Interest rates

Here are the current interest rates you'll get on Westpac savings, term investment and transaction accounts, as at 19 October 2019. All rates are subject to change without notice.

Bank accounts

Transaction accounts

Tier	Rate
Earner Account - Interest rates
A transaction account that actually pays you interest once you have an average monthly balance of $5,000. You will see the interest paid into your account at the end of each calendar month.
Less than $4,999	0.00% p.a.
$5,000 < $19,999	0.05% p.a.
$20,000 < $49,999	0.05% p.a.
$50,000 < $99,999	0.05% p.a.
$100,000 and over	0.05% p.a.

Tier	Rate
Bearing Interest Account - Interest rates
Interest is calculated daily, and the same rate applies whatever your balance.
All balances	0.05% p.a.

Savings, Cash PIE and Notice Saver accounts

Savings and PIE accounts

Accounts no longer available to open

Tier	Base	Bonus	Potential
Westpac Bonus Saver - Interest rates
You can earn bonus interest as long as on the last business day of the month your balance is $20 greater than the last business day of the month prior. The $20 excludes interest earned on the account and/or Westpac fees charged to the account. If you need to access your money payments can be made directly out of your Westpac Bonus Saver account. Interest is calculated daily on the full credit balance and paid (less resident withholding tax) into your Westpac Bonus Saver account on the last business day of each month.
All balances	0.05% p.a.	1.35% p.a. On the last business day of the month your account balance is $20 greater than on the last business day of the month prior. The $20 excludes interest earned on the account and/or Westpac fees charged to the account.	1.40% p.a. On the last business day of the month your account balance is $20 greater than on the last business day of the month prior. The $20 excludes interest earned on the account and/or Westpac fees charged to the account.

Payments can be made directly from your Westpac Bonus Saver account. ATM access is for balance enquiry, funds transfers and deposits only. Cash withdrawals can be made in branch.

Tier	Rate
Simple Saver - Interest rates
Interest is calculated daily, and the same rate applies whatever your balance.
All balances	0.05% p.a.

Notice Saver - Rates of return

Rate of Return	Effective Return *
2.00% p.a.	If your Income Tax Rate is 30% **	If your Income Tax Rate is 33% ***
2.00% p.a.	2.06% p.a.	2.15% p.a.

More about Notice Saver

* 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 Notice Saver, 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.

Investments made in the Westpac Notice Saver 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 risk. No Westpac company or any person guarantees the Fund's performance, returns or payment of capital. You can get a copy of the current Disclosure Statement for Westpac NZ, and a copy of the term sheet for the Fund from any Westpac branch in New Zealand free of charge. Rates of return quoted are subject to change.

All balances	Base Rate of Return	Bonus Rate of Return	Potential Rate of Return	Effective Return *
Westpac Bonus Saver PIE - Rates of return
You can earn bonus return as long as on the last business day of the month your balance is $20 greater that the last business day of the month prior. The $20 excludes interest earned on the account and/or Westpac fees charged to the account.Payments can be made directly from your Westpac Bonus Saver PIE account. ATM access is for balance enquiry, funds transfers and deposits only. Cash withdrawals can be made in branch (a $2.50 fee applies).
	0.05% p.a.	1.35% p.a. You can earn bonus return as long as on the last business day of the month your balance is $20 greater that the last business day of the month prior. The $20 excludes interest earned on the account and/or Westpac fees charged to the account.	1.40% p.a.	If your Income Tax Rate is 30% **	If your Income Tax Rate is 33% ***
	0.05% p.a.		1.40% p.a.	1.44% p.a.	1.50% 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 Notice Saver 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.

Investments made in the Westpac Bonus Saver 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 risk. No Westpac company or any person guarantees the Fund's performance, returns or payment of capital. You can get a copy of the current Disclosure Statement for Westpac NZ, and a copy of the term sheet for the Fund from any Westpac branch in New Zealand free of charge. Rates of return quoted are subject to change.

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

Savings accounts no longer for sale

Tier	Rate
Save & Win - Interest rates
The Save & Win Account is no longer available for new accounts. Interest is calculated daily, and the same rate applies to all balances.
All balances	0.05% p.a.

More about Save & Win

Tier	Rate
Online Saver - Interest rates
The Online Saver Account is no longer available for new accounts.
All balances	0.05% p.a.

More about Online Saver

Tier	Rate of Return	Effective Return *
Online Saver PIE - Rates of return
The Online Saver PIE Account is no longer available for new accounts.
Balances $500 and above	0.05% p.a.	If your Income Tax Rate is 30% **	If your Income Tax Rate is 33% ***
Balances $500 and above	0.05% p.a.	0.10% p.a.	0.11% 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 Online Saver 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.

Investments made in the Westpac Online Saver PIE Fund is offered under 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 risk. No Westpac company or any person guarantees the Fund's performance, returns or payment of capital. You can get a copy of the current Disclosure Statement for Westpac NZ, and a copy of the term sheet for the Fund from any Westpac branch in New Zealand free of charge. Rates of return quoted are subject to change.

