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Savings accounts

There are lots of reasons why you might need to put some money aside. Good news is we've got lots of different ways to save too, so you can do it the way you want. Take a look at our savings account options below to find your fit.

Online Saver

Online Bonus Saver

Online Saver PIE

You’ll get a competitive rate of interest by saving online, regardless of how many transfers you make from the account.
Want to earn bonus interest? All you have to do is make one deposit and no transfers each month.
You’ll get competitive returns by saving online, regardless of how many transfers you make from the account, but with the potential to pay less tax on your returns.
 
Find out more
or select another option
Find out more
or select another option
Find out more
or select another option

Benefits

  • Earn a competitive interest rate calculated daily
  • No monthly account maintenance or transaction fees (service fees apply)
  • No penalty for making transfers
  • No minimum balance needed
  • A competitive bonus interest rate
  • A base interest rate
  • No minimum balance needed to earn bonus interest
  • No monthly account maintenance or transaction fees (service fees apply)
  • All the features of an online savings account with your money on-call
  • Tax savings for a range of investors
  • Invest for as little as $500
 

Monthly account maintenance fee

Free

Free

Free

 

Electronic transactions

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Deposits: Free

Withdrawals: require a Westpac transaction account

Deposits: Free

Withdrawals: require a Westpac transaction account

Deposits: Free

Withdrawals: require a Westpac transaction account

 

Manual transactions

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Manual transactions over the counter are not available. However, deposits can be made through branch deposit boxes.

Manual transactions over the counter are not available. However, deposits can be made through branch deposit boxes.

Manual transactions over the counter are not available. However, deposits can be made through branch deposit boxes.

 

Interest rates

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3.15% p.a.

0.10% p.a. base interest plus 4.25% p.a. If you make at least one deposit and no withdrawals by the last business day of the month

3.15% p.a.
for balances $500 and over

 
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*“Rate” and “Rates” refer to (a) interest rates for the Simple Saver, Save & Win and Online Saver accounts; and (b) the rate of return for the Online Saver PIE account.

You can get a copy of the current disclosure statement for Westpac New Zealand Limited from any Westpac branch in New Zealand free of charge. Interest rates and fees are subject to change.

Investments made in the Westpac Cash PIE Fund (“the Fund”) do not represent bank deposits or liabilities of Westpac New Zealand Limited (“Westpac NZ”) or any other member of the Westpac group of companies, and are subject to investment and other risks. No Westpac company or any person guarantees the Fund's performance, returns or repayment of capital. A full statement of tax advantages is set out in the registered prospectus for the Fund. Any rates of return are subject to change. Westpac NZ’s General Terms and Conditions (including online banking terms) apply to investments in the Fund and Westpac NZ transaction accounts. You can get more information and free copies of the Disclosure Statement for Westpac NZ, the investment statement for any securities for which an investment statement is required (including the Fund) and Westpac NZ’s General Terms and Conditions, fees and charges from any Westpac branch.