RBA Cash Rate: 4.10% · 1AUD = 0.62 USD · Inflation: 2.4%  
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Home Loan Variable: 5.43% (6.02%*) • Home Loan Fixed: 5.14% (6.01%*) • Fixed: 5.14% (6.01%*) • Variable: 5.43% (6.02%*) • Investment IO: 5.64% (6.42%*) • Investment PI: 5.55% (5.96%*)

  Westpac Life

Westpac Life is a flexible savings account that supports your savings goals. You could earn bonus interest each month your balance grows.
Category: Transaction & Savings Accounts  Last Updated March 31, 2025  Effective April 7, 2025

 General Lending Rates

Rates listed below are for a product. Additional Information
Interest Rate
NA PA
Comparison Rate
NAPA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.

 Product Features

  • Unlimited Txns Additional Information: Unlimited and instant access to your money online through your Westpac everyday account
  • Other Additional Information: Both an account holder and an authorised user can use the Savings Goals feature, including to view, add, edit and delete the savings goals on a Westpac Life account.
  • Digital Banking Additional Information: Online , Mobile and telephone banking is available
  • Other Additional Information: Statements : 6 monthly, or more frequently on request.
  • Other Additional Information: Keep your spending and savings separate, but visible in one view with the Westpac App.
  • Fraud Protection Additional Information: The product includes FRAUD_PROTECTION features.
  • Relationship Management Additional Information: RELATIONSHIP_MANAGEMENT is available for eligible customers.
  • Other Additional Information: No minimum opening balance for this account
  • Other Additional Information: Invite others to join your goal - Share your goal with another Westpac customer. Or invite anyone to contribute by sending money to your account.
  • Other Additional Information: Put savings on autopilot: Set up recurring transfers from your transaction account on paydays to automatically split your savings across your goals.
  • Other Additional Information: Set up to 6 Savings Goals: Change the savings amount, date, and category across all your goals. Adjust them at any time in the Westpac App.
  • Other Additional Information: Account can be opened via Online, mobile, in branch and telephone.
  • Other Additional Information: Set and share savings goals. Having clear savings goals you share with others may motivate you to strive to save even more.

 Product Eligibility

  • Min Age - 18.
  • Residency Status - Those With An Australian Residential Address And Who Are Currently In Australia..

 Bank Fees and Charges

  • Account Keeping Fee (Periodic), Amount: 0.00.
  • Online Banking (including Mobile Banking) (Withdrawal), Amount: 0.00. Additional Information: Online transfer withdrawals via Online Banking.
  • Telephone Banking Withdrawal (self Service) (Withdrawal), Amount: 0.00.
  • Telephone Banking Withdrawal (staff Assisted) (Withdrawal), Amount: 0.00.
  • Branch Staff Assisted Withdrawal (Withdrawal), Amount: 0.00.

 Document Downloads

Download our 40-page First Home Buyer Guide. It'll provide you with a framework that'll support your first home purchase.


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