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Westpac Life Spend&Save 6.20% p.a. Interest (Ages 18-40) at Westpac
Posted 11/4/2026

Westpac Life Spend&Save 6.20% p.a. Interest (Ages 18-40) at Westpac

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Westpac is lifting its Life savings rate to 6.20% p.a. for 18-40s on the Spend&Save offer, kicking in from 13 November 2026 after the latest RBA hike.

  • To score the 6.20%, you'll need to be 18-40, hold a Westpac Choice account and make 20 settled debit card purchases each month
  • You'll also need to deposit at least once a month (interest doesn't count) and grow your balance
  • The boosted rate covers balances up to $150,000, with anything above earning 5.50%
  • Everyone else aged 18+ gets 5.50% p.a. (up from 5.25%), but miss the monthly conditions and you'll drop to 0.10% p.a.

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