Westpac Life vs Westpac Life with Spend&Save
Westpac Life with Spend&Save pays $350 more a year on $50,000 than Westpac Life.
Where they differThe rate (5.25% against 5.95%), the conditions on the bonus, how much of a balance the top rate covers and who can open it.
The same on both$50 a year without meeting the conditions, a 0.10% base rate and no minimum balance.
- A deposit
- A balance that ends the month higher than it started
- A deposit
- 20 card purchases
- A balance that ends the month higher than it started
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 Life pays 5.25% with its monthly conditions met, and Westpac Life with Spend&Save pays 5.95% with its monthly conditions met. On $50,000, that's $2,625 against $2,975 a year, $350 more from Westpac Life with Spend&Save. 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.