Savings · Side by side
NAB Reward Saver vs Westpac Life
vs
These are open to different people: NAB Reward Saver to anyone, Westpac Life to anyone 18 or over.
Interest a year on $50,000, with the conditions met
$2,625
5.25% on this balance
$2,750
5.50% on this balance
Westpac Life pays $125 more a year on $50,000 than NAB Reward Saver.
Drag to try another balance
Where they differThe rate (5.25% against 5.50%), the conditions on the bonus and who can open it.
The same on bothNo cap on the top rate and no minimum balance.
NABNAB Reward Saver
WestpacWestpac Life
Figure by figure
Interest a year without meeting the conditions
on $50,000
$5
at the base rate
$50
at the base rate
+$45 · More without meeting the conditions
Total rate
base plus bonus
5.25%
5.50%
from 13 Nov · 5.25% until then
+0.25 · Higher total rate
Base rate
paid whatever you do
0.01%
0.10%
now
+0.09 · Higher base rate
Bonus rate
5.24%
with the conditions met
+0.09 · Higher bonus rate
5.15%
now
What the bonus asks each month
- A deposit
- No withdrawals
- A deposit
- A balance that ends the month higher than it started
Who can open it
Anyone
Anyone 18 or over
Rank by total rate
53rd of 118
among accounts open to adults
30th of 118
among accounts open to adults
Last rate change
9 Oct 2026
up 0.25
9 Oct 2026
up 0.25
Rates over time
Each account's total rate, a cell a week. A move shows as ▲ or ▼ in the week it happened.
As of 5 November 2026, NAB Reward Saver pays 5.25% with its monthly conditions met, and Westpac Life pays 5.50% with its monthly conditions met. On $50,000, that's $2,625 against $2,750 a year, $125 more from Westpac Life. Figures are the banks' published rates, worked out on the balance above. Each row says which figure is higher; it doesn't say which account suits you.
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