Stay Ahead of the savings game

With your eSaver introductory rate expiring soon, now’s a great time to review your savings strategy.

Here’s how your interest rate will compare when your eSaver introductory rate expires

With a range of accounts available, you can stay in control of your savings.

1.10% p.a.

Variable base rate
Westpac eSaver

What your money will be earning with an eSaver standard variable interest rate.
 

 

Up to 5.00% p.a.

Total variable rate
Westpac Life

What your money could earn up to with a Westpac Life account (includes 2.00% p.a. variable base rate and a variable bonus rate of 3.00% p.a. when you grow your balance each month) and keep the account balance above $0.1

4.25% p.a.

Fixed rate for 12 months
Term Deposit

For balances between $1,000 and $250,000 with interest paid on maturity. As an existing Westpac customer, you may also be eligible for a bonus rate on top of our standard rates.

Want a flexible account that rewards you for saving? With a Westpac Life account, you can:

 

 

Set up personal savings targets

Use our Savings Goals feature to set up and track your own savings targets.2
 

Open now Find out more

 

 

Earn bonus interest as you save

Earn up to 5.00% p.a. variable interest on your savings each month you grow your balance and keep the account balance above $0.1

 

 

Keep your savings and spending separate

Jump on the app to see your transaction and savings accounts in one easy-to-view screen.

Prefer the certainty of a Term Deposit?

By opening a Term Deposit you can:

  • Pick the term that suits you and enjoy the security of a fixed interest rate.
  • Manage your account in Online Banking: no need to call or visit a branch.#
  • Choose to have your interest paid monthly, keeping your income regular.
  • Update your maturity or renewal instructions at any time without waiting until maturity.
     
Find out more
Things you should know
Deposit Accounts for Personal customers Terms and Conditions (PDF 1MB) 
Online Banking Terms and Conditions (PDF 417KB) 
Personal Telephone Banking Terms and Conditions (PDF 214KB)  
Term Deposits & Farm Management Deposits - Terms and Conditions (PDF 315KB)
Important Information Document (PDF 1MB)

 

Before making a decision about any of our products or services, please read all the terms and conditions. Fees and charges apply and may change. 
 
Westpac everyday account: To open a Westpac Life or Bump account, customers must hold a Westpac everyday account in the same name and be registered for Online and Phone Banking.  Fees and charges may apply on the everyday account.
 
1. Variable Bonus interest: Up to 5.00% p.a. calculated based on 2.00% p.a. standard variable base rate plus 3.00% p.a. variable bonus rate payable each month when you: make a deposit to the account: ensure the account balance is higher at the end than the beginning of the month, and keep the account balance above $0. For variable 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.
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 or Bump account.
Financial Claims Scheme: payments under the FCS are subject to a limit for each depositor. For more information visit  www.fcs.gov.au.
 
More on Term Deposits
# Westpac Online Banking will be available to update Term Deposits from 8:00am to 9.30pm on a Business Day and 8:00am to 4:00pm Saturdays (Sydney time)

Conditions, fees and charges apply. These may change or we may introduce new ones in the future. Full details are available on request. Lending criteria apply to approval of credit products. This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement, before deciding. 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.