• Our highest savings returns.
  • Returns can be paid monthly.
  • Add to your savings whenever you like. 
  • No monthly account or transaction fees. 
  • Enjoy potential PIE tax savings. 

What’s a PIE?

PIE stands for Portfolio Investment Entity. A PIE account can help you save more of your money because you could pay less tax if you are on the right Prescribed Investor Rate (PIR).

Find out more about how a PIE could benefit you and your savings.

How it works.

  • Notice Saver is a type of investment for balances less than $10 million. When you invest, you buy units in the Westpac Notice Saver PIE Fund: Each $1 you invest represents 1 unit. Your money is invested solely in a New Zealand dollar bank account with Westpac, where a $1 investment represents one unit in the Westpac Notice Saver PIE Fund.
  • To make a withdrawal, there is a minimum notice period of 32 days. You can make any number of withdrawals, of any amount (up to the amount invested plus any interest).

Tax benefits

  • Notice Saver is a PIE fund, it has tax advantages for many investors.
  • You may pay less tax on your earnings, which would mean your savings could grow a little faster in a PIE fund than in a regular savings account.

Rates of return

  • The rates of return are variable and can change at any time. Returns are calculated on the daily balance and paid on the last day of each month (less any PIE tax).
  • Choose to have your monthly returns reinvested into your Notice Saver or paid into your nominated Westpac account.
  • If your balance is above $10 million, you will not receive any returns.
  • If you make a withdrawal request, during the notice period the funds on notice receive the same rate of return as your other funds invested. 

Early withdrawals without notice.

You have seven working days as a cooling off period after you open your Notice Saver, in case you change your mind.

Once you are invested, if we agree you are suffering financial hardship, you could withdraw all or part of your investment without giving 32 days' notice.

Our Early Withdrawal Policy for Notice Saver will apply.


View all PIE rates.

Download the Notice Saver PIE Fund Term sheet.

Rates of return are subject to change.

*The effective return incorporates the tax benefits of a Notice Saver so you can compare this with the interest rate on a standard savings account. The effective return is the rate you would need to receive from a regular savings account to match the returns from a Notice Saver (after tax is paid). This is based on a PIR (Prescribed Investor Rate) of 28% and an income tax rate of 30%, 33% or 39%. Rates are subject to change including OCR changes.

**Individuals with taxable income of $48,001 to $70,000.

***Individuals with taxable income of $70,001 to $180,000.

****Individuals with taxable income of over $180,000.

Savings & Investment Chooser tool.

Find the right investment for you.

Our Savings & Investment Chooser tool is free and provides you recommendations on which of our savings and term investment options best suit you.

Opening a Notice Saver.

Talk to us

Speak to one of our friendly specialists who can help you.

Call 0800 400 600

Visit a branch

Make an appointment at your local branch and bring along your IRD number as well as your passport or drivers' licence and proof of address.

Find a branch

Quick help.

Things you should know.

You must have a New Zealand bank account to make withdrawals from your Notice Saver account.

Notice Saver is offered under the Westpac Notice Saver PIE Fund (the “Fund”).  Investments made in the Fund do not represent bank deposits or other liabilities of Westpac Banking Corporation ABN 33 007 457 141, Westpac New Zealand Limited (“Westpac NZ”) or other members of the Westpac Group of companies. They are subject to investment and other risks, including possible delays in payment of withdrawal amounts in some circumstances, and loss of investment value, including principal invested.  None of BT Funds Management (NZ) Limited (as manager), any member of the Westpac Group of companies, Trustees Executors Limited (as trustee), or any director or nominee of any of those entities guarantees the Fund’s performance, returns or repayment of capital.  Westpac NZ's General Terms and Conditions (including online banking terms) apply to the account and any investments in the fund. You can get more information and free copies of the Disclosure Statement for Westpac NZ, Westpac NZ's General Terms and Conditions and the term sheet for the Fund from any Westpac branch or online here.

A  copy of the Trust Deed for the Fund can be accessed here.

View the latest Westpac Term PIE, Cash PIE, Notice Saver PIE Annual Report for the year ended 31 March 2023 here.