Interest rates

A summary of our current rates as at 24 April 2014. All rates are subject to change without notice.

Transaction accounts

Note: The Electronic Account, Access Account, and Easy Access Account don't pay interest.

Earner Account - Interest rates
A transaction account that actually pays you interest once you have an average monthly balance of $5,000. The Earner Account pays more interest the more money you have in your account. Interest is calculated daily on your credit balance, at the appropriate interest rate for that tier. You will see the interest paid into your account at the end of each calendar month.
Tier Rate
Less than $4,999
0.00% p.a.
$5,000 < $19,999 0.75% p.a.
$20,000 < $49,999 0.75% p.a.
$50,000 < $99,999 1.75% p.a.
$100,000 and over 2.50% p.a.

Savings & Cash PIE accounts

 

Online Saver - Interest rates
Interest is calculated daily on the full credit balance, and the same rate applies to all balances. Interest is paid (less resident withholding tax) into your Online Saver account on the last business day each month.
Tier Rate
All balances 2.75% p.a.

To operate the Online Saver account, you must hold a Westpac transaction account. Any transfers from your Online Saver Account can only be made directly to your transaction account. ATM access is for balance enquiry, funds transfers and deposits only – no cash withdrawals can be made.

 

Online Bonus Saver - Interest rates
The Online Bonus Saver (an on call savings account) works by topping up the base interest rate with bonus interest if you make one deposit (of any amount) every month, and no withdrawals or transfers that month.

Interest is calculated daily on the full credit balance and paid (less resident withholding tax) into your Online Bonus Saver account on the last business day each month.
TierBaseBonusPotential
All balances 0.10% p.a. 3.90% p.a. if you have made one deposit and no withdrawals in the previous calendar month 4.00% p.a. if you have made one deposit and no withdrawals in the previous calendar month

To operate the Online Bonus Saver account, you must hold a Westpac transaction account. Any transfers from your Online Bonus Saver account can only be made directly to your transaction account. ATM access is for balance enquiry, funds transfers and deposits only – no cash withdrawals can be made.

 

Online Saver PIE - Rates of return
Your returns are calculated on the daily balance of your account. Returns are paid into your account (less PIE tax) on the last business day of each month.
If your account balance is below the minimum investment of $500, you will not receive any returns.
If your account balance is below $500 for 30 days or more, we will notify you in writing. You can set up a txt and/or email alert to notify you when your account balance falls below $500.
TierRate of ReturnEffective Return *
Balances $500 and above 3.00% p.a.  If your Income Tax Rate is 30% ** If your Income Tax Rate is 33% ***
 3.09% p.a.  3.22% p.a.

* The Effective Return is the rate you would need to receive from a regular savings account in order to achieve the same after tax return from your Cash PIE account, based on a PIR of 28% and an income tax rate of either 30% or 33%.
** Individuals with taxable income of $48,001 to $70,000.
*** Individuals with taxable income of $70,001 and over.


To make withdrawals from your Online Saver PIE account, you must hold a Westpac transaction account. ATM access is for balance enquires, fund transfers and for deposits (if deposit facilities exist). No cash withdrawals from ATMs can be made.

 

Online Bonus Saver PIE - Rates of return
Your returns are calculated on the daily balance of your account. Returns are paid into your account (less PIE tax) on the last business day of each month.
If your account balance is below the minimum investment of $500, you will not receive any returns.
If your account balance is below $500 for 30 days or more, we will notify you in writing. You can set up a txt and/or email alert to notify you when your account balance falls below $500.
If you make a withdrawal from your Online Bonus Saver PIE account to invest in a Westpac NZ term investment, you will still qualify for the bonus rate of return.
TierBase Rate of ReturnBonus Rate of ReturnPotential Rate of ReturnEffective Return *
Balances $500 and over 0.10% p.a. 3.90% p.a. if you have made one deposit and no withdrawals in the previous calendar month 4.00% p.a. if you have made one deposit and no withdrawals in the previous calendar month  If your Income Tax Rate is 30% ** If your Income Tax Rate is 33% ***
4.11% p.a. 4.30% p.a.

* The Effective Return is the rate you would need to receive from a regular savings account in order to achieve the same after tax return from your Cash PIE account, based on a PIR of 28% and an income tax rate of either 30% or 33%.
** Individuals with taxable income of $48,001 to $70,000.
*** Individuals with taxable income of $70,001 and over.


