Westpac updates Westpac Life to 4.50%
Westpac has increased the rate on its Westpac Life savings account by 25 basis points to 4.50% p.a., from a previous rate of 4.25%.
Westpac
Westpac Life
New Rate
4.50%
Illustrative Example
For illustrative purposes, a $10,000 deposit at 4.50% would earn approximately $450 per year in interest. That is $25 more per year compared to the previous rate.
Market Context
This rate of 4.50% is below the current market average of 4.63% across 67 tracked savings account products. The current market leader offers 5.40%.
⚠️ 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.