Get your savings on track

Need some help getting a savings plan together so you can reach your savings goals? We’ve got the tips and tools to get you on track.

We’re here to help you reach your savings goals

  • Westpac’s financial education specialists, Davidson Institute, offer a range of resources and tools to help you build your financial confidence.
  • With a Westpac Life savings account, you can use the Savings Goals2 feature to bucket your savings into different goals with just the one account.
  • Get the flexibility to make withdrawals when you need to and still be rewarded with bonus interest1
  • 18-29? Earn a super-strong 5.2% p.a. variable interest on your savings* when you combine your saving and spending with a Westpac Choice everyday account and a Westpac Life savings account.

9 tips for building positive financial habits

Find out how you can build good money habits that can help you get ahead financially.

5 ways to making the most out of tax time

Get the lowdown on what you can claim including how much you can claim for working from home and how you can navigate this year’s tax time with confidence.

How to boost your savings

See how Katya sped up her Europe savings with a strong interest rate and good money management skills.

Get started with Savings Goals

Set up your Savings Goals when you open a Westpac Life account

Open now

Set up a new Savings Goal

Already have a Westpac Life account? It only takes a few moments to set up a new goal.

Get started
Things you should know
Deposit Accounts for Personal customers Terms and Conditions (PDF 621KB)  
Online Banking Terms and Conditions (PDF 417KB) 
Personal Telephone Banking Terms and Conditions (PDF 214KB)
 
Before making a decision about any of our products or services, please read all the terms and conditions and consider whether the product or service is right for you. Fees and charges apply and may change.

 

* Total variable interest: total variable interest consists of two parts: Westpac Life variable interest and Spend&Save bonus variable interest. To earn the total variable interest, you must meet the criteria for both parts.


1. Westpac Life variable interest: includes a standard variable base rate plus a variable bonus rate. To earn the variable bonus interest you must make a deposit to your Westpac Life account, ensure the account balance is higher at the end than the beginning of the month and keep the account balance above $0. Interest is calculated on the daily balance of your Westpac Life account and paid on the last business day of the month.  

2. Savings Goals: Both an account holder and an authorised user can use the Savings Goals feature, including to view, add, edit and delete the savings goals on a Westpac Life account.
 

Spend&Save bonus variable interest:
  • You must be aged 18-29 with a Westpac Life and a Westpac Choice account – both in the same name. Joint accounts are not eligible.
  • If you have multiple Westpac Life or Choice accounts, only the earliest opened account is eligible.
  • You must make 5 eligible purchases with the debit card linked to your Westpac Choice account and have these settled (not pending) within a calendar month. The following transactions are ineligible: ATM transactions, PayID, BPAY, EFTPOS cash-out only transactions, direct debits and paying off a credit card account.
  • For bonus interest qualification, a month is the period from close of business on the last business day of the prior month to close of business on the last business day of the current month. Bonus interest is calculated on the daily balance of your eligible Westpac Life account up to $30,000, and paid to your eligible Westpac Life account by the 20th day of the following month.
  • If your eligible Westpac Life account is closed before 21st day of the following month, the bonus interest will not be paid.
  • Only one Spend&Save bonus interest offer per customer.
  • Offer may be varied or withdrawn at any time in accordance with the Deposit accounts for Personal customers Terms and Conditions. (PDF 621KB)