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Compare savings accounts

With so many good reasons to save, here are some excellent ways to go about it. Short term, longer term, flexible, fixed – the one thing these accounts all have in common is they pay very competitive interest rates.

Online Bonus Saver

Notice Saver

Online Bonus Saver PIE

Want to earn bonus interest? All you have to do is make one deposit and no withdrawals each month.
Earn returns similar to a term deposit with this longer-term savings option that you can add money to anytime. What's more, there's the potential to pay less tax on savings depending on your Income Tax Rate.
Perfect for your longer term savings with bonus returns when you make one deposit and no withdrawals each month, plus potential tax savings.
 
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Benefits

  • Competitive tiered interest rates
  • A base interest rate
  • No minimum balance needed to earn bonus interest
  • No monthly account maintenance or transaction fees#
  • Earn a term deposit sized return calculated daily and paid monthly
  • Money can be added anytime
  • Delay for withdrawals to minimise impulse purchases
  • It's a PIE which means you can be taxed less on returns if you're on an Income Tax Rate of 30% or 33%
  • Competitive bonus rate of return
  • 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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0.10% p.a. base interest plus 1.90% p.a. If you make at least one deposit and no withdrawals during the month

2.65% p.a. For funds remaining in the account

2.65% p.a. Funds on Notice - applied to withdrawal amounts until the withdrawal date.
For balances up to $10,000,000

0.10% - 2.00% p.a. 
for balances $500 and over,
depending on how many withdrawals & deposits are made each month.

  
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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.

# Service fees still apply, for example: clearance fees and use of other banks’ ATMs. Refer to the Transaction and Service Fees brochure for details (also available free of charge from any Westpac branch). 

Interest rates and fees are current as at 26 April 2019 and are subject to change without notice.

Online Bonus Saver PIE is offered under the Westpac Cash PIE Fund and Notice Saver PIE is offered under the Westpac Notice Saver PIE Fund (each a “Fund” and together, the "Funds"). Investments made in the Funds do not represent bank deposits or other liabilities of Westpac Banking Corporation ABN 33 007 457 141, Westpac New Zealand Limited (“Westpac NZ”) or other members of the Westpac group of companies. They are subject to investment and other risks, including possible delays in payment of withdrawal amounts in some circumstances, and loss of investment value, including principal invested. None of BT Funds Management (NZ) Limited (as manager), any member of the Westpac group of companies, Trustees Executors Limited (as trustee), or any director or nominee of any of those entities guarantees the Funds’ performance, returns or repayment of capital. Any rates of return are subject to change without notice. You can get more information and free copies of the Disclosure Statement for Westpac NZ and the term sheet for each Fund from any Westpac branch or online at westpac.co.nz