Westpac Life (Spend&Save (18–40))
Westpac Life is a flexible savings account that supports your savings goals.
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Details
| Field | Value |
|---|---|
| Base | 0.10% |
| Ongoing | 5.95% |
| Ongoing cap | $150K |
| Intro | - |
| Intro cap | - |
| Intro period | - |
| Dep/mth | 1 |
| Dep $/mth | - |
| Growth/mth | $0.01 |
| Buys/mth | 20 |
| Txns/mth | - |
| W/d/mth | - |
| Min age | 18 |
| Max age | 40 |
| Fee/mth | $0 |
Source: noren.com.au
Interest rates & fees
| Type | Rate | Applies to | Balance |
|---|---|---|---|
| Base rate component | 0.10% | Whole balance | All balances |
| Ongoing total, conditions met | 5.95% | This band only | First $150k |
| Ongoing total, conditions met | 5.25% | This band only | Over $150k |
Source: noren.com.au
This band only: the rate applies to the money within the listed balance range. Other portions earn their own rates.
Bonus requirements
For Westpac Life (Spend&Save (18–40)), meet these requirements to earn the ongoing total rate shown above.
- 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.
- Make at least 20 eligible Westpac Choice Debit Mastercard purchases, settled by 11:59pm Sydney time on the second last business day of the month.
- The Spend&Save purchase bonus is independent of the standard balance-growth bonus: meeting purchases without growth still earns base plus the capped Spend&Save increment. The displayed ongoing total assumes both sets of conditions are met.
Fees
| Fee | Amount | Details |
|---|---|---|
| Monthly account fee | $0 | Monthly account fee. |
Source: noren.com.au
Showing reviewed fees only, other charges may apply
Rate history
| Observed | Base | Ongoing | Intro |
|---|---|---|---|
| 29 Oct 2026 | 0.10% | 5.95% | - |
Source: noren.com.au
Eligibility
- Aged 18–40 inclusive. Life and Choice must be in the same sole name. Joint accounts are ineligible. Only the earliest opened Life account qualifies for one Spend&Save offer per customer.
Similar products
Tools & support
Things you should know
- Check withdrawal access, linked-account requirements and transaction timing with the provider.
- Introductory and ongoing offers may have different eligibility and balance limits.
Collected on 30 Oct 2026. Pricing verified on 28 Oct 2026.