FAQs

When will my Spend&Save bonus interest be paid?

Your Spend&Save bonus variable interest will be paid on the same day as base interest and bonus interest to your Westpac Life account.

If you’ve grown the balance in your Westpac Life savings in the month;

• Your Westpac Life base interest (1.85% p.a.) and bonus interest (3.15% p.a.) will be paid on the last business day of the month. You'll see this as 'INTEREST PAID' in your Westpac Life savings account.

If you’ve made 5 or more eligible purchases with the debit card linked to your Westpac Choice account and have these settled by close of business on the second last business day of the month;

• Your Spend&Save variable bonus interest (0.20% p.a.) will be paid on the last business day of the month. You'll see this as ‘INTEREST PAID – PROMOTIONAL’ in your Westpac Life savings account statement. It will also appear in Online Banking and the Westpac App in the Account details section for your Westpac Life account as “Promotional rate”

All rates quoted are variable and subject to change.