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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 PIE

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 terms savings with bonus returns when you make one deposit and no withdrawals each month, plus potential tax savings.
 
Find out more
or select another option
Find out more
or select another option
Find out more
or select another option

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
  • Invest for as little as $500
  • 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 2.00% p.a. If you make at least one deposit and no withdrawals by the last business day of the month

2.80% p.a. For funds remaining in the account

0.35% p.a. Funds on Notice - applied to withdrawal amounts until the withdrawal date.
For balances $500  to $10,000,000

0.10% - 2.10% 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 24 November 2017 and are subject to change without notice.

The Online Saver PIE and the Online Bonus Saver PIE are each offered under the Westpac Cash PIE Fund. Investments made in the Westpac Cash PIE Fund and/or the Westpac Notice Saver PIE Fund (each a "Fund” and together the "Funds") 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 member of the Westpac group of companies nor any other person guarantees the performance or returns of, or repayment of capital by a 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 Funds and Westpac NZ transaction accounts. You can get more information and free copies of the Disclosure Statement for Westpac NZ, the term sheet for each Fund and Westpac NZ’s General Terms and Conditions from any Westpac branch.