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Westpac eSaver

Introductory special rate for the first 5 months  
Total introductory variable rate 2.71% p.a.
5 month introductory fixed rate 1.46% p.a.
Standard variable rate 1.25% p.a.

When does the introductory special rate apply?

An introductory fixed bonus rate of 1.46% p.a. applies for the first 5 months, on top of the standard variable rate when you are a new Westpac eSaver customer:

After 5 months the standard variable rate, currently 1.25% p.a. will apply to your eSaver account.

When is interest paid to my eSaver account?

Interest is paid on the last business day of each calendar month.

Balances in your account on or after the last business day won't be included in the interest calculation for that month but will be included in the interest calculation for the following month. Balances include deposits made to your account.


Westpac Reward Saver

Total variable interest rate Up to 1.85% p.a.
Standard variable base rate (when no standard variable bonus rate applies) 0.01% p.a.
Standard variable bonus rate (each month when you deposit $50 and make no withdrawals or, if you’re under 21, when you deposit any amount and make no withdrawals)1 1.84% p.a.

When is interest paid to my Reward Saver account?

Interest is paid on the last business day of each calendar month. Balances in your account on and after the last business day won't be included in the interest calculation for that month but will be included in the interest calculation for the following month. Balances include deposits made to your account.

 

Westpac Reward Saver - under 12

Amount Rate p.a.
Standard variable base rate 0.01%
Standard variable bonus rate (when bonus conditions are met) 1.84%
Earn up to (variable)  1.85%

More on standard bonus interest

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

 

Westpac Reward Saver - 12 to 21

Amount Rate p.a.
Standard variable base rate 0.01%
Standard variable bonus rate (when bonus conditions are met) 1.84%
Earn up to (variable) 1.85%

More on bonus interest

For the 12 to 21s, variable bonus interest is payable 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 of 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.


Term Deposits

Our current term deposit rates are shown below. Interest rates are % per annum. All investment balance ranges are in Australian dollars.

Interest paid at maturity or annually
Term $5,000 <$10,000 $10,000 <$20,000 $20,000 <$50,000 $50,000 <$100,000 $100,000 <$250,000
1 < 2 months 1.5% 1.5% 1.5% 1.5% 1.5%
2 < 3 months 1.75% 1.75% 1.75% 1.75% 1.75%
3 < 4 months 2.1% 2.1% 2.1% 2.1% 2.1%
4 < 5 months 2% 2% 2% 2% 2%
5 < 6 months 2% 2% 2% 2% 2%
6 < 7 months 2.2% 2.2% 2.2% 2.2% 2.2%
7 < 8 months 2% 2% 2% 2% 2%
8 < 9 months 2% 2% 2% 2% 2%
9 < 10 months 2% 2% 2% 2% 2%
10 < 11 months 2% 2% 2% 2% 2%
11 < 12 months 2% 2% 2% 2% 2%
12 < 24 months 2.5% 2.5% 2.5% 2.5% 2.5%
24 < 36 months 3% 3% 3% 3% 3%
36 < 48 months 3.1% 3.1% 3.1% 3.1% 3.1%
48 < 60 months 2.7% 2.7% 2.7% 2.7% 2.7%
60  months 2.85% 2.85% 2.85% 2.85% 2.85%

Special rates are highlighted in red.

Interest rates are % per annum. All investment balance ranges are in Australian dollars.

Interest paid monthly
Term $5,000 <$10,000 $10,000 <$20,000 $20,000 <$50,000 $50,000 <$100,000 $100,000 <$250,000
1  < 2 months 1.45% 1.45% 1.45% 1.45% 1.45%
2 < 3 months 1.7% 1.7% 1.7% 1.7% 1.7%
3 < 4 months 2.05% 2.05% 2.05% 2.05% 2.05%
4 < 5 months 1.95% 1.95% 1.95% 1.95% 1.95%
5 < 6 months 1.95% 1.95% 1.95% 1.95% 1.95%
6 < 7 months 2.15% 2.15% 2.15% 2.15% 2.15%
7 < 8 months 1.95% 1.95% 1.95% 1.95% 1.95%
8 < 9 months 1.95% 1.95% 1.95% 1.95% 1.95%
9 < 10 months 1.95% 1.95% 1.95% 1.95% 1.95%
10 < 11 months 1.95% 1.95% 1.95% 1.95% 1.95%
11 < 12 months 1.95% 1.95% 1.95% 1.95% 1.95%
12 < 24 months 2.45% 2.45% 2.45% 2.45% 2.45%
24 < 36 months 2.95% 2.95% 2.95% 2.95% 2.95%
36 < 48 months 3.05% 3.05% 3.05% 3.05% 3.05%
48 < 60 months 2.65% 2.65% 2.65% 2.65% 2.65%
60 months 2.8% 2.8% 2.8% 2.8% 2.8%

More on interest rates

  • Interest rates are current as at 30/11/2016
  • Rates are subject to change
  • Special rates are not available in conjunction with any bonus interest or other special rates offered by Westpac
  • If you're on a special or standard rate and your term deposit rolls over automatically, the term deposit may be automatically re-invested at a lower rate than the current interest rate

Special term deposits

Call us on 1300 362 742 or visit a Westpac branch if you:

  • To invest amounts over $250,000
  • If you want to open a term deposit for less than 30 days

Your interest options

  • Interest paid at maturity is available for terms of 12 months or less
  • Interest paid monthly is available for terms of 1 to 60 months (inclusive)
  • Interest paid annually is available for terms of greater than 12 months. For terms not equalling an exact year, the remaining interest is paid at the end of the term

Information is current as at 30/11/2016

More on term deposits

Rates set out above exclude corporate, institutional and government customers. Minimum balance of $5,000, maximum balance of $10,000,000.


Westpac Choice

There is no interest for this account.

View Westpac Choice essentials.

Westpac Choice - under 21s

There is no interest for this account.

Westpac Choice - full-time tertiary students

There is no interest for this account.

Westpac Choice - concession holders

There is no interest for this account.

Westpac 55+ and Retired account

Interest rates p.a.

Interest is calculated daily on your account balance.

Amount Rate
0 < $2,000 0.25%
$2,000 < $41,000 1.00%
$41,000+ 2.00%