To make withdrawals from your Online Bonus Saver PIE account, you must hold a Westpac transaction account. ATM access is for balance enquires, fund transfers and for deposits (if deposit facilities exist). No cash withdrawals from ATMs can be made.

 

Simple Saver - Interest rates
Interest is calculated daily, and the same rate applies to all balances.
Tier Rate
All balances 2.00% p.a.

 

Save & Win - Interest rates
Interest is calculated daily, and the same rate applies to all balances.
Tier Rate
All balances 0.25% p.a.

Each Save & Win prize draw is subject to the prize draw eligibility criteria and terms and conditions.

 

Bonus Saver - Interest rates
Tier Base Bonus* Potential
Less than $10,000
0.25% p.a.
0.75% p.a.
1.00% p.a.
$10,000 and over 0.25% p.a. 0.75% p.a. 1.00% p.a.
*Note: When you make at least one deposit and no withdrawals in a month.

 

Cash Management - Interest rates
The Cash Management Account is no longer available to new personal account holders.
Tier Rate
Balance less than $20,000
0.00%
Balance between $20,000 and $49,999 0.25%
Balance between $50,000 and $99,999 0.25%
Balance between $100,000 and over 0.25%

You can get a copy of the current disclosure statement for Westpac New Zealand Limited and a copy of the investment statement for any securities for which an investment statement is required from any Westpac branch in New Zealand free of charge. Interest rates quoted are subject to change. The above rates are not available to financial institutions. Full details of the terms and conditions are available from any Westpac branch in New Zealand. Interest is calculated on your daily balance, and is paid (less withholding tax) into your account on the last business day of each month.

Term deposit

Rates for amounts of $250,000 or more are available on request. 

For important information about term deposits please download the Term Deposit Investment Statement.(65Kb PDF )

 

Term Deposit - Interest paid at maturity
For terms less than 12 months, interest is paid in full at the end of the term (unless the interest rate relates to a monthly income option or SuperGold card rate). You can also elect to have interest paid at maturity for terms 12 months or longer.
Term$5,000-$9,999$10,000-$49,999$50,000-$99,999$100,000-$249,999
30 - 59 days 1.85% p.a. 2.85% p.a. 2.85% p.a. 2.85% p.a.
60 - 89 days 2.60% p.a. 2.85% p.a. 2.85% p.a. 2.85% p.a.
90 - 119 days 2.75% p.a. 3.25% p.a. 3.25% p.a. 3.25% p.a.
120 - 149 days 3.00% p.a. 4.00% p.a.*special rate  4.00% p.a.*special rate  4.00% p.a.*special rate 
150 - 179 days 3.00% p.a. 3.25% p.a. 3.25% p.a. 3.25% p.a.
180 - 269 days 3.00% p.a. 3.75% p.a. 3.75% p.a. 3.75% p.a.
270 days < 12 months 3.00% p.a. 3.80% p.a. 3.80% p.a. 3.80% p.a.
12 months < 18 months 3.75% p.a. 4.00% p.a. 4.00% p.a. 4.00% p.a.
18 months < 2 years 3.85% p.a. 4.30% p.a. 4.30% p.a. 4.30% p.a.
2 years < 3 years 3.90% p.a. 4.75% p.a. 4.75% p.a. 4.75% p.a.
3 years < 4 years 4.10% p.a. 5.00% p.a. 5.00% p.a. 5.00% p.a.
4 years < 5 years 4.15% p.a. 5.25% p.a. 5.25% p.a. 5.25% p.a.
5 years 4.20% p.a. 5.50% p.a. 5.50% p.a. 5.50% p.a.

 

Term Deposit - Monthly income
For terms of six months or longer you can choose to have interest paid monthly into your nominated bank account. This regular income stream can be ideal if you need to supplement other income such as NZ Superannuation.
Term$5,000-$9,999$10,000-$49,999$50,000-$99,999$100,000-$249,999
180 - 269 days 3.00% p.a. 3.75% p.a. 3.75% p.a. 3.75% p.a.
270 days < 12 months 3.00% p.a. 3.80% p.a. 3.80% p.a. 3.80% p.a.
12 months < 18 months 3.75% p.a. 3.95% p.a. 3.95% p.a. 3.95% p.a.
18 months < 2 years 3.85% p.a. 4.20% p.a. 4.20% p.a. 4.20% p.a.
2 years < 3 years 3.90% p.a. 4.55% p.a. 4.55% p.a. 4.55% p.a.
3 years < 4 years 4.05% p.a. 4.80% p.a. 4.80% p.a. 4.80% p.a.
4 years < 5 years 4.10% p.a. 5.05% p.a. 5.05% p.a. 5.05% p.a.
5 years 4.15% p.a. 5.30% p.a. 5.30% p.a. 5.30% p.a.

