Online savings account
Westpac eSaver lets you save with ease with introductory interest and unlimited withdrawals and 24/7 access.
Why open an eSaver account?
- Competitive interest rate on savings
- No Account-Keeping Fee 1
- Unlimited access via a linked Westpac Choice account (if you don't have one, we'll open one for you)
- No minimum deposit or monthly balance
- New Westpac eSaver customers receive an introductory fixed rate on top of the standard variable rate for the first 5 months.
Interest rates
Total introductory variable rate for the first 5 months (new eSaver customers only):
5.00% p.a. Online application |
4.65% p.a. In-branch or staff assisted applications |
The total introductory variable rate is a combination of:
| Standard variable rate (after 5 months or existing customers) | 1.10% p.a. |
| 5 month introductory fixed rate2 | 3.55% p.a. |
| Online bonus rate (available from 17/11/2023 for a limited time only. Only available for new eSaver accounts opened online by sole applicants who have never held an eSaver account before.) | 0.35% p.a. |
Get the Westpac App for even easier banking
View and transfer funds fast
Quick Balance lets you view the balance of three main accounts and quickly transfer money without signing in.
Manage your cards in one place
Misplaced your card? Temporarily lock it while you’re looking, order a new one, or change your PIN, all in the app’s convenient Cards Hub.
Get sorted with in-app budget tools
Track your month-to-month Cash flow and spot areas where you could be making savings with your spend sorted in Categories.
Account fees
| Standard fees (fees may change) | Westpac eSaver | Westpac Choice |
|---|---|---|
| Account-Keeping Fee | $0 | $5 (criteria for fee waiver below) |
| Domestic ATM Transactions3 | $0 | $0 |
| Overdrawn Fee | $15 | $15 |
| Branch staff assisted withdrawal | $0 | $0 |
| Telephone Banking withdrawal (automated) | $0 | $0 |
| Telephone Banking withdrawal (non-automated) | $0 | $0 |
| Direct debit | $0 | $0 |
| Point of Sale (POS) transactions - All transactions conducted at a POS terminal | $0 | $0 |
| Online banking (including mobile banking) fees | $0 | $0 |
This fee is waived for:
- Customers that deposit at least $2,000 each month (other fees apply)
- Customer under the age of 30 or a full-time tertiary students
- Australian Pensioner Concession or Health Care Card holders
- New to Australia or expatriate customers (for the first 12 months).
Safe and secure savings
- Online Banking Security Guarantee: If your Westpac account is compromised by online banking fraud, we promise to return any missing funds. This guarantee only applies if you’ve followed our Online Banking Terms and Conditions. This includes: 1. Keeping your sign-in details, including passwords or Westpac Protect™ Security codes, private, 2. Not contributing to the loss, and 3. Telling us right away if you think there’s an unauthorised transaction or fraud on your account.
- Westpac Protect™ Security Code: Keep your Online Banking safe with a Security Code when using the Westpac App or your Online Banking service. This Security Code confirms that it's you transacting or making changes to your profile.
- Protected by the Financial Claims Scheme (FCS): If you have a Westpac deposit account, in certain circumstances you may be entitled to a payment under the FCS. Payments under the FCS are limited for each customer. You can find out more information from the APRA website at www.fcs.gov.au.
Help when you need it
Rates, tools and calculators
Things you should know
Before making a decision about any of our products or services, please read all the terms and conditions. Fees and charges apply and may change.
1.
Westpac everyday account: To open a Westpac eSaver account, you must hold a Westpac everyday account. Fees and charges apply on a Westpac everyday account.
2. Introductory fixed interest: If you have not had a Westpac eSaver account before, an introductory fixed interest rate of 3.55% p.a. applies for the first 5 months, on top of the standard variable rate. After 5 months, the standard variable interest rate, currently 1.10% p.a. will apply. Existing or previous eSaver account holders are not eligible for this offer. Joint accounts are eligible where the primary account holder has not held an eSaver account before.
2. Introductory fixed interest: If you have not had a Westpac eSaver account before, an introductory fixed interest rate of 3.55% p.a. applies for the first 5 months, on top of the standard variable rate. After 5 months, the standard variable interest rate, currently 1.10% p.a. will apply. Existing or previous eSaver account holders are not eligible for this offer. Joint accounts are eligible where the primary account holder has not held an eSaver account before.
3. Non-Westpac Group branded ATMs: may apply an operator fee by the ATM owner for a balance enquiry or cash withdrawal made, which should be disclosed at the time of the transaction on the ATM screen. This fee is debited on the day (or next business day) of the transaction and is itemised separately on your statement.