Westpac · Savings account
Westpac Life with Spend&Save
Pays 5.95% p.a. total (0.10% base plus 5.65% bonus) as of 1 October 2026. Ranks 1st of 145 savings accounts tracked by BankMate, 1.47 points above the average of 4.48%. It has not changed since tracking began on 27 September 2026.
0.10% base + 5.65% bonus · bonus up to $150,000 · unlimited withdrawals · variable
Rate over time
Total rate, conditions met- Westpac Life with Spend&Save
- RBA cash rate
- Market average
Position among 128 accounts
By month, end of month- Sept 2026: ranked 3 of 128
- Oct 2026: ranked 1 of 128
- Top 5%
- Top 10%
- Top 25%
- Lower
In the top 5% for every one of the last 2 months.
Changes
No rate changes recorded for this account since tracking began on 27 September 2026.
Conditions for the bonus rate
Checked each month- Debit card use
- 20+/month
- Monthly deposits
- $1/month
- Balance growth
- $1/month
- Balance range
- $0 - $150,000
- Age
- 18-40 years
On your balance
Saved with your preferences- Interest this year
- —
- Each month
- —
- Against the average account (4.48%)
- —
About this account
Westpac Life with the Spend&Save bonus: 5.75% on up to $150,000 and 5.00% above it. Ages 18–40, with a Westpac Life and a Westpac Choice account in your name (not joint); each month make at least one deposit, end the month with a higher balance, never fall below $0, and make 20 settled purchases with the Westpac Choice Debit Mastercard. Only your earliest Westpac Life account earns bonus interest. Westpac may vary or withdraw the offer at any time.
Notes from savers
to leave a note.