BankMate

Savings account · 14-17 years

Westpac Bump Savings

5.30%p.a. total

1.75% base + 3.55% bonus when the conditions are met

41st of 151 savings accounts · market average 4.37%

Go to WestpacCompare with another accountCompare with Westpac's term deposit

The RBA raised the cash rate to 4.60% on 30 September. Bump Savings moved on 9 October, 9 days later.

What the bonus asks

2 things each month
Each month
  1. A deposit
  2. A balance that ends the month higher than it started
A month without them

Pays the 1.75% base rate on the whole balance.

Who can open it

14 to 17 year olds

Balance

No balance cap.

Compare all 151 accounts

Rate history

Last change 9 Oct
  • Bump Savings
  • RBA cash rate
  • Market average
4.004.505.005.50MarMayJulSepToday5.30% p.a. today

October 20261 change

  1. 9Fri
    • 5.05 → 5.30Bonus rate 3.30% → 3.55% · 9 days after the RBA rise to 4.60%
      +0.25

May 20261 change

  1. 15Fri
    • 4.80 → 5.05Bonus rate 3.05% → 3.30% · 9 days after the RBA rise to 4.35%
      +0.25

March 20261 change

  1. 27Fri
    • 4.55 → 4.80Bonus rate 2.80% → 3.05% · 9 days after the RBA rise to 4.10%
      +0.25

  1. #17FebFeb 2026: ranked 17 of 42
  2. #21MarMar 2026: ranked 21 of 64
  3. #31AprApr 2026: ranked 31 of 76
  4. #30MayMay 2026: ranked 30 of 79
  5. #36JunJune 2026: ranked 36 of 79
  6. #37JulJuly 2026: ranked 37 of 80
  7. #37AugAug 2026: ranked 37 of 80
  8. #46SepSep 2026: ranked 46 of 120
  9. #40OctOct 2026: ranked 40 of 150
  10. #41NowNov 2026: ranked 41 of 151
  • Top 5%
  • Top 10%
  • Top 25%
  • Top half
  • Lower half

In the top 50% for every one of the last 10 months.

A year meeting the conditions
$2,650
A year without meeting the conditions
$875
Against the average (4.37%)
+$466

On a $50,000 balance. Type yours above; it's kept with your savings preferences.

Requires deposit and grow balance > $0 to earn bonus. Customers <14 require a parent to open account.

Notes from savers

to leave a note.

Other Westpac accounts: Westpac Life with Spend&Save 5.95% · Westpac Life 5.25% · Westpac eSaver 1.25%

Pays 5.30% p.a. total (1.75% base plus 3.55% bonus) as of 1 November 2026. Ranks 41st of 151 savings accounts tracked by BankMate, 0.93 points above the average of 4.37%. The rate last rose on 9 October 2026, 9 days after the RBA raised the cash rate to 4.60%. From Westpac's Consumer Data Right feed, refreshed nightly. Compare savings accounts ·