditions which apply to Online Banking (PDF 237KB) and for Reward Saver before making a decision and consider whether the products are appropriate for you.

Fees and charges apply.

World Mastercard®, Mastercard® and the Mastercard brand mark are registered trademarks, and PayPass is a trademark of Mastercard International Incorporated.

BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.