Title: Westpac Bump Savings Account Review & Information | Finder
Headings: Westpac Bump Savings Account
Banking
Investments
Banks
Westpac Bump Savings Account
A high interest savings account for under 18s offering a maximum variable rate of 0.65%.
Details
Shirley Liu
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Content: We don’t compare all products in the market, but we’re working on it! Details
Key details
Pros & cons
Product Name
Westpac Bump Savings Account
Maximum Variable Rate
0.65% p.a. Standard Variable Rate
0.35%
Monthly Account Fee
$0
Minimum Opening Deposit
$0
Pros
Monthly bonus interest when you meet the account conditions
Encourage your children to save money
$0 Monthly fee
Cons
This account is for under 18s only
Review by
Shirley Liu
shirley@finder.com.au
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs. Key features
$200 bonus offer now closed for new applicants
When this account was launched to celebrate Westpac's 200th birthday the bank was offering $200 to all Australian children born in 2017, however this offer has now ended for new applicants. If you have already opened the account and received the $200 offer from Westpac, you cannot withdraw that $200 until your child has turned 16. Earn bonus interest up to 0.65%
This account offers a standard variable rate of 0.35% and a bonus interest rate of 0.3%. Each month you make a deposit and ensure your balance is larger at the end of the month than it was at the start you'll earn the maximum variable rate of 0.65% on your balance.