New data from Westpac NZ shows southern regions are edging out the north when it comes to savings balances, but regular saving still isn't a habit for many New Zealanders.
Canterbury and Otago came out tops in the savings stakes - in both regions 28% of Westpac everyday banking customers are making monthly payments into their savings, a fact that's reflected in the country's highest median savings balances of $4,200.
Canterbury and Otago also had the highest numbers of customers with savings balances of $15,000 or more, on 32% for both regions.
At the other end of the table are Auckland and Northland, where about 20% of customers are making monthly payments, with median savings balances of less than $1,500.
Sarah Hearn, Westpac NZ Managing Director of Product, Sustainability & Marketing, says while it's encouraging that around 77% of customers who have a transactional account with Westpac also have a savings account, only a quarter have monthly automatic payments going into their savings accounts.
"Good savings habits can make a big difference in the long run. Even if you're only putting aside a small amount each month, simply establishing the behaviour is a great start," Ms Hearn says.
"At the same time, our data showed that 28% of our everyday customers have savings balances of $15,000 or more, so it's great that some people are contributing meaningfully to their savings at times when that's financially possible, even if they can't make those smaller regular payments."
While some people will be channelling any extra funds into paying off their mortgage rather than saving, the data showed 81% of Westpac home loan customers do also have a Westpac savings account, with 36% of them having set up a monthly automatic payment.
When it comes to saving for a first home or retirement, southern regions also performed strongly - in both Canterbury and Otago, 41% of Westpac everyday banking customers who also have Westpac KiwiSaver accounts have KiwiSaver balances of more than $40,000.
It can be tough to get ahead in the country's biggest city and only 19% of Auckland Westpac everyday banking customers have an automatic savings payment set up - the lowest number across the country.
"We know costs are typically higher in Auckland than in other regions and that's reflected in this savings data," Ms Hearn says.
"And around the country, households and businesses continue to grapple with high costs. Saving more money might feel unrealistic for many people right now and we understand that. But taking some time to review your overall spending and making small savings commitments can have a big impact over time."
Elsewhere in the country, Wellington and Southland Westpac customers tied for first place in the KiwiSaver balance building, with 42% of Westpac everyday customers in both regions having Westpac KiwiSaver balances over $40,000. Wellingtonians also had the North Island's highest median savings balance, on $3,600.
Meanwhile, Westpac customers in Manawatu-Wanganui take the award for regularly putting aside the most money, with a median automatic payment of $200, compared with $150 nationwide.
Ms Hearn says Westpac is keen to help New Zealanders to achieve their goals, whether that's saving up for a new car or holiday, putting together the deposit for a first house, or planning for their retirement.
"There are lots of free tools available to help people get their savings started - for instance our Westpac Salary Splitter option, which lets customers divide their salary into as many as six different accounts as soon as they get paid.
"We also send automated 'nudge' emails to customers with high balances in lower interest-bearing accounts, reminding them of our range of available options - such as our Notice Saver offering with a highly competitive rate of 3.00% p.a.
"Finally, it's important to make sure you're in the right KiwiSaver fund for your stage of life - there are numerous simple and free online resources available to help you to work that out, including the Westpac KiwiSaver Scheme Fund Chooser and Calculator.
*Data taken from an overview of Westpac everyday banking customers' accounts as at 30 November 2025. The overall numbers reflect all customers, but regional breakdowns are included only for those areas with more than 20,000 customers.
Region |
Median savings balance |
% of Westpac everyday banking customers with an automatic payment to a Westpac savings account |
Savings balance over $15k |
Savings balance less than $500 |
Median monthly savings automatic payment |
% of Westpac everyday banking customers with a Westpac KiwiSaver balance over $40k |
Overall |
$2.7k |
25% |
28% |
36% |
$150 |
38% |
Northland |
$1.4k |
22% |
25% |
42% |
$130 |
33% |
Auckland |
$1.2k |
19% |
24% |
43% |
$150 |
35% |
Waikato |
$2.5k |
26% |
28% |
36% |
$160 |
37% |
Bay of Plenty |
$2.7k |
26% |
28% |
36% |
$150 |
37% |
Hawke's Bay |
$3k |
26% |
29% |
35% |
$150 |
37% |
Manawatu-Wanganui |
$3k |
28% |
29% |
35% |
$200 |
39% |
Wellington |
$3.6k |
27% |
31% |
34% |
$180 |
42% |
Canterbury |
$4.2k |
28% |
32% |
32% |
$120 |
41% |
Otago |
$4.2k |
28% |
32% |
31% |
$144 |
41% |
Southland |
$3.7k |
26% |
30% |
33% |
$180 |
42% |
