Finty
Westpac

Westpac ESaver

Bonus rateIntroductory rate

Westpac eSaver makes saving a breeze. You?ll get an introductory interest rate and online access to your money whenever you need it.

Written byDavid Boyd
Base rate up to
1.25%
Introductory rate
5.05% for 5 months
Maximum balance
None published

Rate with bonus, up to

Open account

Rates by balance

BalanceBase rateBonusTotal
Any balance1.25%+0.55%1.80%

How to earn the bonus

Fixed online bonus rate for the first 5 months for opening online. Interest is calculated daily on your account balance up to the second last business day of the month. Interest is paid into the account on the last business day of the month. Balances, including deposits made on or after the last business day of the month, won't count towards that month's interest but will count for the next month's interest. Opening a Westpac eSaver when you arrive in Australia lets you save with unlimited withdrawals and bonus interest for the first 5 months.

Who can open it

Age to open
14 and over
Maximum balance
None published

Who it's for

  • Be registered for Online and Telephone Banking.
  • To open a Westpac eSaver account, you must hold a Westpac everyday account. Fees and charges apply on a Westpac everyday account.

How it compares

Against the other savings accounts we compare. Typical means the middle half of them.

Most it pays

1.80%

At its best balance, with any bonus. Typical is 3.65%.

Base rate

1.25%

What it pays without a bonus. Typical is 2.40%.

Pros and cons

Pros

Nothing stands out.

Cons

  • A lower rate. Up to 1.80%, below the typical 3.65%, so your savings grow more slowly than in many other accounts.
  • Conditions for the bonus. You need to meet them every month, or you earn only the base rate.
  • An intro rate. Part of the rate lasts 5 months, then drops, so check again when it ends.

Similar savings accounts

Savings accounts from other banks that pay a similar rate at their best.