Online Bonus Saver
From 2 July 2019 we’ll be changing the name of our Online Bonus Saver account to Westpac Bonus Saver with key changes to some of the features. Find out more.
Earn bonus interest when you make one deposit and no withdrawals before the last business day of the month (interest earned does not count as a deposit). With Westpac’s Online Bonus Saver, you won’t pay for any monthly account maintenance or transaction fees¹. All you need to open your Online Bonus Saver account is a Westpac transaction account².
Manage your money in Westpac One online banking, phone banking or through a Westpac ATM.
Set up an automatic payment for the middle of the month to ensure you make your monthly deposit.
Online Bonus Saver - Interest rates
The Online Bonus Saver works by topping up the base interest rate with bonus interest if you make one deposit (of any amount) every month, and no withdrawals or transfers that month. It's easily accessed anytime, through your Westpac One online banking.
Interest is calculated daily on the full credit balance and paid (less resident withholding tax) into your Online Bonus Saver account on the last business day of each month.
Tier Base Bonus Potential All balances
1.75% p.a. If you make at least one deposit and no withdrawals during the month
1.85% p.a. If you make at least one deposit and no withdrawals during the month
Applying for Online Bonus Saver is easy, first you'll need a Westpac transaction account.
To grow your savings you can:
Transfer funds (to your Online Bonus Saver account from your nominated transaction account)^ using online banking, phone banking’, at an ATM, or use a branch deposit box to make cash deposits.
If you need to dip into your savings you will need to transfer money into your Westpac transaction account first. If you don’t already have a transaction account with us, check out our Westpac Everyday account.