Westpac Bonus Saver

Be rewarded for saving with bonus interest, earn potential interest of 1.85% p.a.* with our Westpac Bonus Saver! 

How Westpac Bonus Saver works

Make unlimited withdrawals and still earn bonus interest as long as on the last business day of the month your balance is $20* greater than on the last business day of the month prior. With Westpac Bonus Saver, 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.

Manage your money in Westpac One online banking, phone banking, in-branch, or through a Westpac ATM².

Interest rates & Fees

Westpac Bonus Saver - Interest rates
You can earn bonus interest 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. If you need to access your money payments can be made directly out of your Westpac Bonus Saver account.

Interest is calculated daily on the full credit balance and paid (less resident withholding tax) into your Westpac Bonus Saver account on the last business day of each month.
TierBaseBonusPotential
All balances 0.10% p.a. 1.75% p.a. On the last business day of the month your account balance is $20 greater than on the last business day of the month prior. The $20 excludes interest earned on the account and/or Westpac fees charged to the account. 1.85% p.a. On the last business day of the month your account balance is $20 greater than on the last business day of the month prior. The $20 excludes interest earned on the account and/or Westpac fees charged to the account.

Westpac Bonus Saver  - Fees
Note: The term 'free' refers to Westpac fees only. Service fees still apply.
 
Fee typeFee amount
Account maintenance fee
All balances
Free 
All electronic deposits
Free 
Internet - funds transfers
Free 
Westpac ATM - balance enquiry/transfer of funds
Free 
Phone Banking funds transfers
Third party telephone fees may apply
First ten calls are free each month (then 50c per call)
Paper statements $1.50 per statement
Free for electronic statements.
Manual withdrawals
Cheques and withdrawals at a branch.
$2.50 per transaction

 


How to apply

  • Already a Westpac customer?

    Apply for a Westpac Bonus Saver via Westpac One®.

    Open in Westpac One
  • New to Westpac?

    If you're new to Westpac, join us by applying for a Westpac transaction account.

    Join Westpac


Start saving

Adding funds to your Westpac Bonus Saver is as simple as a Transfer from your transaction account using online banking, phone banking, or a Westpac ATM, or making a cash deposit using a branch deposit box or over the counter.

Top Tip: Set up an automatic payment for the middle of the month to ensure your monthly deposit is always made in plenty of time.

If you need to withdraw

If you need to dip into your savings, payments can be made directly out of your Westpac Bonus Saver account via Westpac One, you can transfer funds to your transaction account at a Westpac ATM², or you can withdraw cash over the counter at a Westpac Branch (a $2.50 fee applies).