 

Term Deposit - SuperGold (monthly income)^
^Special rates available to SuperGold cardholders. For terms 6 months and over. Interest is paid monthly into your nominated bank account.
TermRateMinimum investment
180 days 3.75% p.a. Interest paid monthly $5,000
12 months 3.95% p.a. Interest paid monthly $5,000
2 years 4.55% p.a. Interest paid monthly $5,000

 

Term Deposit - Compounding interest & regular interest
For terms 12 months or longer, you can choose to have interest paid every three (quarterly), six or 12 months. The default payment frequency is quarterly. Interest can be compounded (added automatically to your original investment) which allows you to earn ‘interest on your interest’, meaning your investment grows at a faster rate than if interest were paid out during the course of the investment or paid in full at maturity. Alternatively, you can choose to have interest paid separately into any New Zealand bank account which allows you to receive a periodic income stream that is less frequent than our monthly income option.
Term$5,000-$9,999$10,000-$49,999$50,000-$99,999$100,000-$249,999
12 months < 18 months 3.75% p.a. 3.95% p.a. 3.95% p.a. 3.95% p.a.
18 months < 2 years 3.85% p.a. 4.20% p.a. 4.20% p.a. 4.20% p.a.
2 years < 3 years 3.90% p.a. 4.55% p.a. 4.55% p.a. 4.55% p.a.
3 years < 4 years 4.10% p.a. 4.80% p.a. 4.80% p.a. 4.80% p.a.
4 years < 5 years 4.15% p.a. 5.05% p.a. 5.05% p.a. 5.05% p.a.
5 years 4.20% p.a. 5.30% p.a. 5.30% p.a. 5.30% p.a.

You can get a copy of current disclosure statement for Westpac New Zealand Limited and a copy of the investment statement for any securities for which an investment statement is required from any Westpac branch in New Zealand free of charge. Interest rates quoted are subject to change. The above rates are not available to financial institutions. Full details of the terms and conditions are available from any Westpac branch in New Zealand.

Term PIE Fund

Rates of return for amounts of $250,000 or more are available on request.

For important information about the Term PIE Fund download the Westpac Term PIE Fund Investment Statement.

 

Westpac Term PIE Fund - Special rates of return
(minimum investment $10,000)
TermRate of returnPayableEffective return^ based on a PIR of 28% and an income tax rate of:
30% ^^33% ^^^ (incl.Trusts)
4 months (120 - 149 days) 4.00% p.a. Maturity only 4.11% p.a. 4.30% p.a.
^ The effective return incorporates the tax benefits of a Term PIE so you can compare this with the interest rate on a standard deposit.  The effective return is the rate you'd need to recieve from a regualr term deposit to match the returns from this Term PIE (after tax is paid). This is based on a PIR (Prescribed Investor Rate) of 28% and an income tax rate of 30 or 33%. 
^^ i.e. individuals with taxable income of $48,001 to $70,000
^^^ i.e. individuals with taxable income of $70,001 and over

 

