Westpac 55+ and Retired Summary
Description
The best of both worlds for retirees 55 and over. An everyday account with a debit card that gives you interest like a savings account.
Benefits
- No monthly savings-account fee.
- No monthly activity requirements for the ongoing rate.
Hoops
- Applicants must be at least 55.
- Ongoing rate cap: $9,999. See the rate breakdown for higher balances.
On this page
Details
Key details
| Product name | Westpac 55+ and Retired |
|---|---|
| Maximum variable rate | 0.05% p.a. |
| Ongoing interest rate | 0.05% p.a. |
| Base interest rate | 0.05% p.a. |
| Minimum age | 55 years |
Source: noren.com.au
All comparison details
| Base | 0.05% |
|---|---|
| Ongoing | 0.05% |
| Ongoing cap | $10K |
| Intro | - |
| Intro cap | - |
| Intro period | - |
| Dep/mth | 0 |
| Dep $/mth | - |
| Growth/mth | $0 |
| Buys/mth | 0 |
| Txns/mth | - |
| W/d/mth | - |
| Min age | 55 |
| Max age | - |
| Fee/mth | $0 |
Source: noren.com.au
Rates & features
Interest rates
Variable rates % p.a. at $699, assuming applicable bonus conditions are met.
- Base: 0.05% p.a..
Full rate breakdown
| Type | Rate | Applies to | Balance |
|---|---|---|---|
| Standard variable | 0.05% | This band only | First $9,999 |
| Standard variable | 1.95% | This band only | Over $9,999 to $49,999 |
| Standard variable | 2.30% | This band only | Over $49,999 to $249,999 |
| Standard variable | 2.90% | This band only | Over $249,999 |
Source: noren.com.au
Share/Export
This band only: the rate applies to the money within the listed balance range. Other portions earn their own rates.
Requirements
- No ongoing monthly deposit, purchase or balance-growth conditions in the reviewed pricing.
Fees
- Monthly account fee: $0
Showing reviewed fees only, other charges may apply
How to apply
Check these eligibility requirements before applying with Westpac.
- Age 55 or over.
- Those with an Australian residential address and who are currently in Australia.
- The card must be linked to an eligible Westpac account
- Eligible retirees aged 55
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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.