Westpac Life

Westpac Life is a flexible savings account that supports your savings goals. You could earn bonus interest each month your balance grows.
Category: Transaction & Savings Accounts  Last Updated May 29, 2026  Effective June 3, 2026

 General Lending Rates

Rates listed below are for a product. Additional Information
Interest Rate
NA PA
Comparison Rate
NAPA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.

 Product Features

  • Cashback Offer Additional Information: Double your $50 when you bank and save with Westpac. Open a new Choice everyday account and an eligible savings account together and here?s how you can get $50: Deposit $50 or more into your new Choice everyday account within 10 days. We?ll add $50 to your savings account once you meet the criteria. T&Cs apply.
  • Other Additional Information: Team up your everyday banking with a Life savings account
  • Unlimited Txns Additional Information: Unlimited and instant access to your money online through your Westpac everyday account
  • Other Additional Information: Set Savings Goals - Track how much you should save to reach your goal.
  • Digital Banking Additional Information: Online , Mobile and telephone banking is available
  • Other Additional Information: Statements : 6 monthly, or more frequently on request.
  • Other Additional Information: Bucket your savings - In up to 6 different Savings Goals with just one account.
  • Other Additional Information: Bonus interest - You could boost savings each month you grow your balance.
  • Other Additional Information: Separate savings - Check savings and spending in one view with the Westpac App.
  • Fraud Protection Additional Information: The product includes FRAUD_PROTECTION features.
  • Relationship Management Additional Information: RELATIONSHIP_MANAGEMENT is available for eligible customers.
  • Other Additional Information: No minimum opening balance for this account
  • Fraud Protection Additional Information: Secure your account with SafeBlock - Find out how SafeBlock can help keep you safe when you need it most by locking your cards and account. Explore more security features: Digital Card with Dynamic CVC, Westpac ProtectTM Security Code, Westpac Safecall, Westpac Verify
  • Other Additional Information: Invite others to join your goal - Share your goal with another Westpac customer. Or invite anyone to contribute by sending money to your account.
  • Other Additional Information: Put savings on autopilot: Set up recurring transfers from your transaction account on paydays to automatically split your savings across your goals.
  • Other Additional Information: Set up to 6 Savings Goals: Change the savings amount, date, and category across all your goals. Adjust them at any time in the Westpac App.
  • Other Additional Information: Account can be opened via Online, mobile, in branch and telephone.

 Product Eligibility

  • Min Age - 18.
  • Residency Status - Those With An Australian Residential Address And Who Are Currently In Australia..

 Bank Fees and Charges

  • Account Keeping Fee (Periodic), Amount: 0.00.
  • Online Banking (including Mobile Banking) (Withdrawal), Amount: 0.00. Additional Information: Online transfer withdrawals via Online Banking.
  • Telephone Banking Withdrawal (self Service) (Withdrawal), Amount: 0.00.
  • Telephone Banking Withdrawal (staff Assisted) (Withdrawal), Amount: 0.00.
  • Branch Staff Assisted Withdrawal (Withdrawal), Amount: 0.00.

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