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 & Fees

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).
All balancesBase Rate of ReturnBonus Rate of ReturnPotential Rate of ReturnEffective Return *
  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 your Income Tax Rate is 30% ** If your Income Tax Rate is 33% ***
1.90% p.a. 1.99% 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.

Westpac Bonus Saver PIE - Fees
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 
Manual withdrawals
Cheques and withdrawals at a branch.
$2.50 per transaction
Manual deposits Free

Show rates Hide rates

Terms sheet

For important information about Westpac Bonus Saver PIE, please download the Westpac Cash PIE Fund Term Sheet (PDF). We recommend you read this before making an investment.

Top Tips

Savings tips

• set up your regular deposit as an automatic payment near the middle of the month
• consider having different Westpac Bonus Saver PIE accounts for each of your long term savings goal. This way, when you make a withdrawal for your first long term goal, you can keep earning a bonus return on your other longer term accounts

How do I transfer money in?

• set up automatic payments, direct credits and bill payments from any New Zealand bank account to your Westpac Bonus Saver PIE account.
• note: Returns earned do not count towards the $20 balance increase needed to qualify for bonus returns.

How do I withdraw my money?

• make withdrawals using online banking (including Westpac One and Business online banking), transfers at ATMs, and cash withdrawals at all Westpac branches#.
• you can make payments directly out of your Westpac Bonus Saver PIE account