Westpac Life could help you reach your savings goals sooner by earning bonus interest every month you save.
Category: Transaction & Savings Accounts Last Updated March 3, 2025 Effective March 21, 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
Cashback OfferAdditional Information: Aged 18-29? Get a $30 Amazon e-gift card: Open a new Westpac Life and Choice account, or just the account you don?t have. Then, deposit $100 into the Life account within 30 days of opening your new account(s). We?ll then email you a $30 Amazon.com.au e-gift card. T&Cs apply.
Unlimited TxnsAdditional Information: Unlimited and instant access to your money online through your Westpac everyday account
OtherAdditional 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 BankingAdditional Information: Online , Mobile and telephone banking is available
OtherAdditional Information: Statements : 6 monthly, or more frequently on request.
Cashback OfferAdditional Information: Open a Westpac Choice & Life savings account and if you?re 18-29, you?ll get a $30 Amazon e-gift card when you deposit $100 or more into the Life account within 30 days of the required accounts being opened.
New Customers aged between 18-29 must open both a Choice and Life account and deposit $100 in the Life account within 30 days of opening. Customer must not have held a product with us before. After meeting the eligibility requirements, the customer will receive an email containing their $30 Mastercard gift card. Existing Customers aged between 18-29 must open either a Choice or Life account (whichever they don't have) and deposit $100 in the Life account within 30 days of opening. Customer must not have previously held the new product that they are opening. After meeting the eligibility requirements, the customer will receive an email containing their $30 Mastercard gift card.
Fraud ProtectionAdditional Information: The product includes FRAUD_PROTECTION features.
Relationship ManagementAdditional Information: RELATIONSHIP_MANAGEMENT is available for eligible customers.
OtherAdditional Information: Account can be opened via Online, mobile, in branch and telephone.
OtherAdditional Information: No minimum opening balance for this account
OtherAdditional 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.