Westpac Bonus Saver PIE

A serious savings account for serious savers. You can make unlimited withdrawals and still earn a special bonus rate of return as long as you increase your balance by $20 per month¹. Plus you could have potential tax savings.

How Westpac Bonus Saver PIE works

A serious savings account for serious savers. You can make unlimited withdrawals and still earn a special bonus rate of return as long as you increase your balance by $20* per month. Plus you could have potential tax savings.

Make unlimited withdrawals and still earn a bonus return as long as the balance on the last business day of the month is $20* greater than on the last business day of the month prior. With Westpac Bonus Saver PIE, you won't pay for any monthly account maintenance fees. Transaction and service fees will apply.

Keep on track to earn your bonus return by checking the status of the Bonus Indicator which will appear in Westpac One® online banking.

Top tip: If you’re depositing once a month, set up your automatic payment near the middle of the month.

Tax benefits

As a Portfolio Investment Entity ("PIE"), your Westpac Bonus Saver PIE could be a smart way for you to save. With potentially less tax to pay each month, your savings could grow a little faster in a PIE than in a regular savings account.

Find out how PIE works.

Rates of return

Westpac Bonus Saver PIE - Rates of return
 
TierBase Rate of ReturnBonus Rate of ReturnPotential Rate of ReturnEffective Return *
Balances $500 and over 0.10% p.a. 1.75% 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 acccunt and/or Westpac fees charged to the account. 1.85% p.a. If you make at least one deposit and no withdrawals during the month  If your Income Tax Rate is 30% ** If your Income Tax Rate is 33% ***
2.06% p.a. 2.15% p.a.

[1] Earn a bonus return 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 returns earned on the account and/or Westpac fees charged to the account. 
*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.

Returns paid monthly
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. 

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Fees

Online Saver PIE & Online Bonus Saver PIE - Fees

The Online Saver PIE Account is no longer available for new accounts. Online Bonus Saver PIE is still available.

Note: Service fees are charged to your Westpac transaction account.

Fee typeFee amount
Account maintenance and transaction fees
Free 
Phone banking service fee
Third party telephone fees may apply
First ten calls each month are free (then 50c per call) 
Txt banking service fee
Txt alerts, txt banking balances and transfer confirmations
Free 

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