Westpac Term PIE Fund - Returns paid at maturity
For terms less than 12 months, returns are paid in full at the end of the term (unless the rate of return relates to a monthly income option). You can also elect to have returns paid at maturity for terms 12 months or longer.
Term$5,000-$9,999$10,000-$49,999$50,000-$99,999$100,000-$249,999
30 - 59 days 1.85% p.a. 2.85% p.a. 2.85% p.a. 2.85% p.a.
60 - 89 days 2.60% p.a. 2.85% p.a. 2.85% p.a. 2.85% p.a.
90 - 119 days 2.75% p.a. 3.25% p.a. 3.25% p.a. 3.25% p.a.
120 - 149 days 3.00% p.a. 4.00% p.a.*special rate  4.00% p.a.*special rate  4.00% p.a.*special rate 
150 - 179 days 3.00% p.a. 3.25% p.a. 3.25% p.a. 3.25% p.a.
180 - 269 days 3.00% p.a. 3.75% p.a. 3.75% p.a. 3.75% p.a.
270 days < 12 months 3.00% p.a. 3.80% p.a. 3.80% p.a. 3.80% p.a.
12 months < 18 months 3.75% p.a. 4.00% p.a. 4.00% p.a. 4.00% p.a.
18 months < 2 years 3.85% p.a. 4.30% p.a. 4.30% p.a. 4.30% p.a.
2 years < 3 years 3.90% p.a. 4.75% p.a. 4.75% p.a. 4.75% p.a.
3 years < 4 years 4.10% p.a. 5.00% p.a. 5.00% p.a. 5.00% p.a.
4 years < 5 years 4.15% p.a. 5.25% p.a. 5.25% p.a. 5.25% p.a.
5 years 4.20% p.a. 5.50% p.a. 5.50% p.a. 5.50% p.a.

 

Westpac Term PIE Fund - Monthly returns
For terms of six months or longer you can choose to have returns paid monthly into your nominated bank account. This regular income stream can be ideal if you need to supplement other income such as NZ Superannuation.
Term$5,000-$9,999$10,000-$49,999$50,000-$99,999$100,000-$249,999
180 - 269 days 3.00% p.a. 3.75% p.a. 3.75% p.a. 3.75% p.a.
270 days < 12 months 3.00% p.a. 3.80% p.a. 3.80% p.a. 3.80% p.a.
12 months < 18 months 3.75% p.a. 3.95% p.a. 3.95% p.a. 3.95% p.a.
18 months < 2 years 3.85% p.a. 4.20% p.a. 4.20% p.a. 4.20% p.a.
2 years < 3 years 3.90% p.a. 4.55% p.a. 4.55% p.a. 4.55% p.a.
3 years < 4 years 4.05% p.a. 4.80% p.a. 4.80% p.a. 4.80% p.a.
4 years < 5 years 4.10% p.a. 5.05% p.a. 5.05% p.a. 5.05% p.a.
5 years 4.15% p.a. 5.30% p.a. 5.30% p.a. 5.30% p.a.

 

Westpac Term PIE Fund - Compounding returns & regular returns
For terms 12 months or longer, you can choose to have returns paid every three (quarterly), six or 12 months. The default payment frequency is quarterly. Returns can be compounded (added automatically to your original investment) which allows you to earn ‘returns on your returns’, meaning your investment grows at a faster rate than if returns were paid out during the course of the investment or paid in full at maturity. Alternatively, you can choose to have returns paid separately into any New Zealand bank account which allows you to receive a periodic income stream that is less frequent than our monthly income option.
Term$5,000-$9,999$10,000-$49,999$50,000-$99,999$100,000-$249,999
12 months < 18 months 3.75% p.a. 3.95% p.a. 3.95% p.a. 3.95% p.a.
18 months < 2 years 3.85% p.a. 4.20% p.a. 4.20% p.a. 4.20% p.a.
2 years < 3 years 3.90% p.a. 4.55% p.a. 4.55% p.a. 4.55% p.a.
3 years < 4 years 4.10% p.a. 4.80% p.a. 4.80% p.a. 4.80% p.a.
4 years < 5 years 4.15% p.a. 5.05% p.a. 5.05% p.a. 5.05% p.a.
5 years 4.20% p.a. 5.30% p.a. 5.30% p.a. 5.30% p.a.

Investments made in the Westpac Term PIE Fund do not represent bank deposits or liabilities of Westpac New Zealand Limited or any other member of the Westpac group of companies, and are subject to investment and other risk. No Westpac company or any person guarantees the Westpac Term PIE Fund's performance, returns or payment of capital. A full statement of the tax advantages is set out in the registered prospectus of the Westpac Term PIE Fund. Westpac accepts no responsibility for the availability or content of third party websites. You can get a copy of the current Disclosure Statement for Westpac New Zealand Limited, and copy of the investment statement for any securities for which an investment statement is required from any Westpac branch in New Zealand free of charge. Rates of return quoted are subject to change and are not available to financial institutions. Full details of the terms and conditions are available from any Westpac branch in New Zealand.