Westpac Bump Savings Summary
Description
The trick to saving is to start early. With a Westpac Bump kids savings account, get the money-growing habits you need.
Benefits
- No monthly savings-account fee.
- No upper balance cap in the reviewed ongoing pricing.
Hoops
- Available up to age 17.
- For bonus interest, make at least 1 qualifying deposit each month, grow the balance by at least $0.01 each month. Check the full requirements below.
On this page
Details
Key details
| Product name | Westpac Bump Savings |
|---|---|
| Maximum variable rate | 5.30% p.a. |
| Ongoing interest rate | 5.30% p.a. |
| Base interest rate | 1.75% p.a. |
| Minimum age | - |
Source: noren.com.au
All comparison details
| Base | 1.75% |
|---|---|
| Ongoing | 5.30% |
| Ongoing cap | No cap |
| Intro | - |
| Intro cap | - |
| Intro period | - |
| Dep/mth | 1 |
| Dep $/mth | - |
| Growth/mth | $0.01 |
| Buys/mth | 0 |
| Txns/mth | - |
| W/d/mth | - |
| Min age | - |
| Max age | 17 |
| Fee/mth | $0 |
Source: noren.com.au
Rates & features
Interest rates
Variable rates % p.a. at $699, assuming applicable bonus conditions are met.
- Base: 1.75% p.a., before bonus interest.
- Ongoing: 5.30% p.a. when bonus conditions are met. No upper cap.
Full rate breakdown
| Type | Rate | Applies to | Balance |
|---|---|---|---|
| Base rate component | 1.75% | Whole balance | All balances |
| Ongoing total, conditions met | 5.30% | Whole balance | All balances |
Source: noren.com.au
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Requirements
- Keep the balance at or above $0 throughout the month.
- Make at least one eligible deposit, excluding bank-initiated credits such as interest, by the last business day of the month.
- Grow the balance by at least $0.01 between the last business days of consecutive months. Withdrawals can prevent meeting this condition.
Fees
- Monthly account fee: $0
Showing reviewed fees only, other charges may apply
How to apply
Check these eligibility requirements before applying with Westpac.
- Child under 14 - Accounts for children under 14 can be opened online if a parent or guardian is at least 18 and a Westpac customer. Otherwise, the account will need to be opened at a branch.
- Child aged 14 ? 17 - A child aged 14-17 can open their account online or at a branch.
- You can open a Bump Savings account for your child as long as they are under 18. For account holders under the age of 14, an account can be opened for a child in the child's name by a parent, guardian, or grandparent, who must become an authorised signatory at the time of opening the account. There must be at least one authorised signatory on the account. The sole authorised signatory cannot be removed from the account until the child has turned 14 or another authorised signatory is added to the account. For customers 14 years old or over: A child may open an account in their own name. If you are under 12 years old, Parental Control function is mandatory which gives your parent or guardian control of the account. The level of access under Parental Controls can be changed at any time by an authorised signatory or, if you are over 12, by the account holder.
- You need to have an Australian residential address and currently be in Australia.
- Withdraw funds via free online transfers to your Westpac everyday account, or by visiting a branch (fees apply on an everyday account)
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Sources & review
Noren aggregates information from multiple primary sources to ensure you're getting the most up-to-date, accurate information. All product information is peer reviewed.
Collected on 31 Oct 2026. Pricing verified on 28 Oct 2026.