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Essentials

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

  • 0.01% p.a. standard base variable rate
  • 1.74% p.a. 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

Standard fees (fees may change) Amount
Monthly service fee $0
Branch staff assisted withdrawal $0
Fees for transactions by authorised signatories over 18  
Online Banking withdrawal $0
Telephone Banking withdrawal (automated and staff assisted) $0
eftpos  $0
Westpac, St.George, BankSA, Bank of Melbourne ATM withdrawal $0
Direct debit $0

More on standard bonus interest

For the under 12s, bonus interest is paid on the full balance of a Reward Saver account in a month where 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.

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.