Savings · Side by side
Westpac eSaver vs Westpac Life
vs
These are open to different people: Westpac eSaver to anyone 14 or over, Westpac Life to anyone 18 or over.
Interest a year on $50,000, with the conditions met
$625
1.25% on this balance
$2,625
5.25% on this balance
Westpac Life pays $2,000 more a year on $50,000 than Westpac eSaver.
Drag to try another balance
Where they differThe rate (1.25% against 5.25%), the conditions on the bonus, the intro rate and who can open it.
The same on bothNo cap on the top rate and no minimum balance.
WestpacWestpac eSaver
WestpacWestpac Life
Figure by figure
Interest a year without meeting the conditions
on $50,000
$625
No conditions to miss
+$575 · More without meeting the conditions
$50
at the base rate
Total rate
base plus bonus
1.25%
5.25%
+4.00 · Higher total rate
Base rate
paid whatever you do
1.25%
the whole rate
+1.15 · Higher base rate
0.10%
Bonus rate
None
one rate, nothing to do
5.15%
with the conditions met
+5.15 · Higher bonus rate
What the bonus asks each month
Nothing
- A deposit
- A balance that ends the month higher than it started
Intro rate
for new accounts
5.50%
for 5 months
None
Who can open it
Anyone 14 or over
Anyone 18 or over
Rank by total rate
105th of 117
among accounts open to adults
43rd of 117
among accounts open to adults
Last rate change
No change
since 25 Sep 2026
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 2 November 2026, Westpac eSaver pays 1.25% with nothing to do each month, and Westpac Life pays 5.25% with its monthly conditions met. On $50,000, that's $625 against $2,625 a year, $2,000 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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