Westpac updates Westpac Life (Under 35) to 5.50%
Westpac has increased the rate on its Westpac Life (Under 35) savings account by 25 basis points to 5.50% p.a., from a previous rate of 5.25%.
Westpac
Westpac Life (Under 35)
New Rate
5.50%
Illustrative Example
For illustrative purposes, a $10,000 deposit at 5.50% would earn approximately $550 per year in interest. That is $25 more per year compared to the previous rate.
Market Context
This rate of 5.50% is above the current market average of 4.77% across 67 tracked savings account products. The current market leader offers 5.65%.
Notes
Westpac increased rate by 0.25% to 5.5%
⚠️ General information only
This comparison is for informational purposes only and does not constitute financial advice. Always verify current rates and eligibility directly with the provider before making decisions. Consider whether products are appropriate for your circumstances.