More about Online Saver PIE

Bonus Saver - Interest rate
The Bonus Saver Account is no longer available for new accounts.
Less than $10,000	0.05% p.a.	0.05% p.a.	0.10% p.a.
$10,000 and over	0.05% p.a.	0.05% p.a.	0.10% p.a.
*Note: When you make at least one deposit and no withdrawals in a month.

Tier	Rate
Cash Management - Rates of return
The Cash Management Account is no longer available for new accounts.
Balance less than $20,000	0.00%
Balance $20,000 and over	0.05%

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 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 Investments

Term deposit

Term	Interest Frequency	$5,000-$5,000,000
Term Deposit
30 days	At Maturity	0.35% p.a.
60 days	At Maturity	1.00% p.a.
90 days	At Maturity	2.15% p.a.
4 months	At Maturity	2.40% p.a.
5 months	At Maturity	2.60% p.a.
6 months	At Maturity, Monthly or Compounding	2.80% p.a.
8 months	At Maturity, Monthly or Compounding	2.75% p.a.
9 months	At Maturity, Monthly or Compounding	2.75% p.a.
12 months	At Maturity, Monthly or Compounding	2.70% p.a.
18 months	At Maturity, Monthly or Compounding	2.70% p.a.
2 years	At Maturity, Monthly or Compounding	2.70% p.a.
3 years	At Maturity, Monthly or Compounding	2.70% p.a.
4 years	At Maturity, Monthly or Compounding	2.70% p.a.
5 years	At Maturity, Monthly or Compounding	2.70% p.a.

Download the Term Deposits Term Sheet

*Special rates not available to financial institutions or for investments over $5,000,000 and cannot be used in conjunction with any other Westpac promotion, offer or package benefit.

Rates are available for Retail and Business Banking customers and apply up to the first $5,000,000 of deposits held either solely or jointly with Westpac. For rates applicable to amounts in excess of $5,000,000, please contact us. Rates are not available to Financial Institutions.

Term Deposit - Interest paid at maturity

For terms less than six months, interest is paid in full at the end of the term. You can also elect to have interest paid at maturity for terms six months or longer.

Term Deposit - Regular income

For terms of six months or longer, you can choose to have interest paid monthly or quarterly into your nominated bank account. This regular income stream can be ideal if you need to supplement other income such as NZ Superannuation.

Term Deposit - Compounding interest

For terms six months or longer, interest can be compounded quarterly (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.

You can get a copy of the current Disclosure Statement for Westpac New Zealand Limited and a copy of the term sheet for Westpac Term Deposits 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

Term	Return Frequency	$5,000-$5,000,000	If your Income Tax Rate is 30%**	If your Income Tax Rate is 33%***
Westpac Term PIE Fund - Rates of return			Effective rate of return*
30 days	At Maturity	0.35% p.a.	0.36%	0.38%
60 days	At Maturity	1.00% p.a.	1.03%	1.07%
90 days	At Maturity	2.15% p.a.	2.21%	2.31%
4 months	At Maturity	2.40% p.a.	2.47%	2.58%
5 months	At Maturity	2.60% p.a.	2.67%	2.79%
6 months	At Maturity, Monthly or Compounding	2.80% p.a.	2.88%	3.01%
8 months	At Maturity, Monthly or Compounding	2.75% p.a.	2.83%	2.96%
9 months	At Maturity, Monthly or Compounding	2.75% p.a.	2.83%	2.96%
12 months	At Maturity, Monthly or Compounding	2.70% p.a.	2.78%	2.90%
18 months	At Maturity, Monthly or Compounding	2.70% p.a.	2.78%	2.90%
2 years	At Maturity, Monthly or Compounding	2.70% p.a.	2.78%	2.90%
3 years	At Maturity, Monthly or Compounding	2.70% p.a.	2.78%	2.90%
4 years	At Maturity, Monthly or Compounding	2.70% p.a.	2.78%	2.90%
5 years	At Maturity, Monthly or Compounding	2.70% p.a.	2.78%	2.90%

*Special rates are not available to financial institutions or for investments over $5,000,000 and cannot be used in conjunction with any other Westpac promotion, offer or package benefit.

Download the Term PIE Term Sheet

Westpac Term PIE Fund - Returns paid at maturity

For terms less than six months, returns are paid in full at the end of the term. You can also elect to have returns paid at maturity for terms six months or longer.

Westpac Term PIE Fund - Monthly income

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.

Westpac Term PIE Fund - Compounding & regular return

For terms six months or longer, you can choose to have returns paid every three months. Alternatively, 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.

* 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 Term 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.

Investments made in the Westpac Term 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 risk. No Westpac company or any person guarantees the Fund's performance, returns or payment of capital. You can get a copy of the current Disclosure Statement for Westpac NZ, and a copy of the term sheet for the Fund from any Westpac branch in New Zealand free of charge. Rates of return quoted are subject to change.